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Grapevine: Societe Generale invests in PVR; Bain Capital may buy Parksons Packaging
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French banking group Societe Generale invested in multiplex-chain operator PVR Ltd on Tuesday while Berry Greek Investment and Grey Birch sold stakes.

It bought 10 lakh shares in PVR at Rs 1,520 apiece representing a 1.8% stake in the company. Berry Greek Investment sold 1.73% stake and Grey Birch 1.75%.

The deals come after the multiplex-chain operator sold 55.55 lakh shares at Rs 1,440 each to raise close to Rs 800 crore through a qualified institutional placement that started on Wednesday last week and closed on Monday this week.

Also, London-based merchant banking and investment firm New World Capital acquired 2.5 lakh shares in insurance-tech company Majesco Ltd at Rs 44.30 apiece on Tuesday.

Kia Capital also acquired 2.5 lakh shares for an equivalent investment of Rs 1.1 crore in the company.

In another development, Bain Capital is in talks to buy Daman-based folding cartons maker Parksons Packaging Ltd for more than Rs 3,000 crore (about $410 million), a Mint report said citing two people aware of the discussions.

Kedaara Capital holds a significant minority stake in the company. It had invested Rs 200 crore in 2015.

“The discussions for a complete sell-off of Parksons is in an advanced stage. Kedaara will also get an exit,” said one of the persons.

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