First Citizens BancShares (FCNCA) to Buy SVB India Business

Almost a year after First Citizens BancShares, Inc. (FCNCA) acquired the failed Silicon Valley Bank (“SVB”), the company is set to buy latter’s subsidiary, SVB Global Services India LLP.This was disclosed by SVB in a filing with the Securities and Exchange Commission.Under the terms of the deal, FCNCA will acquire “100% of the outstanding partnership interest” in the India-based business. The transaction is subject to approval from the United States Bankruptcy Court for the Southern District of New York and ...