Future Capital surges on Warbug Pincus buy
Shares in Future Capital Holdings surged 8.3%, heading to their highest single day percentage gain since April 30, as US private equity firm Warburg Pincus LLC is set to buy a majority holding in the company for USD 100-125 million from Pantaloon Retail India.
June 04, 2012 / 11:44 IST
Shares in Future Capital Holdings surged 8.3%, heading to their highest single day percentage gain since April 30, as US private equity firm Warburg Pincus LLC is set to buy a majority holding in the company for USD 100-125 million from Pantaloon Retail India.
Warburg Pincus will pay Rs 165-170 per share, which represents a premium of 18-24% to Future Capital's Friday closing price, two sources with direct knowledge of the matter told Reuters on Sunday.Future Capital shares last traded at Rs 148.25, below the reported offer price, ahead of its board meeting later in the day to approve the transaction.Shares in Pantaloon Retail are up 4%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
