<p>Under the terms of the deal, Union de Credit pour le Batiment (UCB) will acquire a 49.9% stake in Sundaram Home Finance (SHFL), a wholly-owned subsidiary of Sundaram Finance (SFL). SFL will retain a 50.1% equity stake in the company. The joint venture will be named Sundaram BNP Paribas Home Finance. <br /><br />Significant synergies are expected on both sides and the joint venture aims at growth, strongly supported by an exclusive distribution team provided by SFL and UCB&#0039;s specialization in housing finance globally. <br /><br />Commenting on the joint venture, S Viji, chairman of SFL, said: The joint venture will combine the strength of the Sundaram Finance brand, the extensive distribution reach and retail credit management expertise of SF with the specialized housing finance skills of UCB and the global brand strength of BNP Paribas. With this joint venture, we are well positioned to build on the already strong platform that has been established by SHFL. We believe that this partnership will put the company on a faster growth path.<br /><br />The transaction is subject to appropriate regulatory approvals and is expected to be completed over the next three months.</p>