carlyle group/the (CG) Key Developments
Aditya Birla Reportedly To Sell 25% Stake In Madura Fashion, Pantaloons and More Supermarkets
Jul 16 14
Aditya Birla Management Corporation Pvt. Ltd. has reportedly mandated Standard Chartered Bank to divest 25% stake in a new retail company to be formed through the merger of Madura Garments Lifestyle Retail Company Limited, Pantaloons Fashion & Retail Limited (BSE:535755) and More Supermarkets. Apax Partners LLP, The Carlyle Group LP (NasdaqGS:CG), Kohlberg Kravis Roberts & Co. (NYSE:KKR) and TPG Capital, L.P. are reportedly among the marquee investors with preliminary interest in the deal.
Aditya Birla To Reportedly Merge Its Retail Business
Jul 15 14
Aditya Birla Nuvo Limited (BSE:500303) is planning to restructure the retail business of the group and create one listed behemoth for this vertical, reported Economic Times citing sources with direct knowledge of the matter. The sources said that KM Birla aims to de-merge Fashion & Lifestyle vertical from Aditya Birla Nuvo and create a retail umbrella company led by Madura Garments Exports Ltd. The sources added that Madura Garments, Jaya Shree Textiles, Pantaloons Fashion & Retail Limited (BSE:535755) and more are likely to be merged as part of the process. Aditya Birla group has already initiated the first step to unlock value in the retail business. The group is in talks with large private equity players like Kohlberg Kravis Roberts & Co. (NYSE:KKR), The Carlyle Group LP (NasdaqGS:CG), Apax Partners LLP, Temasek Holdings (Private) Limited, The Blackstone Group L.P. (NYSE:BX) to sell a minority stake in the company. A source indicates that KM Birla's company may be expecting to raise about INR 30 billion by selling close to 20% stake in the retail business to at least two private equity firms. A source pointed out that Aditya Birla Nuvo shareholders will get shares in the retail company as part of the de-merger. Sources said that Aditya Birla group thinks that the time is right to unlock value in the retail business. Aditya Birla group in its e-mail response to ET Now's query said, "We do not comment on market stories." None of the private equity firms mentioned offered a comment on the development.
Investors Reportedly Eyes HPQ's Stake In MphasiS
Jul 15 14
Tech Mahindra Limited (BSE:532755) is reportedly eyeing 60.49% of Hewlett-Packard Company's (NYSE:HPQ) stake in MphasiS Limited (BSE:526299). Tech Mahindra has also initiated exploratory talks with respect to HPQ's Mphasis stake. However, The Carlyle Group LP (NasdaqGS:CG) also is likely contender for HPQ's stake in Mphasis. Earlier, it was reported that Carlyle, The Blackstone Group L.P. (NYSE:BX) and Larsen & Toubro Infotech Limited along with Tech Mahindra eyes $1 billion stake in MphasiS.
Carlyle Reportedly Holds Talks About £2 billion Stake Sale in RAC
Jul 9 14
The Carlyle Group LP (NasdaqGS:CG) (‘Carlyle’) has been holding secret talks about a £2 billion stake sale of RAC Limited. Sky News has learnt that Carlyle is in preliminary discussions with competitors including Apax Partners, LLP and BC Partners about an outright takeover of RAC. The Blackstone Group L.P. (NYSE:BX) has also been sounded out about its appetite for a deal but is not thought to be interested. It was unclear on July 9, 2014 whether any of the talks with other buyout firms would lead to a deal, with several sources close to the RAC saying that they still expected it to become a publicly-listed company. Sky News revealed in May 2014 that Carlyle had appointed Lazard to advise it on options to exit its investment, on which it hopes to have doubled the value of the RAC. The RAC, Carlyle, Apax Partners and BC Partners declined to comment.
Lafarge Tarmac Is Up For Sale
Jul 7 14
A queue of bidder expected for Lafarge Tarmac Holdings Ltd. At the same time Anglo American plc (LSE:AAL)has agreed to sell its 50% stake in the jointly owned Lafarge Tarmac to the French company for at least £885 million. Breedon Aggregates Limited (AIM:BREE) and CRH plc (LSE:CRH) are the potential bidders for Lafarge Tarmac. But a consortium of Blackstone Mortgage Trust, Inc. (NYSE:BXMT) Cinven Limited and a Canadian pension fund already running its slide rule over Holcim Lafarge assets. Other potential bidders are Apollo Global Management, LLC (NYSE:APO), The Carlyle Group LP (NasdaqGS:CG), TPG Capital, L.P., BC Partners, CVC Capital Partners Ltd. and Kohlberg Kravis Roberts & Co. (NYSE:KKR).