IDFC has extended the CES Agreement with Shriram Group up to November 8, 2017 due to the extensive due diligence process involved and the on-going discussions.
Earlier on July 8, 2017, the company had approved entering into Confidentiality, Exclusivity and Standstill Agreement (CES Agreement) with the Shriram Group to evaluate a potential combination of certain businesses and subsidiaries / affiliates / associate companies of the Shriram Group engaged in the credit and non-credit financial services sector with the IDFC Group. The CES agreement primarily provided for a mutually agreed 90 days exclusivity period from July 8, 2017 for due diligence and discussions between the relevant parties in relation to the Proposed Transaction.
IDFC is the country’s leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.
