Wednesday, December 20, 2006

AIG Capital picks up majority stake in Vivek Hire Purchase

American financial services giant AIG Capital Corporation, through its wholly-owned subsidiary has acquired a 75% stake in Chennai-based Vivek Hire Purchase and Leasing (VHPL) Limited for an undisclosed sum. VHPL is an unlisted NBFC promoted by Vivek Limited, one of India’s leading consumer durables retailers. VHPL provides financing for consumer durables bought from Vivek outlets, and going ahead under the new management, could broad-base its product offerings by getting into areas such as automobile, personal and home finance.

Read more about this news from The Hindu.

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