Sundaram Finance has reached agreements with its partner BNP Paribas for acquiring stakes held by the latter in their two joint venture companies for a total consideration of around Rs 1,000 crore.
Subject to necessary regulatory approvals, the entire 49 per cent equity stake held by BNP Paribas Securities Servies in Sundaram BNP Paribas Fund Services would be acquired for Rs 1.50 crore. Similarly, the 49.9 per cent stake of BNP Paribas Personal Finance in Sundaram BNP Paribas Home Finance would be acquired for about Rs 999.66 crore. The sum of total acquisitions is around Rs 1,000 crore. Following the acquisitions, the two joint ventures would become wholly owned subsidiary of Sundaram Finance.
Sundaram Finance, headquartered in Chennai, is a leading player in Retail Finance with presence across multiple facets of the Financial Services industry including Vehicle Finance, Home Finance, Mutual Fund, General Insurance and Financial Services Distribution.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 917.80 |
| Shriram Finance | 1009.60 |
| Aditya Birla Capital | 349.70 |
| Chola Invest & Fin. | 1542.65 |
| Tata Capital | 340.40 |
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