Mumbai: Canada’s Brookfield Asset Management is in talks to acquire a majority stake in Mumbai-based IndoStar Capital Finance , said two people with direct knowledge of the matter. IndoStar Capital, which soared 10% to Rs 260.45 on Friday, has run up 34% in the last five trading sessions.Promoters owned 60.74% stake in the company as on December 31. IndoStar Capital Mauritius , a special purpose vehicle (SPV), held 57% stake in the finance company as on December 31. Since the IPO, IndoStar shares have declined nearly 57%. The nonbanking finance company had acquired IIFL’s commercial vehicle assets under management for Rs 3,620 crore along with its employees and 161 branches.

Source: Economic Times January 25, 2020 03:45 UTC