L&T Finance, the NBFC arm of the engineering giant Larsen & Toubro has acquired a housing finance company Indo Pacific Housing Finance (IPHF) for an undisclosed amount..K Law advised L&T Finance with a team led by Partner Praveen Raju along with Senior Associate Sankar Narayan Swamy and Associate Arun Jerome..Desai & Diwanji advised IPHF with a team led by Partner Jai Diwanji..According to ET, the acquisition, which is subject to regulatory approvals, is likely to help L&T Finance enter into housing finance business by expanding the network of IPHF.IPHF, earlier known as AIG Home Finance India Ltd. started operations in 2007 and has 34 branches, primarily in the Southern and Western regions. IPHF had loan book size of Rs. 193.5 crore in FY2011-12..L&T Finance has also recently boosted its mutual fund business by acquiring Fidelity’s India mutual fund business. L&T Finance was advised by K Law while Amarchand advised Fidelity.
L&T Finance, the NBFC arm of the engineering giant Larsen & Toubro has acquired a housing finance company Indo Pacific Housing Finance (IPHF) for an undisclosed amount..K Law advised L&T Finance with a team led by Partner Praveen Raju along with Senior Associate Sankar Narayan Swamy and Associate Arun Jerome..Desai & Diwanji advised IPHF with a team led by Partner Jai Diwanji..According to ET, the acquisition, which is subject to regulatory approvals, is likely to help L&T Finance enter into housing finance business by expanding the network of IPHF.IPHF, earlier known as AIG Home Finance India Ltd. started operations in 2007 and has 34 branches, primarily in the Southern and Western regions. IPHF had loan book size of Rs. 193.5 crore in FY2011-12..L&T Finance has also recently boosted its mutual fund business by acquiring Fidelity’s India mutual fund business. L&T Finance was advised by K Law while Amarchand advised Fidelity.