KKR in talks to invest in Emami; Temasek may inject fresh funds into Pine Labs
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Global alternative assets giant KKR & Co. is in advanced negotiations to invest around Rs 2,000 crore via structured finance in Kolkata-based Emami Group, The Economic Times reported.

Citing people aware of the development, the report said Emami planned to use the funds to pare debt, expand its cement business and for working capital needs.

Emami is a diversified conglomerate founded in 1974 by RS Agarwal and RS Goenka. It owns businesses in sectors ranging from consumer goods to healthcare, cement, newsprint, biodiesel and edible oil, real estate, solar power, writing instruments and pharmacy retail.

Last October, Emami Cement Ltd had filed its draft red herring prospectus with the capital markets regulator to float an initial public offering.

In another development, Mint reported that payment solutions provider Pine Labs Pvt. Ltd is in advanced negotiations to raise $75 million in a fresh funding round from existing investors including Singapore state investment firm Temasek and US payments giant PayPal.

Citing two people aware of the development, the report said Pine Labs could be valued at $1.2-1.4 billion.

Pine Labs would use funds for international expansion and inorganic growth, according to the report.

Pine Labs has developed a cloud-based payments platform which allows merchants to accept traditional electronic payment methods such as credit or debit cards issued by any bank, e-wallets, QR code payment solutions or solutions based on the Unified Payments Interface.

In May last year, Temasek and PayPal invested a total of $125 million (Rs 843 crore) in Pine Labs.

Separately, Mint reported that Bengaluru-based online home rental startup NestAway Technologies Pvt. Ltd is in talks with Chinese investors to raise $100 million in a fresh funding round.

Citing two people aware of the development, the report said NestAway is in talks with Chinese conglomerate Fosun, Shunwei Capital and other Chinese investors.

In March 2018,   NestAway had raised $51 million in a Series D round of funding led by Goldman Sachs and UC-RNT Fund, an alternative investment fund jointly floated by Tata Son chairman emeritus Ratan Tata's RNT Associates and the University of California.

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