Microfinance firm CreditAccess Grameen Ltd., said on Wednesday that it has acquired Madura Microfinance Ltd, and will eventually merge it into its own business. CAGL will first acquire a 76.2% stake in MMFL from its existing shareholders for cash, and later merge the businesses and acquire a 100% stake, giving MMFL shares of the acquirer instead. The transaction is subject to regulatory approvals. CreditAccess said in an exchange filing that the acquisition will help build a large microfinance firm, and gives it access to 11.1 lakh borrowers and 430 branches of Madura Microfinance, as on September 30, 2019.