IL&FS Investment Managers has received an approval to acquire balance 49% stake in its subsidiary - IL&FS Asian Infrastructure Managers (IAIML). This acquisition will make IAIML a 100% subsidiary of the company. The board of directors at its meeting held on May 03, 2016 has approved for the same.
The company currently holds 51% shares in IL&FS Asian Infrastructure Managers. The balance 49% shares are held by ORIX Corporation, Japan. The board decided to acquire the balance 49% holding of ORIX Corporation, Japan i.e. 2,250,000 shares of IAIML at a price of Rs 12.34 per share or for a total consideration of Rs 2.77 crore. The transaction is being done at a price based on an Independent Valuation.
IL&FS Investment Managers (IIML), a subsidiary of Infrastructure Leasing & Financial Services (IL&FS), is one of the oldest and largest private equity fund managers in India.
