Current stakeholders in Aavas, Kedaara Capital and Partners Group, are poised to exit their investment after eight years, securing a substantial 6x return.
Torrent is actively exploring various avenues to secure funds and aims to conclude this process by the end of September before proceeding with a formal offer for the acquisition.
The government and LIC together are looking to sell 60.72 per cent in IDBI Bank and had invited bids from potential buyers in October. The last date for submitting Expression of Interest (EoI) or preliminary bids was set at December 16, which was later extended to January 7.
A buyout of Toshiba, which has a market capitalization of almost $18 billion, would possibly be private equity’s biggest ever deal in the country.
The London-listed consumer goods company had been reviewing options for its global tea operations, home to PG Tips and Lipton brands.
Experts add newer brands and more local businesses will come on as advertisers, as the city-centric fanbase grows.
Private equity firm CVC Capital Partners, which has interests in rugby, football and other sports, makes its India debut with a successful Rs 5,625-crore bid for the Ahmedabad team
CVC’s India portfolio includes Bengaluru-based HealthCare Global Enterprises, the country’s largest cancer care provider, and UnitedLex, a legal services outsourcing firm. Earlier on July 12, Shilpa Medicare had approved the transfer of its API business to a wholly owned subsidiary via a slump sale.
Private equity firm CVC Capital Partners confirmed on Tuesday that investors Waddell & Reed, Norges Bank and BlackRock had paid USD 1.6 billion in cash for a 21% stake in the Formula One motor racing business.
Luggage maker Samsonite, backed by private equity firm CVC Capital Partners, moved closer to its USD 1.5 billion Hong Kong initial public offering, setting an indicative range for the deal on Monday as it bet on booming Asian demand for global consumer brands.