Olson buys 5.26 pc of Exhilway Finance for Rs 326 cr
Olson Private Equity Fund (OPEF) has picked up around 5.26 per cent in Canada based Exhilway Finance for Rs 326 crore. At this price company is valued at Rs 6197 crore.
Tweet-- Olson Private Equity Fund (OPEF) has picked up around 5.26 per cent in Canada based Exhilway Finance for Rs 326 crore. At this price company is valued at Rs 6197 crore.
While confirming the deal, Larry Carlton, chairman of Exhilway Finance said Olson invested US $65.2 million for a minority stake in the company. The company will use the proceeds for immediate expansion in developing countries like India & China. Exhilway Finance reported annual net profit of Rs 605 crore in 2009 and the client base increased to 7.26 million.
Exhilway Finance is one of the leading wealth manager with US $9 billion of asset under management (AUM). OPEF's Managing Director, Jonathan Frisk said "Exhilway Finance is growing rapidly, they carry an excellent reputation with high net worth investors, it's a win win deal for both the parties." After Olson deal Exhilway Finance promoters hold 79.77% stake in the company.