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BRIEF-Kotak Mahindra Bank acquires 99.49% stake in BSS Microfinance Pvt Ltd
September 30, 2016 / 11:01 AM / a year ago

BRIEF-Kotak Mahindra Bank acquires 99.49% stake in BSS Microfinance Pvt Ltd

Sept 30 (Reuters) - Kotak Mahindra Bank

* Executed a share purchase agreement, for acquisition of 99.49% of the equity shareholding of BSS Microfinance Private Limited

* Cost of acquisition at INR 1.39 billion Source text: [Kotak Mahindra Bank Ltd has informed BSE that the Bank has executed a Share Purchase Agreement, for acquisition of 99.49% of the equity shareholding of BSS Microfinance Private Limited (Company) from its existing shareholders. The Company is a Non-Banking Finance Company, classified as a NBFC-MFI. The transaction is subject to obtaining all necessary regulatory and other approvals, including from the Reserve Bank of India] Further company coverage: (Bengaluru newsroom)

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