Kotak Mahindra Bank said it has acquired the agri and healthcare equipment financing portfolio of De Lage Landen Financial Services India Private Ltd. (DLL India), a subsidiary of De Lage Landen International B.V., owned by Rabobank, for an unspecified amount.
The operations of the acquired portfolio of DLL India will be transitioned to Kotak Mahindra Bank in a planned manner over the next few months. Until the transition, the portfolio will continue to be managed by DLL India, Kotak Mahindra Bank said in a statement.
“With this acquisition, Kotak will gain access to over 25,000 high-quality customers with a total standard loan outstanding of around ₹ 582 crore.
In addition to the standard loans portfolio, Kotak said it has acquired the Non-Performing Assets portfolio with a total loan outstanding of about ₹ 69 crore.
“In the last 9 years of our operations in India, with our proficient services of global standards, we were able to establish an excellent quality customer base in India,” said Abhishek Mudgal, country manager, DLL India.
KPMG said it has acted as the exclusive financial advisors to the shareholders of DLL India for this transaction of portfolio sale.
