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Feb 12, 2013, 08.46 AM IST | Source: Moneycontrol.com

Magma Fincorp completes acquisition of GE Money Housing Finance

Magma Fincorp has successfully completed acquisition of 100% equity share capital of GE Money Housing Finance (

With reference to the earlier notification dated November 08, 2012 by Magma Fincorp Limited ("Magma" or the "Company") announcing that the Company has entered into definitive agreements for the acquisition of 100% equity share capital of GE Money Housing Finance ("GEMHF") subject to completion of standard conditions precedents including receipt of relevant regulatory approvals, Magma Fincorp Ltd has now informed BSE that it has successfully completed the said acquisition, in line with the definitive agreement and taken ownerships of 100% equity share capital of GEMHF, effective February 11, 2013. GEMHF has a home loan portfolio of approximately Rs. 540 crores as on January 31, 2013.Source : BSE

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