DLL India is a subsidiary of De Lage Landen International BV, owned by Rabobank.
This acquisition gives Kotak access to over 25,000 customers with an outstanding standard loan totaling approximately 582 Cr.
In addition, Kotak has also acquired the portfolio of distressed assets with an outstanding total loan of around ₹69 cr.
Operations of DLL India will be channeled to Kotak over the next few months. Until then, the portfolio will continue to be managed by DLL India, the company said in a press release.
KPMG acted as exclusive financial advisor to the shareholders of DLL India on this transaction.
KMBL’s commercial banking business is focused on serving the banking and financial needs of customer segments outside of metropolitan and urban centers.
“DLL India has been operating in the country since 2013 and has built a strong client portfolio. Kotak Mahindra Bank’s acquisition of DLL India’s Agri and Healthcare Equipment portfolio reaffirms our continued commitment to having a strong presence in this space and gives us access to a high quality customer base,” said D. Kannan, Group President – Commercial Banking , Kotak Mahindra Bank.