CreditAccess Grameen to buy Madura Microfinance1 min read . Updated: 27 Nov 2019, 10:48 PM IST
- CAGL will first acquire 76.2% stake in MMFL, and later merge the businesses and acquire 100% stake, giving MMFL shares of the acquirer instead
- CreditAccess says the acquisition will help it build a large microfinance firm, and give it access to 11.1 lakh borrowers and 430 branches of Madura Microfinance
Microfinance firm CreditAccess Grameen Ltd., said on Wednesday that it has acquired Madura Microfinance Ltd, and will eventually merge it into its own business.
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