Societe Generale, Burmans pick up stake in Apeejay Finance

Kolkata, Jun 5 (UNI) Societe Generale, the French financial services company, in partnership with the Burmans of Dabur has picked up 75 per cent stake in Apeejay Finance.

Apeejay Finance is the subsidiary of Kolkata based Apeejay Surendra Group.

'' The deal was signed on June 30. The transaction is subject to regulatory approvals,'' the Apeejay Surendra Group said without disclosing the deal value.

The Apeejay Surendra group has retained 25 per cent stake in the company.

''The partnership will bring in valuable contributions from the partners in terms of funding, processers and distribution network and help Apeejay Finance scale new heights,'' Apeejay Group Chairman Karan Paul said.

The Burman family is active in the consumer goods, insurance and financial sectors in India and is associated with the private UK fund Promethean Investments.

Societe Generale is one of the largest financial services groups in the Euro-zone.

UNI TJP KK RN1840