WARBURG PINCUS TO TAKE 25% IN SHOPPERS' STOP FOR $10-15 M
Article Abstract:
Warburg Pincus, a fund managing company of Hong Kong, is acquiring 25.1 percent stake in Shoppers' Stop with an investment of $10-15 million. It is awaiting the permission of the Foreign Investment Promotion Board for buying the shares of Shoppers' Stop. This will be its fourth investment in India. Shoppers' Stop may use the proceeds of the sale of the stake in opening 10-15 new stores in the next 5 years. Shoppers' Stop is a supermarket chain. It does business in Bangalore, Mumbai and Hyderabad. (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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STATE MAY SELL NGEF UNITS SEPARATELY
Article Abstract:
The Karnataka government has decided to sell the loss-making NGEF Ltd by calling bids from interested companies who can either buy the company as a whole or as individual divisions separately. This moves comes after some groups evinced initial interest in acquiring one or two divisions of NGEF rather than the whole company. The divisions of NGEF include Power Engineering, transformer and motor division. In 1997-98, the company incurred a loss of Rs18 crore on a turnover of Rs173 crore. (gsh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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