societe-generale-grows-india-presence-through-acquisition

Societe Generale grows India presence through acquisition

Societe Generale announces acquisition of a 75% stake of Indian financing and leasing company.

By Sameera Anand

July 05, 2006

Societe Generale announced on July 5 that it had, in partnership with Indian business family, the Burmans, acquired a 75% stake in Apeejay Finance, an Indian financing and leasing company. The promoters of Apeejay Finance, the Apeejay Surendra group continue to hold 25% of the unlisted finance company.

Jean-Francois Gauthier, head of specialised financial services comments ôThe acquisition of Apeejay Finance allows us to set foot on the fast growing Indian consumer credit market. Building on the strengths of Apeejay FinanceÆs teams and on the local knowledge of the Burman and Paul families, our partners, the financial and industrial know-how of Societe Generale group should lead the newly acquired business to becoming one of the...

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