Singapore's GIC Eyes Control of Nirlon

Mumbai: An affiliate of Singapore sovereign wealth fund GIC plans to take control of Mumbai-cased Nirlon Ltd in a deal estimated to be worth up to $197 million (Rs 1,248.8 crore at 1 dollar = 63.3950 rupees), the companies said on Tuesday. Reco Berry Private Ltd has agreed to purchase up to 30.8 million shares, or a 34.2 per cent stake, from some shareholders of Nirlon at Rs 222 apiece, according to a joint statement. Reco Be...