24.09.2014 - L Capital, Temasek near Birla Retail deal
Marquee international investors L Capital, Temasek Holdings and International Finance Corporation are in the final reckoning to buy minority shares in Aditya Birla Group's retail holding company, people familiar with the matter said. Billionaire Kumar Mangalam Birla is in the midst of combining his group entities Madura Lifestyle & Fashion, Pantaloons department stores and More supermarkets into a new listed company valued at $2.3 billion in enterprise valuation. Birla could raise as much as $400 million from two or three investors, though a final quantum has not been decided yet. Standard Chartered Bank is advising Aditya Birla Group on the deal...............................................Full Article: Source
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