Warbug Pincus to acquire Avanse Financial Services from DHFL, WGC

This is part of effort by DHFL and WGC to focus on core business of housing finance and exit from other lending activities

In an effort to reduce its outstanding corporate debt, Dewan Housing Finance Ltd ( DHFL) and Wadhawan Global Capital (WGC) will sell about 80 per cent combined stake in education loan company Avanse Financial Services Ltd to Private Equity group Warburg Pincus for undisclosed sum.

As a part of the deal, Wadhawan Global Capital (WGC) will be selling its entire stake of  49.04% in the company. Also, housing finance company Dewan Housing Finance Corporation, promoted by WGC will also sell its stake in Avanse Financial Services. It holds 30.63 per cent stake in the educational NBFC firm.

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