Private Equity firm Warburg Pincus will buy Pantaloon India’s Future Capital for in a deal that would be valued at $100-125mn, reports said.
The US-based firm would pay Rs.165-170 per share, which is a 18-24% premium to Future Capital's Friday’s closing price of Rs.136.95.
“The board (of Future Capital) is going to meet tomorrow to approve the transaction,” reports said citing sources.
Warburg Pincus has investments in India to the tune of $3bn through in companies such as Bharti Airtel and Kotak Mahindra Bank.
Kishore Biyani’s Pantaloon India is reeling under debt of Rs.58bn.