Vistra Group today announced the acquisition of IL&FS Trust Company Ltd (ITCL), the largest independent corporate trust services provider.
Vistra has been looking for some time to enter the Indian market, which we see as a key emerging market for range of services, and ITCL provides the perfect fit, company CEO Martin Crawford said in a statement.
Their qualified and professional management team have extensive experience in the sector, he said, without disclosing the deal size.
With this acquisition, Vistra Group gains a solid foothold in the Indian corporate services market and can in time expand the platform to provide a broader suite of corporate and fiduciary services, he added.
IL&FS Trust Company Limited CEO Navita Yadav will stay on as Managing Director of ITCL.
