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Japan’s Sumitomo to buy Fullerton India for Rs 19,300 crore Top Searches Japan’s Sumitomo to buy Fullerton India for Rs 19,300 crore TNN / Updated: Jul 7, 2021, 12:36 IST FacebookTwitterLinkedinEMail MUMBAI: Sumitomo Mitsui Financial Group, the Japan headquartered global financial major, is buying out Fullerton India, the Indian non-banking financial arm of Singapore-based Fullerton Financial, for about $2.6 billion, or nearly Rs 19,300 crore. This is the largest Japanese buyout in the Indian financial services space. Moreover, this is the first time that a Japanese firm is getting into general retail lending in India. Initially, Sumitomo will buy 74.9% in Fullerton India and the balance 25.1% at a later date, a release from the company being acquired said. Although both the companies did not disclose the deal value, sources said Sumitomo will pay $2 billion initially for the nearly 75% stake in Fullerton’s India arm, and the balance once it becomes a fully owned subsi

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