IL&FS Investment Managers, the private equity investment unit of IL&FS, is reportedly in talks to buy out Hershey Company’s 51% stake in its Indian joint venture with Godrej Group. The joint venture, which is likely to be valued around Rs 550 - Rs 600 crore, is likely to fall apart due to differences between the two partners over business strategy.
The deal will allow IL&FS to regain ownership of the firm as its private equity arm was the financial investor from whom Hershey had bought a 40% stake in 2007 for a reported $60 million. IL&FS Investment has signed the term sheet for the deal and is willing to put in additional funds to boost Hershey's Indian operations, the report said.
| Company Name | CMP |
|---|---|
| ICICI Prud.Asset Man | 3420.80 |
| HDFC Asset Mngt. Co | 2799.50 |
| Nippon Life India As | 1032.85 |
| Aditya Birla Sun AMC | 1057.95 |
| UTI Asset Management | 1065.00 |
| View more.. | |
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