CVC Capital Partners Acquires Aavas Financiers for Rs 13,019 Crore
CVC Wins Bid with Offer of Rs 1635 Per Share
In a major acquisition, CVC Capital Partners has emerged as the successful bidder for Aavas Financiers, valuing the company at approximately Rs 13,019 crore. The deal was announced on August 11, 2024, and is expected to be completed soon.
Transaction Details
As part of the transaction, CVC Capital Partners will acquire the entire promoter stake of 26.47% from Kedaara Capital and Partners Group for Rs 1635 per share. This represents a slight discount to the Friday closing price of Rs 1645.
Competitive Bidding Process
CVC Capital Partners faced competition from two other private equity firms, EQT and Bain Capital, during the bidding process. After an intense round of negotiations, CVC emerged as the preferred bidder.
Positive Outlook for Aavas Financiers
Industry experts believe that the acquisition by CVC Capital Partners is positive news for Aavas Financiers. The company is expected to benefit from CVC's global experience and expertise in the financial services sector.
Impact on Share Price
Shares of Aavas Financiers are expected to be closely monitored in the coming days. The acquisition announcement is likely to have a positive impact on the stock price, which has been relatively flat in recent months.
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