Kotak Mahindra Prime has acquired the entire retail auto finance portfolio from Ford Credit Kotak Mahindra Private (Ford Credit India). Ford Credit India is a wholly owned subsidiary of Ford Credit International. | |
| Following this acquisition, KMP will finance retail purchases of Ford as well as non-Ford cars. Kotak Prime's director, Dipak Gupta said that the Kotak Mahindra group is committed to maintaining its position as a significant player in the auto finance segment. |
| |
| "We have made a strategic decision to sell the India retail financing portfolio," said Mike Kozel, president of Ford Credit International's Asia-Pacific Region. |
| |
| In the December quarter, the Kotak Mahindra Group's ownership in Kotak Mahindra Primus rose to 100 per cent, following the acquisition of 40 per cent stake held by Ford Credit International. |
| |
| Simultaneously, the Kotak Mahindra group had sold its entire holding in Ford Credit Kotak Mahindra to FCI. |
| |
|
| |
