Deals
KKR, Blackstone Are Said to Consider $3 Billion Shriram Deal
- Buyout firms discuss investment in Indian financing group
- Negotiations held up by market turmoil after IL&FS default
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Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
KKR & Co. and Blackstone Group LP are among suitors that have expressed interest in acquiring a stake in Shriram Group, the Indian finance conglomerate backed by billionaire Ajay Piramal, people with knowledge of the matter said.
The two private equity firms have each held preliminary talks in recent months about buying stakes in Chennai-based Shriram Group owned by Piramal Enterprises Ltd., TPG and an employee trust, according to the people. An investment could total about $3 billion, the people said, asking not to be identified because the information is private.