HFDC agrees to acquire 41 pc stake in Credila Fin Ser

13 November 2009

November 13,2009


The country's largest mortgage lender Housing Development Finance Corporation (HDFC) today said it would acquire about 41 per cent stake in the education loan provider - Credila Financial Services held by DSP Merrill Lynch Capital.

"The corporation has agreed to acquire approximately 41 per cent in the fully diluted equity share capital of Credila Financial Services from DSP Merrill Lynch Capital Ltd," HDFC said in a filing to the Bombay Stock Exchange (BSE).The acquisition of stake is subject to compliance with applicable regulations, it added.

The company, however, did not disclose further details in this regard.DSP Merrill Lynch Capital Ltd is a minority investor in Credila Financial Services.