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Centrum Group to acquire L&T Finance unit

The Centrum Group will acquire the supply chain lending business of L&T Finance, according to news reports. The unit has an outstanding loan book of Rs 8 billion. L&T Finance is divesting the business as part of its attempt to cut is wholesale lending business and concentrate on retail and housing segments. The supply chain finance business provides loan and working capital support to manufacturers and dealers of large industrial equipment. Centrum may absorb about 60 people, who are not part of the unit.

 

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