Nuveen, an American investment manager with over $1.1 trillion of assets under management, has invested $30 million in Aviom India Housing Finance, a media report said.
The investment firm picked up about a 33% stake in the mortgage lender through a combination of primary and secondary market deals, The Economic Times reported, citing an industry insider with knowledge of the matter. The primary investment was $20 million, it said.
Existing investors Gojo & Co and Capital 4 Development Asia Fund Cooperatief UA partly offloaded their holdings in Aviom, the report said.
Nestle SA, the world’s biggest food group, is among final bidders competing to acquire India’s Capital Foods to boost its presence in the country, Bloomberg reported, citing people familiar with the matter.
The Swiss company has been discussing terms of a potential deal for Mumbai-based Capital Foods, the report said.
Any transaction would likely value the Indian firm at more than $1 billion, according to the report.
Capital Foods, which makes spicy noodles and fusion chutneys under the Chings Secret brand, counts private equity firm General Atlantic as an investor.
French drugmaker Sanofi has started a process to turn its consumer healthcare business in India into a listed entity through a demerger, The Economic Times reported, citing people familiar with the development.
The unit’s products include anti-allergy brands such as Allegra and Avil, pain management drug Combiflam and Vitamin D brand Depura. The business posted revenue of Rs 1,000-1,250 crore in 2022. About 70% of Sanofi’s India revenue is contributed by its top seven brands, the report said.