Bank of America Enters into a Joint Venture Agreement with Jio Financial Services Limited to Acquire up to 49.9% in Jio Credit Limited
Bank of America has agreed to invest up to $1.9 billion to acquire a 49.9% stake in Jio Credit Limited, a digital lending subsidiary of Jio Financial Services. The joint venture pairs BofA's global financial expertise with Jio's digital reach in India, aiming to capitalize on the country's rapid economic growth.
Key figures
- Deal Value Usd
- 1900000000
- Investment inr
- ₹18,268 crore
- Target aum usd
- 3200000000
AI analysis
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