Haier Appliances India, ranked third after LG and Samsung, has been considering a plan to dilute 25% to 51% equity, including an MG Motors-style structure, in which an Indian entity becomes the single largest shareholder. It has been seeking a $2-2.3 billion valuation, which includes a control premium, said the people cited. The company has been working with Citi since late last year to tap large family offices and private equity funds for a stake sale.
In this battle of billionaires, the other groupings include TPG and the Burman family of Dabur; Goldman Sachs and the Amit Jatia family; and GIC of Singapore with BK Goenka of Welspun, after initially joining forces with Uday Kotak (yes GIC) The combine of the family office of Puneet Dalmia of the Dalmia Bharat Group and Bain Capital have opted out.
Source : After Sunil Mittal, Mukesh Ambani's Reliance aims for Haier India stake
In this battle of billionaires, the other groupings include TPG and the Burman family of Dabur; Goldman Sachs and the Amit Jatia family; and GIC of Singapore with BK Goenka of Welspun, after initially joining forces with Uday Kotak (yes GIC) The combine of the family office of Puneet Dalmia of the Dalmia Bharat Group and Bain Capital have opted out.
Source : After Sunil Mittal, Mukesh Ambani's Reliance aims for Haier India stake