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IL&FS Investment Managers may buy Hershey’s stake in India JV: Report

22 Feb 2012 Evaluate

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.


 

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