Kedaara, Warburg, highest bidders for DHFL's Avanse Financial Services
Private equity firms Kedaara Capital and Warburg Pincus have emerged as the highest bidders for Avanse Financial Services, an educational services financier owned by the holding company of Dewan Housing Finance (DHFL). Both investors have offered to buy 80 per cent in Avanse for about Rs 1,100-1,
Published -
Mar 18, 2019 6:51 AM
Private equity firms Kedaara Capital and Warburg Pincus have emerged as the highest bidders for Avanse Financial Services, an educational services financier owned by the holding company of Dewan Housing Finance (DHFL). Both investors have offered to buy 80 per cent in Avanse for about Rs 1,100-1,200 crore in a deal that is part of the Wadhawan Group’s efforts to exit non-core businesses and shore up capital, said two people familiar with the development. Wadhawan Global, the holding company for DHFL, owns 49 per cent in Avanse: DHFL itself owns 31 per cent, while World Bank arm International Finance Corporation owns the rest.
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