Wadhawan Global Capital (WGC) on Saturday announced that it has entered into a definitive agreement with an affiliate of the Warburg Pincus Group to sell its stake in its education finance subsidiary, Avanse Financial Services Ltd (AFSL). As part of the deal, WGC will sell its entire 49.04 per cent stake in the company. The deal value was, however, not disclosed.
DHFL, a WGC group company which holds 30.63 per cent stake in Avanse, will also be exiting the company as part of the transaction.
AFSL is a new-age, education-focussed niche NBFC, which is an associate enterprise of Wadhawan Global Capital Ltd (WGC).
With its new-age, flexible and tailored financial solutions, Avanse addresses the higher education needs of the Indian youth, enabling them to ‘Aspire without Boundaries’.
Commenting on the development, Kapil Wadhawan, Chairman, WGC said, “We have built Avanse as a leading education focused NBFC, that has empowered Indian youth in their quest for quality education and a better future. The transaction with Warburg Pincus will allow the company to further strengthen its position in the education financing industry. This sale also unlocks the latent value within the WGC Group, while reinstating the immediate and long-term focus on our core business.”
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $43 billion in private equity assets under management. The firm's active portfolio of more than 180 companies is highly diversified by stage, sector and geography.