IndiaInsurance
13th September 2010, 06:59 PM
Beleaguered discount retailer Vishal Retail today said it would sell its retail trading business to Shriram Group, and the wholesale division to the private equity firm TPG, for a combined value of Rs 100 crore. In an announcement to the stock exchanges, Vishal retail said the sale, however, does not include the firm s properties in Hubli, Kolkata, Dehradun and Jabalpur. Shriram Group is a Chennai-based diversified group, which deals in property, finance and insurance. Vishal Retail, one of India s largest discount chains got into financial trouble about a year ago. Last year, the company underwent a corporate debt restructuring programme ...
More... (http://in.biz.yahoo.com/100913/50/baw8m7.html)
More... (http://in.biz.yahoo.com/100913/50/baw8m7.html)