MUMBAI (Reuters) - IL&FS Investment Managers, the private-equity arm of IL&FS, said it is not considering an investment in Godrej Hershey Ltd, an Indian joint venture between Hershey Co and the Godrej group.
The Economic Times newspaper reported earlier on Wednesday that IL&FS Investment was in advanced talks to buy Hershey's 51 percent stake in the joint venture.
"It (IL&FS Investment Managers) does not invest directly in any company and is not considering an investment in Godrej Hershey Limited," IL&FS Investment said in a statement.
In July, the Economic Times had reported Godrej Consumer Products was looking to buy the stake from Hershey.
Hershey said it does not comment on speculation and that it continues to run its operations in India through its partnership with Godrej, according to the report on Wednesday. It did not immediately respond to a Reuters request for comment.
The Godrej group declined comment to the newspaper and could not be reached for a comment by Reuters.
Shares of IL&FS Investment Managers ended 3.54 percent up at 30.7 rupees in a weak Mumbai market.
(Reporting by Nandita Bose; Editing by Aradhana Aravindan)
