South African insurer to buy 26% stake in Shriram Capital
Some private equity investors in Shriram Capital (SCL) will be granted an exit opportunity as a result of South African insurer Sanlam’s acquisition of a 26% stake in the company. The deal is estimated to be worth INR20 billion ($430 million), with regulatory approval still pending.
Shriram has attracted considerable private equity interest over the year, with 23 firms currently holding stakes in the business. In February, SCL said it had received Foreign Investment Promotion Board...
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