Apollo Global set to invest $125 mn in Hero FinCorp
Apollo will end up owning a 9%-11% stake in the NBFC on a fully diluted basis and have a board seat. Other than flagship Hero MotoCorp that owns 40% of the company, the Munjal family, the promoters of Hero MotoCorp also have substantial shareholding in Hero Fincorp of 30-35%.
Eight Capital plans to sell its 35% stake in J.C Flowers ARCEight Capital has identified a buyer for its stake and the proposal on it is pending with the Reserve Bank of India for approval. J. C. Flowers ARC is a three-way joint venture between Eight Capital with 35%, London based hedge fund Emso Asset Management with 15% stake and J. C. Flowers & Co with 50% stake.
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