Goldman Sachs PE is picking up 50% stake in Amber Enterprises, one of India’s largest white goods makers. The international private equity fund will pay Rs 220 crore to existing PE investor Fairwinds Private Equity (formerly Reliance PE) to acquire its 34% stake in the company and Rs 200 crore to acquire additional 16% stake over the next three years, according to three people with direct knowledge of the deal. The deal values the company at Rs 1,150-1,200 crore. Fairwinds had acquired 34% stake in Amber through two tranches for Rs 110 crore in 2012 and 2013. Last year, Ramesh Venkat, the head of Reliance PE acquired the business along with others and rechristened the $200 million fund as Fairwinds. The fund has made a 25% internal rate of return and about 1.9% return on its investment in the company. This is the third round of private equity funding in the company and the additional funds raised will help the company fasttrack its growth plans .. Read more at: http://economictimes.indiatimes.com/articleshow/50631987.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Source: Economic TimesGoldman Sachs picks 50 per cent stake in Amber, deal values company at Rs 1,200 crore.
Industry: Retail 2016-01-19