Indian PE Arm Eyeing Hershey's Stake In Candy Venture

Law360, New York (February 22, 2012, 6:22 PM EST) -- The private equity arm of India's quasi-governmental infrastructure developer on Wednesday was reportedly in talks to buy out The Hershey Co.'s 51 percent stake in an Indian confectioner joint venture.

The Economic Times of India reported that IL&FS Investment Managers Ltd., whose parent company is India's state-owned infrastructure and financial services developer, would buy back the 40 percent stake it sold to Hershey in 2007 when the U.S. chocolate giant sought to expand into India.

The deal would also include the 11 percent stake Hershey bought...
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