The Competition Commission of India (CCI) has cleared Warburg Pincus’ acquisition of Shriram Housing Finance through its affiliate Mango Crest Investment. The deal value was earlier pegged at Rs 4,630 crore. In a...
Wells Fargo to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont
Wells Fargo on Tuesday agreed to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont, a move that will make the firm the largest servicer of commercial real estate securitized debt in the...
HSBC mulls sale of South Africa business, Bloomberg News reports
HSBC Holdings is currently exploring a sale of its South Africa businesses, Bloomberg News reported on Tuesday, as the once globe-spanning company continues to move its focus towards Asia. The lender’s business in...
Rural fintech startup Jai Kisan gets RBI approval for NBFC acquisition
Rural fintech startup Jai Kisan on Tuesday said it has received regulatory approval from the Reserve Bank of India for the acquisition of a majority stake in NBFC Kushal Finnovation Capital. Details of the stake...
Sonata Finance to merge with BSS Microfinance: Kotak Bank
Kotak Mahindra Bank on Monday said Sonata Finance Private Ltd and BSS Microfinance Ltd, both wholly-owned subsidiaries of the bank, at their respective board meetings have approved a scheme of amalgamation. As per the...
NCLT directs RBI, DIPP to expedite approvals for Hinduja’s takeover of Reliance Capital
The National Company Law Tribunal (NCLT) on Monday instructed the Reserve Bank of India (RBI) and the Department of Industrial Policy and Promotion (DIPP) to expedite approvals necessary for Hinduja-owned IndusInd...
CreditAccess looks to sell off India biz to new owner with $2.7 bn valuation
India’s largest microlender Credit Access Grameen Ltd may soon have a new owner with its Dutch promoter looking to exit, two people aware of the development said. The Netherlands-based CreditAcccess India B.V...
Morgan Stanley, Wells Fargo, HDFC among Nexus Select units buyers
Foreign and domestic institutional investors including Morgan Stanley Asia Singapore, Luxembourg-based Carmignac Gestion, US-based Wells Fargo Emerging Markets Equity Fund, HDFC Flexicap Fund, and ICICI Prudential...
PB Fintech to steer clear of majority-stake acquisitions following MyLoanCare experience
PB Fintech, the owner of Policybazaar and Paisabazaar, plans to move away from taking a majority stake when acquiring companies following the exit of the founder of MyLoanCare, which it bought in 2021. PB Fintech will...
NCLT to hear Reliance Capital-IIHL resolution case on Wednesday, expected to issue direction to parties
The Mumbai bench of NCLT is expected to hear on Wednesday an interlocutory application filed by the Administrator of debt-ridden Reliance Capital (RCAP) seeking directions to IIHL for implementation of the resolution...
Hinduja Group ready to pay Rs 2,750 crore now for Reliance Capital resolution, files intervention applicat
Hinduja Group-backed IndusInd International Holdings (IIHL) filed an intervention application on Tuesday before the Mumbai bench of the National Company Law Tribunal (NCLT). The application states that while IIHL is...
Regional lender WesBanco to buy smaller rival Premier Financial in $959 mln deal
WesBanco has agreed to buy smaller rival Premier Financial in an all-stock deal valued at $959 million, the lenders said on Friday, offering another sign of growing consolidation in the U.S. regional banking industry...
