Categories: Business National

Sundaram Finance to buy out BNP Paribas stake in home loan JV


Chennai, June 20 (IANS) Non-banking finance company Sundaram Finance Ltd on Thursday said it will acquire the entire holding of BNP Paribas Personal Finance in their home loan joint venture Sundaram-BNP Paribas Home Finance Ltd.

In a statement issued here, Sundaram Finance said it has reached an agreement with BNP Paribas Personal Finance to acquire its 49.9 per cent stake in Sundaram BNP Paribas Home Finance subject to regulatory approvals.

The statement did not mention the acquisition price.

Sundaram Finance currently holds 50.1 per cent in the home finance company. The stake acquisition would increase its holding to 100 per cent, thus making the home loan company a wholly-owned subsidiary of Sundaram Finance.

Sundaram Finance's regulatory filing on the purchase price is about Rs 999 crore.

Facebook Comments

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at gopi@socialnews.xyz

Share

This website uses cookies.

%%footer%%