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Dewan Housing Acquires Stake In Deutsche Postbank Home Finance

Dewan Housing Finance Corporation Ltd. said the company along with Wadhawan Housing Pvt. Ltd. (DHFL), Caledonia Investment Plc., UK, and Amber 2010 had acquired from German-based BHW Holding AV 100% equity stake in Deutsche Postbank Home Finance Ltd. (DPHFL), a housing finance company registered with the National Housing Bank.

Upon closing of the transaction that took place on March 25, DPHFL became a subsidiary of DHFL.

The company has acquired 67.56 percent stake in DPHFL, which will eventually be held through its 100 percent owned SPV and the balance 32.44 percent has been acquired by others, namely, Wadhawan Housing, Caledonia Investment and Amber 2010.

At the BSE, Dewan Housing Finance shares are being traded at Rs.250, up by 11.61 percent from the previous close.

by RTT Staff Writer

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