SMFG to acquire stake in Fullerton Financial

SMFG to acquire stake in Fullerton Financial

Sumitomo Mitsui Financial Group (SMFG) on Tuesday announced that it would acquire 74.9% stake in Fullerton India Credit Company (FICC), subject to regulatory approvals. The plan is to sell the remaining 25% also to Sumitomo in due course. The deal value is pegged at nearly $2 billion sources indicated.This investment brings together SMFG’s Asian push…

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