Deal Closed | Central Bank of India | Centrum Housing Finance Ltd | ELP

Central Bank of India to Exit the Housing Finance Business; to Sell Joint Venture Stake for INR 1.6 Billion

Centrum Housing Finance Ltd (CHFL) is acquiring the 64.40 per cent stake held by Central Bank of India in Cent Bank Home Finance (CBHFL) for INR 1.6 billion.

CBHFL is a financing and mortgage company jointly promoted by four public sector institutions — Central Bank of India, National Housing Bank, Specified Undertaking of Unit Trust of India (SUTTI) and Housing and Urban Development Corporation (HUDCO). 

The deal is expected to be closed in about two to three months

ELP advised Centrum Housing Finance Limited  (subsidiary of Centrum Capital Limited) led by a team of Sujjain Talwar (Partner), Aakanksha Joshi (Partner), Manendra Singh (Associate Partner), Megha Agarwal (Senior Associate), Shenaya Ardeshir (Associate). Central Bank of India was advised by Ezy Laws.