After Kuckreja, Nirula's to go
In talks with Navis Capital Partner for sale.June 04, 2012 | comments ( 2 ) |
The fast food chain, Nirula’s Corner House Pvt Ltd, is in talks with the Malaysian PE firm Navis Capital Partner to sell off the business. This is the third attempt by Navis to take over the hotelier, this time for the bid price of Rs 90 crore. While reports suggest the price could go up to Rs 150 crore.
The Mumbai-based hotelier, is likely to continue with the Nirula’s brand but rework its format.
Navis is likely to take complete control over Nirula’s after buying co-owner Samir Kuckreja’s minority stake, which he sold to Navis for an undisclosed amount.
It was previously reported by www.indianretailer.com, that Samir Kuckreja has quit as the CEO and managing director of Nirula’s. http://www.indianretailer.com/news/Samir-Kuckreja-quits-Nirula-s-4967/
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