Värde Partners, General Atlantic’s pacts to invest in PNB Housing fall through

VCCircle | May 16, 2019 at 4:09 PM
  • Alternative investment firms General Atlantic and Värde Partners have terminated agreements to buy a 13.1% stake in PNB Housing Finance Ltd for Rs 1,851.6 crore ($268 million) from Punjab National Bank.
  • The pact with General Atlantic was required to be concluded by May 15 and was contingent upon approvals from the Competition Commission of India, the National Housing Bank and the Reserve Bank of India.
  • General Atlantic is an existing investor in the housing finance firm with a 9.91% stake as on March-end.