The new infusion will “boost capital so that credit can be further improved,” Finance Minister Nirmala Sitharaman said.
Fujia Group will take a 51% controlling stake after the deal.
The majority stake taken by PayU values Red Dot Payment at $65 million.
Fosun will focus on areas such as healthtech, insurtech and fintech.
At $35 billion, the volume of Chinese outbound M&A is the lowest tally for the first six months of the year since 2013.
Fosun said the acquisition, which is expected to close in the second half of 2019, is part of its strategy to grow its global asset management busines
Bank Mandiri is Indonesia's largest bank in terms of assets, loans and deposits.
The firm will receive $275 million in the first tranche, of which $125 million will be contributed by IFC.
FM Nirmala Sitharaman will present her first budget on Friday amid slowing growth and a liquidity crunch.
© Copyright DEALSTREETASIA 2014-2019 All rights reserved.
Forgot your password?
We will never share your information with third parties.
Already have an account? Sign in here
If you don’t already have an account click the button below to create your account.
Unlock your competitive advantage in a
rapidly evolving landscape. Our packages
come with exclusive access to archive
content, data, discount on summit tickets & more.
Be a part of our growing community now.