Wednesday , October 16 2019

TPG’s Shriram Capital stake sale stalls

Bloomberg

TPG Capital has paused a sale of its stake in privately-held Indian financier Shriram Capital as the country’s lingering shadow banking crisis hurts valuations, according to people with knowledge of the matter.
The private equity’s plan to sell its 10% stake has been held back, and will likely resume only as soon as the next financial year starting in April, said one of the people, who asked not to be identified as the information is private.
In August, five foreign investors, including Blackstone Group Inc and Carlyle Group LP, were shortlisted for talks to acquire a combined 30% stake in Shriram Capital from Piramal Enterprises Ltd and TPG. The sellers were seeking a valuation of $1.1 billion for the stake.

About Admin

Check Also

Ant Financial seeks loan up to $3.5bn at low rate

Bloomberg Ant Financial Services Group is seeking a syndicated loan of up to $3.5 billion ...

Leave a Reply

Your email address will not be published. Required fields are marked *