Financial Daily from THE HINDU group of publications
Tuesday, Sep 09, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 09, 2003 |
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Money & Banking
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Mergers & Acquisitions IDBI acquires Tata Homefin Our Bureau
Mumbai , Sept. 8 INDUSTRIAL Development Bank of India (IDBI) today said it has taken over Tata Homefinance Ltd, a subsidiary of Tata Finance Ltd, through a 100 per cent acquisition of equity holding in the home finance company. Tata Homefinance Ltd will be renamed IDBI Homefinance Ltd after obtaining legal approvals. The deal was initiated on May 30, 2003 with the signing of a share purchase agreement with Tata Finance Ltd after ICRA Advisory Services conducted the due diligence exercise.
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