Mirae Group has received board approvals alongside BNP Paribas for the acquisition of Sharekhan, a prominent player in India's financial sector. The share purchase agreement will be signed in the next few days, the boards said in a statement.
The transaction will witness the purchase of 100% stake in Sharekhan Group, including its subsidiaries like Sharekhan BNP Paribas Financial Services Limited, Espresso Financial Services Private Limited, and Sharekhan.com India Private Limited (Education Business).
Mirae Group's acquisition, subject to the signing of the Share Purchase Agreement in the coming days, signifies a strategic shift in the industry's dynamics.
The completion of this acquisition is contingent upon securing regulatory approvals, with the final closing anticipated in the latter half of 2024 or potentially in early 2025.
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