M&A
Centrum to sell its 56% stake in home loans arm to Weaver Services for Rs.430-Cr
BSE Announcement Economic Times
Mumbai-based, publicly listed Centrum Capital will be selling the entire 56.4% stake in its housing finance subsidiary Centrum Housing Finance Ltd (CHFL) to PE-backed Weaver Service for INR 430 crore. Additionally, Weaver will also acquire another 18.6% stake in the company for another INR 170 crore (from associate companies of the Centrum group as well as employees), taking the deal value to INR 600 crore.Founded in 2016, CHFL, focused on affordable home loans, has about INR 1640 crore in assets under management (AUM). It offers home loans, self-construction loans, home improvement loans and loans against property.E&Y was the financial advisor to CHFL, and J Sagar Associates were the legal advisors to the transaction. KPMG was the tax advisor, and Khaitan & Co. the legal advisors for Weaver Services.
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