Advent International has agreed to acquire a 14.3% stake in Aditya Birla Housing Finance for INR27.5bn ($304m), according to a report by Reuters. The transaction values the mortgage lender at INR192.5bn, according to a statement from Aditya Birla Capital.
Following completion, Aditya Birla Capital will retain an 85.7% holding in the business. The deal marks the latest foreign investment into India’s financial services sector. Recent transactions include MUFG’s agreement to acquire a 20% stake in...
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