Birla retail in negotiations with Nilgiris

Birla Retail, part of the A V Birla group is in advanced stages of negotiations with Private Equity Fund Actis and the founding Family of the Nilgiri bakery and retail chain of stores. Last year Actis bought majority stake in Nilgiris for a consideration of Rs 300 crore.

Insiders have said that, Actis is competing with Birla Retail for the new 26% stake that is on sale by the Gopalkrishnan family, the founders of Nilgiris. If Birla’s are able to BUY Nilgiris, then they will have a PAN-South India presence in neighborhood stores as very recently they bought Trinethra Retail.