BENGALURU, May 29 - Baring Private Equity Asia EQT is set to buy India-based Housing Development Finance Corp's
educational loan unit - Credila Financial Services - for about $1.3 billion to $1.5 billion, The Economic Times reported on Monday. The buyout fund will acquire 90% of the company, with HDFC retaining the remaining 10% stake, which it may sell over the next two years, the report said, citing people aware of the matter.
A formal announcement is expected by June-end, ahead of the merger between HDFC Ltd and HDFC Bank LtdBaring has formed a consortium with ChrysCapital for the transaction, they said.Reporting by Anuran Sadhu and Kashish Tandon in Bengaluru; Editing by Sonia Cheema
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Saudi Arabia has ambitious plans for space. Its astronauts on SpaceX's private Ax-2 mission are just the start, official saysMichael Wall is a Senior Space Writer with Space.com and joined the team in 2010. He primarily covers exoplanets, spaceflight and military space, but has been known to dabble in the space art beat. His book about the search for alien life, 'Out There,' was published on Nov. 13, 2018. Before becoming a science writer, Michael worked as a herpetologist and wildlife biologist. He has a Ph.D. in evolutionary biology from the University of Sydney, Australia, a bachelor's degree from the University of Arizona, and a graduate certificate in science writing from the University of California, Santa Cruz. To find out what his latest project is, you can follow Michael on Twitter.
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