M&A
L&T Finance to buy gold loan ops of Paul Merchants Finance for Rs.537-Cr
L&T Finance Ltd (LTF), a publicly-listed non-banking financial company (NBFC), has forayed into gold loan business through the proposed acquisition of Chandigarh-based Paul Merchants Finance Pvt Ltd ’s (PMFL) gold loan business for INR 537 crore on a slump sale basis in an all cash deal.The proposed acquisition includes a fully operational network and security center for 24/7 remote monitoring of all gold loan branches, located in Punjab, Haryana, Delhi, Rajasthan, Gujarat, Madhya Pradesh, and Uttarakhand.
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