U.S. private equity funds Bain Capital LLC and Carlyle Group LP are in separate talks to purchase up to a 75 percent stake in India's Famy Care Ltd for about $400-$450 million, two sources with direct knowledge of the matter told Reuters. Another private equity fund, Warburg Pincus, is also holding separate discussions to buy a controlling stake in the Mumbai-based drug maker of contraceptive pills for women, the sources said.Hong Kong based AIF Capital will sell its 10-15 percent stake along with Famy promoters, said the sources, who declined to be named as the transaction is not yet public.The sources did not specify which specific promoters were selling their stakes."An official auction process is on. Final offers are expected by month-end," said one of the sources.
Shares of CG fell by 2.07% or $-0.66/share to $31.27. In the past year, the shares have traded as low as $24.95 and as high as $39.38. On average, 370202 shares of CG exchange hands on a given day and today's volume is recorded at 440985.
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