DLL India is a subsidiary of De Laz Landon International BV, owned by Rabobank.
With this acquisition, Kotak will reach out to over 25,000 customers with a total standard loan of approximately ₹582 crore.
In addition, Kotak has also acquired a non-performing asset portfolio with a total debt of around ₹69 crore.
In the next few months, the functions related to DLL India will be shifted to Kotak in a channelized manner. Till 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 for the transaction.
KMBL’s commercial banking business is focused on meeting the banking and financial needs of customer areas beyond metro and urban centres.
“DLL India has been operating in the country since 2013 and has built a strong client portfolio. The acquisition of DLL India’s Agri & Healthcare Equipment portfolio by Kotak Mahindra Bank reiterates our continued commitment towards a strong presence in the region and provides us access to a high quality customer base.