Wadhawan Global Capital Sells Stake In AHFL, DHFL To Also Exit Its Stake In The Company
Wadhawan Global Capital has agreed to sell its 70% stake in Aadhar Housing Finance Limited (AHFL) to Blackstone. Dewan Housing Finance Limited, the flagship entity of the WGC Group with a minority stake in AHFL, will also be exiting AHFL.
Photo Credit :
Wadhawan Global Capital (WGC), the parent company of Dewan Housing Finance Limited (DHFL), and Blackstone (NYSE:BX) today announced that private equity funds managed by Blackstone have entered into a definitive agreement with WGC to acquire its stake in its housing finance subsidiary, Aadhar Housing Finance Limited (AHFL). As a part of the deal, WGC will be selling the entire 70% of its stake in the company. DHFL, which holds a 9.15% stake in AHFL, will also be exiting the company as a part of the transaction.
Blackstone is one of the world’s leading investment firms, with $472 billion in assets under management, including investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. It has been active in India since 2006.
Commenting on the development, Kapil Wadhawan, Chairman, WGC said, “The transaction with Blackstone is a part of our multi-pronged strategy to reduce the corporate debt levels and strengthen our balance sheet. The sale unlocks the latent value within the WGC Group while reinstating our immediate and long-term focus on DHFL, the flagship company of Group.”