Magma completes acquisition of GE Money Housing Finance
Kolkata: Leading NBFC Magma Fincorp today announced that it completed the acquisition process of GE Money Housing Finance which has an outstanding loan portfolio of Rs 1,320 crore.
"The acquisition closure of the eight-year old profitable entity will help Magma to launch its mortgage business in India," Vice-Chairman and Managing Director of Magma Fincorp Sanjay Chamria said in a statement.
The company also said it had acquired the auto lease business of Religare Finvest which had a portfolio of Rs 250 crore.
"This will help Magma to strengthen its fledgling auto lease business," Chamria said.
More from India
More from World
More from Sports
More from Entertaiment
- Cortana for Android available for public beta in US
- Xiaomi Redmi 2 Vs Redmi 2 Prime: Specification comparisons
- Middle class woes to continue, wholesale onion price shoots up to Rs 57 per kg
- Alleged land encroachment in Greater Noida: HC asks DM to decide representation in 3 months
- Watch: Review of Mahindra TUV300