India Digest: Buyout funds eye Wockhardt biz; Comcast, others to bid for Zee

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Global buyout funds have shown interest to acquire a substantial stake in Wockhardt Ltd’s domestic formulations business while Comcast-led consortium may bid for Zee Entertainment.

Buyout funds eye Wockhardt’s formulations biz

Buyout funds Apax Partners, Blackstone, Carlyle and KKR have evinced interest to acquire a substantial stake in Wockhardt Ltd’s domestic formulations business, The Economic Times reported.

Torrent Pharma has shown interest in the business.

While the India drugmaker is looking to sell 40 per cent in the formulations business, individual suitors have indicated that they are interested in buying at least a controlling 51 per cent stake, which could value the business at Rs 4,000-4,500 crore.

Wockhardt has given the mandate to boutique investment firm Moelis & Company to find a buyer.

Comcast-led consortium to bid for Zee Entertainment

US cable major Comcast is looking to partner private equity giant Blackstone and James Murdoch’s family office Lupa Systems to bid for Zee Entertainment Enterprises, The Economic Times reported.

The talks are at a very preliminary stage between the parties involved. Comcast will be leading the consortium, and Murdoch is expected to pick up a small stake. Lupa can also buy only 9-10 per cent stake in ZEE.

ZEE promoters want to stay on to run the business but the potential buyers may look at acquiring a controlling stake, the report said.