AMW acquires 100 per cent stake in FamilyCredit

Asia Motor Works announced the acquisition of a 100 per cent stake in FamilyCredit Limited from Societe Generale Consumer Finance.

Headquartered in Kolkata, FamilyCredit is a
leading consumer finance company engaged in financing of two-wheelers, automobiles (both new and
used), consumer loans, and distribution of insurance products to its client base. It has a base of over 400,000 customers and is a preferred financier for leading two wheeler and automobile manufacturers across the country.

According to Anirudh Bhuwalka, Managing Director, Asia Motor Works, “The acquisition of FamilyCredit provides us a pan India asset finance franchise. We are committed to build upon the FamilyCredit platform to expand into commercial vehicle financing.”

Commenting on the deal, Sandeep Soni, Former Managing Director at Citigroup who led the transaction for AMW, said, “the acquisition is a bolt on opportunity for the group to enter the fast growing commercial vehicle financing business and other related asset classes by expanding the business franchise of FamilyCredit.”

Posted in: AMW,Asia Motor Works,Citigroup,FamilyCredit,Finance,Societe Generale Consumer Finance