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This is an archive article published on December 2, 2010

Dewan to buy Deutsche Postbank unit

Deutsche Postbank AG of Germany has reached an agreement to sell its Indian mortgage lending unit to a buyer consortium led by Dewan Housing Finance Ltd.

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Deutsche Postbank AG of Germany has reached an agreement to sell its Indian mortgage lending unit to a buyer consortium led by Dewan Housing Finance Ltd.

The purchase price for the Indian mortgage lending subsidiary Deutsche Postbank Home Finance Ltd (DPHFL) will be in a range between Rs 1,054-1,079 crore (173-177 million euros) at current exchange rates.

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