Carlyle exits India's Tirumala Milk Products to trade buyer
French dairy group Groupe Lactalis has acquired Tirumala Milk Products for a reported sum of $250–300 million, allowing The Carlyle Group to exit its 26.38% holding in the South Indian dairy producer.
Carlyle invested $22 million in Tirumala in May 2010, valuing the company at $85 million. The private equity firm has generated a money multiple of at least 3x, based on the reported selling price. Tirumala...
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