2 Private equity funds from Europe and a couple of pharma companies from the US and India are in the race to buy Narmada Gelatine,a Chhabria group firm.Prakash Nene ,director and India Head of the Jumbo group expects to sell its gelatine business for Rs 55-60 crore. He added "Right now,our gelatine business is on the block.There are a number of private funds making inquiries.Besides,a company in the US and one in India too are talking with us." Mr Nene, however, did not want to divulge the names of the funds or the pharma companies interested in the deal.The Jumbo Group has already exited from a number of its Indian bussinesses.
The latest in line is the gelatine business.It has already sold the liquor and beer business of the Shaw Wallace Group,its tyre business (Falcon Tyres), engineering company Mather Platt & Hindustan Dorr- Oliver.In December, the Kolkata -based Ruia Group has bought three tyre companies -Dunlop India ,Falcon Tyres and India Tyres-from the Chabbria family for Rs 200 crore.The group had sold the Shaw Wallace liquor business to the Vijay Mallya-owned UB Group. |
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| Posted : 1/13/2006 |
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