U.K. media group Pearson PLC (PSON.LN) and a few private equity firms have approached India's Manipal Global about purchasing a stake in the Indian education services company, the Times of India website reported Tuesday, citing at least two people directly involved with the matter.
Pearson has held preliminary discussions with Manipal Global but is only interested if a "large stake" is up for sale, the report cited one of the persons as saying.
Separately, private equity firms Apax Partners and Baring Asia are also eyeing the Manipal Global stake, but discussions are at an early stage, the report said.
Manipal Global is seeking to raise debt and equity to buy back stakes held by existing shareholders IDFC and Capital International, based on a company valuation that's in excess of $850 million, the report added.
Newspaper website: http://www.timesofindia.com
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