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January 4, 2016updated 12 Apr 2017 3:49pm

BNP Paribas Lease targets broader Indian infrastructure market with share swap

BNP Paribas Lease Group will take a 5% stake in Srei Infrastructure Finance (SREI), an Indian infrastructure project and infrastructure equipment finance business, against a 50% stake in a SREI’s subsidiary.

By Sotiris Kanaris

BNP Paribas Lease Group will take a 5% stake in Srei Infrastructure Finance (SREI), an Indian infrastructure project and infrastructure equipment finance business, against a 50% stake in a SREI’s subsidiary.

In 2008, SREI demerged its infrastructure equipment financing business into a 50:50 Joint Venture Company, Srei Equipment Finance Limited (SEFL), with BNP Paribas Lease Group.

BNP Paribas proposed to acquire equity shares of SREI – representing 5% of the total paid-up equity share capital – and transfer/sell its entire shareholding of SEFL to SREI.

"In this context BNP Paribas Lease Group believes it would be beneficial to become shareholders in SREI, the parent listed company, to take advantage of opportunities in the broader infrastructure sector in India," said SREI.

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