The troubled retail chain, Vishal Retail on 13 Sept 2010 announced that its board agreed to sell its business to two acquirers- San Francisco based private equity player TPG Capital and Chennai based Shriram Group. TPG Capital would buy the wholesale arm of the building while Shriram Group would acquire the retail operations. Vishal Retail has 170 stores across the country under brands like Vishal Megamart, Vishal Retail and Vishal Fashion Mart. The deals together are worth Rs 100 crore. The sale would enable the company to settle its outstanding debt and also look invest in new business opportunities.
TPG Capital & Shriram Group to Acquire Vishal Retail
By Jagranjosh
Mar 15, 2011, 12:00 IST
The troubled retail chain, Vishal Retail on 13 Sept 2010 announced that its board agreed to sell its business to two acquirers- San Francisco based private equity player TPG
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