Notz Stucki, one of the largest asset managers in Europe, has joined the race for ICICI Venture’s 63% stake in Infomedia (formerly Tata Infomedia). Private equity funds such as General Atlantic, Blackstone and Warburg Pincus have also shown interest to buy out ICICI Venture’s stake in the media firm.
The buyer of ICICI Venture’s stake will have to make an open offer, and shell out upwards of Rs 400 crore. On Thursday, Infomedia’s shares closed at Rs 233.90 on BSE, taking the market capitalisation to Rs 461crore.
In India, Notz Stucki is managed by a team led by Anil Singhvi, former managing director of Ambuja Cements. “Notz Stucki is one of the serious contenders for Infomedia,” sources close to the development said.
ICICI Venture acquired Tata’s 50% stake in Infomedia India in 2003 for Rs 123 crore. It later acquired an additional 13% through an open offer.Infomedia publishes the popular business directory Yellow Pages and some well-known niche magazines.
Read more in The Economic Times article.
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