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Advent may buy into Aditya Birla Capital; I Squared, NIIF eye IL&FS road assets
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US-based private equity firm Advent International is in advanced talks to invest up to Rs 1,300 crore ($180 million) in financial services company Aditya Birla Capital Ltd for 6-7% stake, a media report said.

Citing people with knowledge of the matter, The Economic Times reported that Aditya Birla Capital's board is likely to discuss Advent's proposal on Thursday. 

The transaction will likely involve a primary infusion of capital and secondary sale of shares, the report said. 

The deal, once completed, would make Advent the single-largest non-promoter shareholder in Aditya Birla Capital, the report said.

Currently, PremjiInvest is the largest non-promoter shareholder in the company. The family investment arm of Wipro's Azim Premji had bought a stake in the company for Rs 703.7 crore in July 2017. PremjiInvest now owns a 3.77% stake in the company.

Meanwhile, 14 entities including global infrastructure investment firm I Squared Capital, the National Investment and Infrastructure Fund (NIIF) and Edelweiss Financial Services Ltd are interested to buy road assets worth Rs 20,000 crore from Infrastructure Leasing & Financial Services Ltd (IL&FS), The Economic Times reported, citing people with knowledge of the matter.

IL&FS is selling 10 road assets in Jharkhand, Tamil Nadu, Maharashtra, Rajasthan, West Bengal, Meghalaya and Uttar Pradesh. These assets have a debt of Rs 17,700 crore, which accounts for nearly a fifth of total IL&FS group debt.

The new IL&FS board is hopeful of selling the road assets after having sold seven renewable energy assets to existing partner Orix of Japan.

In another development, Oyo Hotels and Homes is in advanced talks to acquire student accommodation assets of Lovely Professional University in a $200-million deal, The Times of India reported, citing three sources familiar with the development.

Oyo’s bid for the asset has caught many players by surprise, the report said. It comes after its recent foray into Las Vegas by buying Hooters Casino Hotel. 

The university's promoters, the Mittal family, are selling the asset to generate liquidity and fund expansion, the report said.

HDFC and Goldman Sachs-backed Good Host Spaces, besides alternatives assets major Blackstone were some of the other bidders.

The university's campus has a capacity to house about 25,000-30,000 students, the report said.

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