IndoStar Capital to buy IIFL's CV finance biz with AUM worth Rs 3,949 cr

IndoStar Capital Finance Limited (IndoStar) will buy out the commercial vehicle (CV) finance business of India Infoline Finance Limited (IIFL Finance) with assets under management (AUM) worth Rs 3,949 crore.

IndoStar has signed an agreement to acquire the CV finance business of IIFL Finance, a material subsidiary of IIFL Holdings Limited. The boards of both companies have approved the transaction, however, the value of the deal has not been disclosed. 

In a joint statement, both companies said the acquisition includes the entire CV finance AUM of Rs 3,949 crore as on December 31, 2018. It comprises of Rs 2,450 crore