Blackstone, Bain in bid for India's Future Capital Holdings
The Blackstone Group and Bain Capital have been identified as potential acquirers of a stake in India's Future Capital Holdings (FCH), the financial services unit of the Future Group.
The two global private equity firms are in discussions with FCH about the price of a potential deal and whether to involve both funds or just one, the Financial Express reported.
Morgan Stanley has been hired to run an auction for the stake, while KPMG India is responsible for due diligence on behalf of one of the buyers.
In August, local reports noted that KKR was also in the running for the asset.
This is the second deal in which Blackstone has been implicated in so many weeks, following rumours that the firm is nearing a buyout of Reliance Group's cellular towers alongside The Carlyle Group. According to The Times of India, the exclusive negotiations look to value the 50,000 towers at $3-3.5 billion, poising the deal to be one of the largest-ever PE transactions in India.
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