TPG gets green light for Vishal
TPG Capital's protracted bid to pick up assets from India's struggling Vishal Retail group appears finally concluded, as Vishal's board approved the sale of its wholesale, institutional sales and franchise businesses to the private equity firm.
Local strategic Shriram Group, also a TPG investee, has picked up Vishal's retail trading business, for a total deal value of around INR100 crore ($21.5 million). TPG apparently used Shriram in the transaction...
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