Retail chain Viveks sells hire purchase arm to AIG Capital
By Our Corporate Bureau | 20 Dec 2006
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Chennai: With the consumer durable financing market witnessing intense competition, the promoters of the Chennai-based consumer durables retailer, Viveks Ltd have sold 75 per cent stake in their hire purchase arm Vivek Hire Purchase and Leasing Ltd to AIG Capital India Private Limited.
The transaction value is not known.
AIG Capital and Viveks, which has been running the Spencer's Superstore business since 2003 agter having acquired it a year earlier, have also signed a retailer cooperation agreement.
