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<http://www.dealcurry.com/20101119-Gitanjali-Gems-Plans-To-Raise-100-Mn-From-Stake-Sale.htm> *Gitanjali Gems Ltd* is planning to raise around $100 mn from the stake sales to reduce its debt. *Bain Capital, Advent International* and *Apax Partners* are reportedly in the race to buy stakes in Gitanjali Group's subsidiaries. The stake sale is part of a restructuring exercise within the group and could involve hiving off of one of the company's business units. Transaction Note Gitanjali Gems, the flagship of the group sells jewellery under the *Nakshatra, Gili, D’Damas, Asmi, Gitanjali, Sangini, Gianti - store and Dia *brands in India. Apart from diamond and jewellery, the group has presence in infrastructure and retail sectors. Gitanjali Group expanded rapidly in the last five years, partly through acquisitions in US and India. Gitanjali is also in the process to acquire Italy's* DIT Group's* brands for 20 Mn euro. The DIT Group houses signature brands such as *Stefan Hafner, Porrri, Nouvelle Bague* and *Io Si. * On a consolidated basis, Gitanjali Gems' net profit rose 51.7% to Rs.80.03 Cr on 42.8% increase in net sales to Rs.2509.71 Cr in Q2 September 2010 over Q2 September 2009. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
