Merrill Lynch to buy US $200 Million Truck portfolio from Shriram
Shriram Transport Finance Company Limited (Shriram), a leading player in the
NBFC segment and India's largest truck financing company today announced that
Merrill Lynch, through its NBFC arm in India, DSP Merrill Lynch Capital Ltd
(Merrill Lynch) has offered to buy truck portfolio from Shriram amounting to US
$200 million during the current financial year 2006-07. The first tranche of US
$100 million has been already disbursed on 7th September, 2006 and the next
tranche of US $100 million will be disbursed during the 3rd quarter.
DSP Merrill Lynch Capital, a 100% subsidiary of DSP Merrill Lynch Limited, is a Non-Banking Finance Company registered with the Reserve Bank of India.
DSP Merrill Lynch Limited is one of the leading investment banking and securities companies in India. Merrill Lynch & Co. owns 90% of DSP Merrill Lynch Limited, which has consistently been ranked the top investment bank in India.
Shriram Transport Finance Company Limited, incorporated in the year 1979, is the largest asset based NBFC in the country enjoying leadership position in the Commercial Vehicle Financing business.
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