FMO acquires 3.5 per cent stake in 2 Shriram entities
28 Oct 2004
Chennai: The Netherlands Development Finance Company, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N V (FMO) has acquired 3.95 per cent equity in the Chennai-based Shriram Investments Limited and Shriram Transport Finance Company Limited, the two-truck financing outfits of the Rs4,000-crore Shriram group.
UTI Bank, Reliance Capital and Citicorp have already
invested into the two companies.
According
to R Thyagarajan, chairman, Shriram Group, "The
association
with FMO goes back to 2003 when the Dutch company
invested in term debt of the two companies."
Last year FMO lent $6 million each to the two truck
financing companies.
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