Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com-- Private equity funds including Advent International, Bain Capital, TPG (NASDAQ:TPG), EQT (ASX:EQT), Carlyle (NASDAQ:CG), and KKR (NYSE:KKR) are among those approached to invest in Whirlpool’s (NYSE:WHR) listed Indian unit, the Economic Times reported on Tuesday.
Whirlpool Corp. intends to sell a 31% stake in Whirlpool of India Ltd (NSE:WHIR), which contributes 85% of the company’s Asia revenue, while retaining a 20% interest, the ET reported, citing people aware of the matter.
The company aims to raise between $550-600 million through this transaction, launched earlier this month with Goldman Sachs as an advisor, the report stated.
The deal may involve multiple funds jointly acquiring the stake, with Whirlpool Corp. expressing interest in remaining the largest shareholder. The process has attracted significant interest, with several funds, including those also vying for a stake in Haier India, exploring the opportunity, the ET report said.
Whirlpool of India stock rose 4.3% to 1,251 rupees on Tuesday as of 09:48 IST.