The non-banking company, Sundaram Finance Ltd (SFL) has proclaimed that it has decided to buy personal loan provider firm, BNP Paribas Personal Finances 49 per cent stakes in a joint venture, a media report said.
The company has agreed to acquire BNP Paribas Personal Finances entire 49.9% stake in their housing finance joint venture, Sundaram Finance Ltd (SFL) said, as reported by VC Circle
Currently, SFL acquires 50.1 per cent shares in the synergy, Sundaram BNP Paribas Home Finance Ltd and this transaction will make the amalgamated company an entirely owned subsidiary, SFL said in its statement.
At present, the transaction is yet to be approved by regulatory bodies.
Sundaram Finance Limited mainly renders financial services and investment solutions to customers. The company is based in Chennai and has over 640 bureaus in India. It primarily offers construction equipment loan, vehicle loan, consumer loan, commercial finance, wealth management solutions and infrastructure finance.