Cholamandalam Investment, Aptus Value deny M&A talks

Chennai, March 9

Conglomerate and acquisitive Murugappa Group's Cholamandalam Investment and Finance Company Ltd on Thursday denied it is interested in Aptus Value Housing Finance India Ltd.

In a statement, Cholamandalam Investment referring to a news report that said the company is interested in management control of the home finance company said: "We wish to clarify that Chola has not expressed any interest either in the past or present in acquiring Aptus Value Housing Finance India Ltd."

On the other hand, Aptus Value Housing replying to a clarification sought by BSE on the news report said: "We hereby confirm that the Company is not part of any such negotiations/events as mentioned in the news report."

The Aptus Value Housing was promoted by M. Anandan who was earlier with the Murugappa Group.