The Postbank Group sells its Indian mortgage lending subsidiary Deutsche Postbank Home Finance Ltd. (DPHFL) to a buyer consortium led by Dewan Housing Finance Ltd. The transaction is expected to close in the course of the first quarter of 2011 and is subject to approval by the competent Indian supervisory authority.
With the sale of its Indian subsidiary, Postbank continues the strategic approach it defined in its Postbank4Future program in 2009. Among other things, this lays down that Postbank will focus largely on its retail banking core business in the German market.
An international Linklaters team led by Wolfgang Sturm (corporate/M&A, Düsseldorf) and Savi Hebbur (corporate/M&A, London) provided comprehensive advice to Postbank in relation to this transaction.
The team also included Matthew Devey, Matthias Fuessel (both employment, Frankfurt) and Zebash Hirji, Simi George, Brinda Dayal Shoorji and Matthew Plaskow (all corporate/M&A, London).
Linklaters has bundled its extensive expertise and experience in transactions both inbound and outbound from India into a German India desk. Previously, the team had already advised Suzlon Energy, amongst others, in connection with a large number of transactions, such as the acquisition of a majority shareholding in REpower Systems and the acquisition of the Belgian company Hansen Transmissions Int. NV. from Allianz Capital Partners and Apax Partners Worldwide.
