May 25, 2012, 06.20 PM | Source: CNBC-TV18
CNBC-TV18’s Kritika Saxena reports, quoting sources, that the board of Warburg Pincus is likely to have given its approval for the purchase of Future Capital.
Kritika Saxena (more)
Reporter, CNBC-TV18 |
Warburg Pincus has given its official approval for this particular deal. According to sources, the document containing the terms is ready, the final details of the valuations and the contours of the details are ready and only needs to be signed.
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The document confirming the sale is to be signed at an important meeting on Friday to be attended by the Future Capital management, Pantaloon promoters and key Warburg Pincus executives from India and the global board at Warburg Pincus..
The deal has been valued at Rs 160-175 per share, but the final and exact price is awaited.
This deal has been triggered by an open offer and will a first-of its-first investment for Warburg Pincus which usually engages in minority or 5-6% investment.