GE Capital arms bought by Magma Fincorp
No Comments Sub Category:Kolkata,Realty News Posted On: Nov 09, 2012
Kolkata-based non banking financial corporation (NBFC) Magma Fincorp has entered the housing finance sector in India.
It has acquired the mortgage business of two GE Capital India arms for Rs.1,600 crore.
The deal marks the exit of GE Capital’s two decades of home loan business in the country.
The concerned GE Capital arms are – GE Money Housing Finance and GE Money Financial Services. Together, the firms have a combined asset portfolio of Rs.1,600 crore.
Tags:
business deals, GE Capital, GE Capital India, GE Money Financial Services, GE Money Housing Finance, Kolkata, Magma Fincorp, mortgage business, non banking financial corporation (NBFC)
