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BNP Paribas gets stake in Seri Infrastructure Finance

BNP Paribas Lease Group, a 100% subsidiary of BNP Paribas Group, has decided to sell its entire 50% stake in Srei Equipment Finance to Srei Infrastructure Finance. The group will then have a 5% stake in Srei Infrastructure Finance, which will now be the parent company of Srei Equipment Finance. The deal will enable BNP Paribas to play a larger role in the infrastructure finance business, according to Hemant Kanoria, CMD, Srei Infrastructure Finance. The Kanorias, who lead the Srei Group, had been restructuring their investment portfolio for quite some time. Recently, Srei Infrastructure Finance sold its stake in Viom Networks to American Tower Corporation for Rs 2,952 crore. Srei Infrastructure has investments across the infrastructure sector, like roads to power projects. The total consolidated asset under management of Srei Infrastructure stood at Rs 36,236 crore.

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