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Warburg Pincus to buy India's Future Capital for $100-125 mln -sources
MUMBAI, June 3 |
MUMBAI, June 3 (Reuters) - U.S. private equity firm Warburg Pincus LLC is set to buy a majority holding in Indian financial services firm Future Capital Holdings for $100-$125 million, two sources with direct knowledge of the matter told Reuters on Sunday.
Future Capital, currently controlled by Indian retailer Pantaloon Retail (India) Ltd, provides consumer and mortgage loans.
Warburg Pincus will pay 165-170 rupees per share, which translates to a premium of 18-24 percent to Future Capital's Friday's close of 136.95 rupees, said the sources, who declined to be named as they were not authorised to speak to the media prior to a public announcement.
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