THE WHAT? Carlyle is rumored to have purchased a controlling stake in VLCC for an estimated US$300 million, according to a report published by Reuters quoting anonymous sources. Carlyle declined to comment on the rumors when approached by Reuters.
THE DETAILS Funds managed by entities connected to Carlyle Asia Partners will provide the equity for the deal, per Reuters.
THE WHY? India’s beauty and personal care market is bouncing back, if fellow FMCG manufacturer Godrej’s results are anything to go by. With China widely reported to be on the brink of recession, it would be fair to assume that Carlyle is diversifying.
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