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Published
May 18, 2018
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Vishal Mega Mart in acquisition talks

Published
May 18, 2018

Vishal Mega Mart, which sells value clothing among other items, appears set to be acquired by a consortium of the Kedaara Capital and Partners Group.

Vishal Mega Mart is in acquisition talks with Kedaara Capital and Partners Group - Vishal Mega Mart- Facebook


A deal allowing the Kedaara Capital and Partners Group to acquire Vishal Mega Mart is expected to be announced within a week, two sources close to the matter told Livemint. The transaction is valued at an estimated 5,000 crore rupees (approximately 752 million US dollars).

Vishal Mega Mart is currently owned by TPG Capital and Shriram Group. “Kedaara and Partners Group will be signing a definitive agreement in a week’s time to acquire Vishal Mega Mart. While Kedaara will be looking after front-end operations at the firm, Partners Group will manage the back-end,” Livemint reported one anonymous source as saying.

As the only up to 51 percent foreign direct investment (FDI) is allowed in multi-brand retail in India, a consortium has been made between the Swiss business Partners Group and the Indian business Kedaara Capital. The majority of the investment is expected to come from Partners Group and Kedaara Capital will be the local partner. So far, Kedaara Capital, Shriram Group, and TPG have all declined to comment on the matter.
 

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