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Bharat Financial Inclusion for acquisition

Bharat Financial Inclusion, formerly SKS Microfinance, is offering itself to a takeover or partial sale of its stake to a strategic investor, its MD M.R. Rao, said, according to news reports. Three banks – IDFC Bank, IndusInd Bank and RBL Bank – are said to be in talks for the acquisition, the reports added. Rao said a consultant is evaluating all options including a share swap or an all cash deal. Rao said the idea of striking strategic deals with banks came when it was mulling to engage neighborhood retail stores to provide cash­in and cash­out facilities to borrowers. Both RBL Bank and IDFC Bank have previously acquired stakes in other microfinance companies.

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