A leasing unit of BNP Paribas SA will pick up a 5% stake in Srei Infrastructure Finance Ltd in lieu of the French lender’s stake in an equal joint venture with the local financier.
BNP Paribas Lease Group will swap its 50% stake in Srei Equipment Finance Ltd, seven years after it first invested in the company, for the 5% stake in parent Srei Infrastructure. The 5% stake is worth around Rs.150 crore at current market value. That is much less than what BNP had initially invested in Srei Equipment.
