News Digest

29 November 2017
IndoStar Capital calls off deal to buy ICICI Home

Everstone Capital-backed IndoStar Capital Finance Ltd has called off a deal to acquire ICICI Home Finance Co. Ltd owing to synergy issues, IndoStar's chief executive officer (CEO) R. Sridhar said. Instead, the non-banking finance company (NBFC) is looking to expand its home loan book through its subsidiary IndoStar Home Finance, which started operations in August last year. “There was a problem of alignment of objectives when it came to the acquisition of ICICI Home Finance,” said Sridhar. “We are open to acquiring portfolios, but we are currently ramping up our presence,” he added. Indostar had been looking to buy a 67% stake in ICICI Home Finance for Rs2,000 crore.

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