JM Financial Products enters deal to acquire Vendiman
JM Financial announced that its subsidiary, JM Financial Products has on 01 September 2017 has executed the agreement(s) to acquire equity shares/compulsorily convertible securities of Vendiman in two tranches. Post conversion, on a fully diluted basis, the said acquisition would result in the holding of upto 41.21%.The proposed acquisition by JM Financial Products is with the intention to transfer the entire equity stake in Vendiman (after factoring the carrying cost for the period it remains with JM Financial Products) to a Fund/Trust that is sponsored/managed by JM Financial Investment Managers, the asset management company for Alternative Assets business in the JM Financial Group. This is subject to receipt of all the required approvals, if and to the extent required.
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