Future Capital Holdings shares rose over 6%, touching the monthly high of Rs135.85, on report a private equity fund is in preliminary negotiations to acquire a controlling stake in the Kishore Biyani-controlled finance services company.
According to the report, CX Partners, the private equity (PE) fund promoted by former Citigroup executive Ajay Relan, is in preliminary negotiations to acquire a controlling stake in Future Capital Holdings.
Report suggested that the New Delhi-based PE firm recently held discussions with the top management of Future Capital and will shortly start due diligence. The Future group wants to sell its entire stake in the company to raise cash and cut the group's debt, which has touched Rs7800 crore, report added.
As on December 31, 2011, Future group firm Pantaloon Retail (India) held 53.67% stake in Future Capital Holdings.
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According to the report, CX Partners, the private equity (PE) fund promoted by former Citigroup executive Ajay Relan, is in preliminary negotiations to acquire a controlling stake in Future Capital Holdings.
Report suggested that the New Delhi-based PE firm recently held discussions with the top management of Future Capital and will shortly start due diligence. The Future group wants to sell its entire stake in the company to raise cash and cut the group's debt, which has touched Rs7800 crore, report added.
As on December 31, 2011, Future group firm Pantaloon Retail (India) held 53.67% stake in Future Capital Holdings.
....more info