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HDFC's sale of $1.3-billion education loan arm to Barings, ChrysCapital requires Indian merger clearance

By Freny Patel ( June 20, 2023, 04:21 GMT | Insight) -- Leading Indian housing finance company HDFC will require merger clearance to sell its majority stake in HDFC Credila to private investors Baring Private Equity Asia EQT and ChrysCapital, in what will be the largest-ever private equity buyout in India’s financial services sector. The divestment in HDFC Credila, an educational loan subsidiary valued at $1.3 billion, was a condition imposed by the Reserve Bank of India prior to granting clearance for the merger of HDFC with its banking subsidiary HDFC Bank.Leading Indian housing finance company HDFC will require merger clearance to sell its majority stake in HDFC Credila to private investors Baring Private Equity Asia EQT and ChrysCapital, in what will be the largest-ever private equity buyout in India’s financial services sector....

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