SMBC to buy further 4.2% of Yes Bank from Carlyle affiliate

The banking arm of Sumitomo Mitsui Financial Group TSE:8316 has agreed to buy an additional 4.2% stake in India's Yes Bank NSE:YESBANK from an affiliate of Carlyle Group NASDAQ:CG for 51 billion yen ($349 million), it said on Wednesday.

Sumitomo Mitsui Banking Corporation, Japan's second largest lender by assets, also said it had now completed its acquisition of an initial 20% stake in the Mumbai-based bank, in a deal first announced in May.

($1 = 146.2800 yen)