Sundaram Finance has executed Share Purchase Agreement (SPA) for sale of its entire equity stake of 10 percent in Equifax Credit Information Services. Rs 67.43 is the price at which the shares will be divested, which will be increased by 2.2 percent per annum for the period from October 2019 till the date of Closing (assuming closing occurs prior to March 31, 2020). At this price, Sundaram Finance will fetch around Rs 91 crore.
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.
