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India: Warburg to buy HDFC’s stake in Goldman-owned Good Host Spaces for $32m
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A Warburg Pincus affiliate is set to buy mortgage financier HDFC Ltd’s stake in Goldman Sachs Group Inc.-backed student housing startup Good Host Spaces Pvt. Lt, said a person familiar with the development.
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The company expects to complete the stake sale in four months for a cash consideration of ₹232.81 crore
Housing Development Finance Corporation (HDFC) said it plans to sell 24.48 per cent stake in Good Host Spaces Pvt. Ltd for a cash consideration of ₹232.81 crore.
In a regulatory filing, HDFC said it has entered into a share purchase agreement for sale of 47,75,241 equity shares of ₹1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host.
The Corporation expects to complete the sale of its take in Good Host, which provides hostel services, guest house services, service apartments and leasing of property for hostel services, in four months.
Mortgage lender HDFC Ltd has signed an agreement to sell its 24.48per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 232.81 crore, according to a regulatory filing. The corporation has today entered into a share purchase agreement for sale of 47,75,241 equity shares of Re 1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host, Housing Development Finance Corporation Ltd (HDFC) said in the late night regulatory filing on Wednesday.
HDFC said the aggregate sale consideration for the sale shares is Rs 232.81 crore which is subject to various customary adjustments as agreed between the parties, and the final sale consideration shall be calculated accordingly.
HDFC to sell 24.48% share in Good Host for Rs 232.81 cr
HDFC had acquired 25.01 per cent stake in Good Host in August 2018 for Rs 69.5 crore
PTI | January 21, 2021 | Updated 12:24 IST
Good Host would cease to be an associate company of the corporation, HDFC said.
Mortgage lender HDFC Ltd has signed an agreement to sell its 24.48per cent stake in Good Host, a company engaged in the business of managing student housing facilities, for Rs 232.81 crore, according to a regulatory filing. The corporation has today entered into a share purchase agreement for sale of 47,75,241 equity shares of Re 1 each, representing 24.48 per cent of the issued and paid-up share capital of Good Host, Housing Development Finance Corporation Ltd (HDFC) said in the late night regulatory filing on Wednesday.