Slaughter and May is advising Sumitomo Mitsui Financial Group on its acquisition of a 74.9% equity stake in Fullerton India Credit Company Limited from Fullerton Financial Holdings Pte. Ltd.

Slaughter and May, working in conjunction with Anderson Mōri & Tomotsune and AZB & Partners, is advising Sumitomo Mitsui Financial Group (“SMFG”) on its acquisition of a 74.9% equity stake in Fullerton India Credit Company Limited (“FICC”) from Fullerton Financial Holdings Pte. Ltd., a wholly-owned independent portfolio company of Temasek, for approximately US$2bn. The acquisition remains subject to regulatory approval.

FICC has a strong pan-Indian distribution network with more than 650 branches and offers unsecured loans and loans against property, mainly to SMEs, the self-employed, and mass market customers.