Religare Enterprises has entered into a binding term sheet with TCG Advisory Services, Religare Finvest (RFL) and Religare Housing Development Finance Corp (RHDFCL), whereby the Company will divest its entire stake in RFL, a subsidiary of the Company, to TCG Advisory Services or any of its affiliates (Acquirer).
Pursuant to the aforesaid divestment, the Acquirer would also acquire indirect interest of the Company in RHDFCL, which is a subsidiary of RFL.
The transaction is expected to be completed before 31 December 2019.
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