IDFC, Shriram call off merger talks

IDFC

30/10/2017 11:11

Oct 30 (Reuters) - India's IDFC Group said on Monday that 
talks to acquire some of Shriram Group's financial services 
businesses have been called off. 
    "The companies were not been able to reach common ground on 
a mutually acceptable swap ratio for the merger," IDFC Group 
said in a stock exchange filing. 
    The agreement was aimed at merging some of Shriram Group's 
listed companies including consumer lender Shriram Group City 
Union Finance  SHCU.NS  and Shriram Transport Finance Company 
 SRTR.NS  with IDFC Group. 
    Shriram Group said the parties could not mutually agree on 
structure and valuation. 
 
 (Reporting by Krishna V Kurup; Editing by Amrutha Gayathri) 
 ((Krishna.VKurup@thomsonreuters.com;)) 
 
Keywords: SHRIRAM M&A/IDFC