Sumitomo Mitsui Financial Group, Inc. (TSE:8316) acquired remaining 25.1% stake in SMFG India Credit Company Limited from Angelica Investments Pte Ltd. for $700 million on March 6, 2024. As a result of the transaction, SMICC will become a wholly owned subsidiary of SMFG. Ernst & Young Transaction Advisory Services Co. Ltd. acted as financial advisor to Sumitomo Mitsui Financial Group, Inc.

Sumitomo Mitsui Financial Group, Inc. (TSE:8316) completed the acquisition of remaining 25.1% stake in SMFG India Credit Company Limited from Angelica Investments Pte Ltd. for $700 million on March 6, 2024.