Canada’s Fairfax India Holdings Corporation is planning to acquire another 26% stake in Mumbai based financial services firm IIFL Holdings, for a consideration of about R1600 Cr FIH Mauritius Investments, a wholly owned subisidiary of Fairfax India, has issued a public announcement of an open offer to acquire 83.13 Mn shares in IIFL at R195 per share for a total of Rs 1,621 crore. The deal is expected to close later this year and is subject to regulatory approvals in India and the offer is managed by ICICI Securities. Founded in 1995, IIFL Holdings Ltd (formerly India Infoline Ltd) is engaged in equity broking, portfolio management services, depository services, investment banking, distribution of mutual funds and other financial products, commodity broking, margin funding, gold loan funding, mortgage funding, commercial vehicle financing, medical equipment financing, loan against shares and wealth management. Incorporated in 2014, Fairfax India Holding is an investment holding company based out of Toronto, Canada.
Source: dealcurry.comFairfax India To Acquire 74% Stake In National Collateral Management Services
Industry: Media 2015-11-26