Announced
Financials
Tags
Pending
Majority
Acquisition
Friendly
India
debt capital platform
Single Bidder
Private
Banks
Private Equity
Synopsis
Sumitomo Mitsui Banking, which provides banking services, agreed to acquire a 5.4% stake in Northern Arc Capital, a debt capital platform headquartered in Chennai. Financial terms were not disclosed. “We hope to leverage on the potential synergies of this partnership to further our mission of financial inclusion and widen our impact on the livelihoods of under-banked individuals and businesses,” Kshama Fernandes, Northern Arc Capital managing director, and CEO.
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