Other Private Equity/Strategic Investments
Japan's Daiwa to pick up over 15% stake in fin services player Ambit
Japanese financial services firm Daiwa Securities Group has agreed to pick up a little over 15% stake in Ashok Wadhwa-led Ambit Pvt Ltd. Founded in 1997, Ambit has business interests spanning investment banking, equities, asset and wealth management and SME (small and medium enterprises) lending. Part of the Daiwa investment will go toward providing liquidity to some employee shareholders and other minority shareholders of Ambit. The two groups already collaborate on cross-border mergers and acquisitions transactions. After completion of the Daiwa deal, Ambit plans to buy out the 14% stake held by Qatari investment bank QInvest through internal accruals. The Qatari firm, which invested in Ambit in 2010 and held around a 29% stake, has been slowly bringing down its ownership in Ambit.
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