NEW DELHI, April 19 -- A mix of strategic and financial investors have submitted expressions of interest to buy out loss-making Kwality Dairy NSE 0.72 %, which is facing insolvency proceedings, two officials aware of the developments said.
The bidders include TPG Capital, Aion affiliate Arcion Revitalisation, IndiaRF - a joint venture between Piramal Enterprises and Bain Capital Credit - Haldiram Snacks and JK Group's LVP Foods according to the reports published in economictimes.indiatimes.com.
Private equity firm KKR, which invested Rs 520 crore in 2016 to finance Kwality Dairy's plans to enter the consumer segment, started bankruptcy proceedings against the struggling dairy maker in October last year. KKR filed a plea in the National Co...