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Magma Fincorp merges Magma ITL Finance | M&A Critique - 0 views

mnacritique.mergersindia.com/agma-fincorp-subsidiary-merger Magma Fincorp ITL Finance Merger Amalgamation acquisition
shared by mnacritique on 17 Apr 18 - No Cached
  • mnacritique on 17 Apr 18
     
    Magma Fincorp acquired 26% joint venture partner in August, 2017 and immediately thereafter it announced the merger. Before merger, it seems MITL have cleaned its book by providing NPAs and even booking substantial loss in FY17. At present both the companies are having low margins and high NPA's.
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