CVC Capital to acquire 26.47% stake in Aavas Financiers from Kedaara Capital and Partners Group for $408m.

CVC Capital, a private equity and investment advisory firm, agreed to acquire 26.47% stake in Aavas Financiers, a housing finance company known for providing home loans in the rural and semi-urban locations of India, from Kedaara Capital, an operationally oriented private equity firm pursuing control and minority investment opportunities in India, and Partners Group, a Swiss-based global private equity firm, for $408m. Transaction will be subject to satisfaction of customary conditions including receipt of the necessary statutory approvals. Upon consummation of the proposed transaction in accordance with the terms of the definitive agreements, the Purchaser shall become the promoter of the Company and the existing members of the promoter and promoter group of the Company including the Sellers shall cease to be promoters/member of promoter group of the Company.