Muthoot Finance, an Indian gold loan company, has announced an interim dividend of 200% for the financial year 2020-21, at INR20 per share of INR10 face value. The gold loan provider said that its shareholders will be paid the dividend on or before 11 May 2021. Muthoot Finance will make a dividend payout of INR […]
Srei Equipment Finance (SEFL) said that it has received expression of interest from Arena Investors and Makara Capital Partners for investing up to $250 million in the company. The Indian infrastructure financing services provider said that its strategic coordination committee (SCC) chaired by Malay Mukherjee will carry out negotiations with the two private equity funds […]
Utmost Group Limited, a specialist life assurance group, has agreed to acquire Isle of Man-based investment platform provider Quilter International for around £483m in cash. Quilter International provides cross-border investment solutions. The company, which is currently owned by Quilter plc, mainly caters to affluent and high net worth British residents looking to invest outside of […]
Magma Fincorp said that its shareholders have approved Rising Sun Holdings’ (RSHPL) acquisition of a controlling stake in the former. In February 2021, Rising Sun Holdings, which is controlled by Serum Institute of India CEO Adar Poonawalla, had announced the deal with the non-banking financial company based in Mumbai. The transaction will be executed via […]
Wells Fargo & Company has agreed to divest its asset management business – Wells Fargo Asset Management (WFAM) to private equity firms GTCR and Reverence Capital Partners for $2.1 billion. As part of the deal, Wells Fargo will retain a stake of 9.9% in the asset management business and will continue to be its major […]
Rising Sun Holdings (RSHPL), a company controlled by Serum Institute of India CEO Adar Poonawalla, has agreed to acquire a controlling stake in Magma Fincorp, non-banking financial company based in Mumbai. The transaction will be through for preferential issue of equity shares of Magma Fincorp and an open offer in accordance with the public announcement […]
Bharti Airtel revealed selling its stake in Indian financial technology company Seynse Technologies, the creator of a digital lending platform called Loan Singh, for an undisclosed price. According to a regulatory filing, Bharti Airtel sold 6,824 equity shares in Seynse Technologies in an all-cash deal that were held through its fully-owned subsidiary Nettle Infrastructure Investments. […]
Perella Weinberg Partners (PWP), a US-based independent advisory firm, has agreed to merge with FinTech Acquisition Corp. IV (FinTech IV), a special purpose acquisition company, in a deal worth around $975 million. The deal will enable the financial services company to become a publicly-traded company with a listing on NASDAQ under the PWP symbol. Established […]
Macquarie Asset Management has signed a deal worth around $1.7 billion to acquire US-based asset and wealth management company Waddell & Reed Financial. The asset management unit of Australia-based Macquarie Group is offering to acquire each of the shares of Waddell & Reed Financial for $25. While the asset management business of the US company […]
City Bank, a Bangladeshi private commercial bank, has joined forces with UK-based payments technology firm Compass Plus to launch an interoperable QR code payments solution in the Asian country. The QR code payments solution is said to bring together four major global payments networks in the form of American Express, Visa, Mastercard, and UnionPay, in […]