CVC Capital Wins Bid to Acquire Aavas Financiers at a Value of Approximately INR 13,019 Crore
Substantial Premium Offered in All-Cash Deal
Key Points:
- WEB CVCs winning bid values Aavas at approximately INR 13,019 Crore, offering INR 1635 per share.
- Current market value of Aavas stands at INR 13,019 Crore.
- CVC is paying a slight discount to the current market value, at INR 1635 per share.
- CVC Capital has secured a 26.47% stake in Aavas Financiers from existing shareholders Kedaara Capital and others.
In a significant development, CVC Capital Partners, a leading European private equity group, has emerged as the successful bidder to acquire Aavas Financiers. The deal, valued at approximately INR 13,019 Crore, represents a substantial premium over the current market value of Aavas.
CVC Capital's bid of INR 1635 per share constitutes a slight discount to the current market value. The transaction is expected to be completed in the near future, subject to regulatory approvals. This acquisition marks a major milestone for CVC Capital, expanding its footprint in the Indian financial services sector.
We will continue to provide updates on this evolving story as new information becomes available. Stay tuned for further developments.
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