022 24172311
Sections
Search
DealCurry
Equity
Venture Capital
Private Equity
M&A

Banner
DataBoard Demo
Private Equity | 24 February 2012

Citigroup Exits HDFC, Raises $2.01Bn

by Charmi Gutka
Citigroup Exits HDFC, Raises $2.01Bn
Share on Social Media Email Facebook Twitter Linkedin
 
@Charmi

Citigroup Inc is exiting its 9.85% stake in Housing Development Finance Corp. Ltd to raise upto$2.1bn.

The US bank wants to boost its capital base to meet Basel III banking regulations that will take effect at the start of next year.

Citigroup is selling 145.2 Mn shares representing 9.85% of the total equity of HDFC at Rs630-703.55 per share.

In 2006, Citigroup had acquired 9.3% stake for around Rs.2,900 Cr from Standard Life - HDFC's life insurance partner and it was subsequently increased to 11.4%.


Hager Acquires 51% Stake In Elcom India JV

Hager Acquires 51% Stake In Elcom India JV

Germany based Hager Group has acquired door communication systems provider Elcom International. As a part of this transaction, Hager has also acquired over 51% stake in Elcom Door-Communications (I) Pvt. Ltd.

Read More...

Aviva PLC, buys an additional 23 per cent in Indian venture

Aviva PLC, buys an additional 23 per cent in Indian venture

Aviva PLC, buys an additional 23 per cent stake in its Indian joint venture, Aviva Life Insurance Co. India Ltd., for about Rs 940 crore from Dabur Invest Corp. The transaction values Aviva Life at nearly Rs 4,087 crore. The deal was made in one of the foreign direct investment (FDI) proposals green-signaled by the government on7th March. Post the deal, Aviva Plc’s stake has reached to 49 per cent in the joint venture, the country's maximum permitted foreign direct investment limits.

Read More...
Subscribe
Enter your Email address
to receive all the news