Deals
Apax, Carlyle to Consider Bids for Indian Insurer Stake
- Foreign private equity firms pursue stake in Royal Sundaram
- Potential sale of 49% holding could fetch about $500 million
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Apax Partners and Carlyle Group LP are among suitors weighing bids for a stake in Indian insurer Royal Sundaram General Insurance Co., people with knowledge of the matter said.
The unit of Mumbai-listed Sundaram Finance Ltd. has started a process to sell a 49 percent stake, according to the people. Royal Sundaram has also drawn interest from other foreign private equity firms, the people said, asking not to be identified because the information is private. Any deal could fetch about $500 million, the people said.