NEWS & VIEWS

Global private equity and venture capital news and research

India Value Fund, E-Land Group sign Spykar Lifestlyes deal agreement

29 Nov 2012

Private equity firm India Value Fund and South Korean retailer E-Land Group have signed a non-binding agreement for a controlling stake in Indian denim brand Spykar Lifestyles, it is understood.

Everstone Capital and another Korean bidder remain interested in the business according to the Times of India, but have not signed any agreements leading to more detailed discussions.

The Riverside Company was believed to be in talks to buy the stake and the Aditya Birla Group was also thought to be interested.

Avigo Capital revived plans to sell its 60 per cent stake in the business earlier this year.

Global investment bank Lincoln International has been hired to find potential buyers for the stake, which was initially expected to fetch almost $100m.

It is now believed the deal could come in at less than $65m.

The company has grown to become India’s biggest home-grown denim brand since being set up by electrical engineer Prasad Pabrekar in 1992.

Spykar had sales of more than $60m last year through 1,350 outlets, including 250 dedicated stores.

Copyright © 2012 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2015