JAPANESE MAJOR SUMITOMO ALL SET TO ACQUIRE FULLERTON INDIA FOR $2.6 BILLION

Highlights

• For the first time, a company based out of Japan is entering general retail lending in India

• Initially the Sumitomo will buy 74.9% in Fullerton India and the remaining 25.1% later

Japanese finance giant Sumitomo Mitsui Financial Group, is all set to take over Fullerton India, anon-banking financial arm of Singapore-based Fullerton Financial. For this acquisition, Sumitomo will be paying a ....