The Competition Commission of India (CCI) has approved acquisition of Sundaram BNP Paribas Home Finance (SBPHFL) by Sundaram Finance (SFL). SBPHFL is a joint venture between SFL and BNP Paribas Personal Finance, wherein SFL holds 50.1 per cent stake.
Last month, SFL had announced to acquire BNP Paribas Personal Finance's remaining 49.9 per cent stake in SBPHFL for about Rs 999.66 crore. After the acquisition, SBPHFL would become a wholly-owned subsidiary of SFL.
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.
