Private Equity

Private Equity Fund Investments

Advent closes in on Eureka Forbes acquisition for Rs.5,000-Cr

Economic Times  

Private Equity group Advent International has emerged as the frontrunner to acquire Eureka Forbes, the consumer durables flagship of the diversified Shapoorji Pallonji Group, for INR 4,500-5,000 crore. Both sides have entered into “deal exclusivity” for bilateral negotiations before a formal announcement is made in the coming weeks. The deal, once completed, will further help the leveraged 154-year-old construction and real estate conglomerate pare debt and focus on core operations. Currently housed within the listed Forbes & Co. as a subsidiary, the loss-making Eureka Forbes business will get demerged from its parent as part of an ongoing internal restructuring exercise and sold to Advent after approval by the National Company Law Tribunal (NCLT).