stake sale – The News Desk

Adani, Wilmar may sell part of their stake in AWL to private equity firms

6Dec

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Business

Adani, Wilmar may sell part of their stake in AWL to private equity firms

The Adani group and Singapore’s Wilmar International are learnt to have approached several private equity (PE) firms to sell part of their stake in their consumer-staple joint venture, Adani Wilmar. Top executives of some of these PE firms told Business Standard that the two partners, which own 44 per cent each in Adani Wilmar, have offered them a majority stake. The Adani group and Wilmar International declined to comment on the matter. The proposed sale will be one of the largest transactions in the FMCG industry, with the market valuation of Adani Wilmar standing at Rs 51,513 crore as of Wednesday. At its peak in January this year, the company’s valuation was Rs 81,268 crore. However, the share price of the company, along with that of ot...

Cipla founding family’s stake sale in jeopardy over $13 bn valuation target

By Anto Antony The sale of a stake in Cipla Ltd. is in jeopardy as potential buyers have balked at the Rs 1.09 trillion ($13.1 billion) valuation members of the founding family are targeting for the Indian firm in a deal, according to people familiar with the matter. Negotiations between the family members and prospective buyers, including companies in the industry and private equity firms, are no longer moving forward, as the founders are demanding about Rs 1,350 per share, the people said. The price represents a premium of about 10 per cent over Wednesday’s close, according to Bloomberg calculations. The family shareholder group, known in India as the promoter group, controls around 33 per cent of Cipla’s shares, which are worth nearly $4 billion at W...

Bain to buy 90% stake in Adani Capital and Adani Housing for Rs 1,440 cr

The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs. 1,440 crore. The total valuation of the Adani financial services business stands at Rs. 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake. Bain will also invest an additional Rs. 983 crore as primary capital in the company to facilitate its growth. Besides, Bain Capital will also make available a liquidity line of Rs. 409 crore as non-convertible debentures (NCDs) to the company. Gautam Adani, chairman, Adani Group, said Gupta and his team have not only built a financial servic...