General Atlantic in talks to buy PAG’s stake in Nuvama Wealth – report

General Atlantic is exploring a purchase of PAG's holding in Nuvama Wealth Management and has already held several rounds of discussions with the Hong Kong-based investor, reported Moneycontrol citing sources.

"It is not clear if both are in agreement on valuations," a banker aware of the conversations told the publication.

"The deal is stuck at this stage and given Nuvama's recent stock price rally, valuations could be a pain point for the transaction to conclude".

The proposed transaction is valued at about $1.82bn (Rs171.38bn), the report said citing sources.

If completed, it would mark an exit route for PAG, which has been invested in the company for roughly five years.

Morgan Stanley and JPMorgan are acting as advisers on the deal, according to the report.

PAG owns slightly more than 54% of Nuvama.

Nearly 63% of that shareholding is under encumbrance, although detailed terms of the pledge are not publicly available.

The current discussions represent PAG's second effort to monetise its investment in Nuvama, one of India's five largest wealth management firms.

Bankers had earlier approached potential buyers, including private banks, for PAG's stake, sources said. Howeve

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/general-atlantic-talks-buy-pag-114727857.html)