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Koutons Retail in talks to sell 15% stake: Report

Few private equity funds, such as TPG Capital and Banyan Tree Finance, and a Mumbai-based apparel firm are in talks with the founders of Koutons Retail for a deal.

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Koutons Retail in talks to sell 15% stake: Report
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Koutons Retail India is considering selling up to 15% stake to raise cash to pay out debt and revive its operations, the Economic Times reported on Thursday.

Few private equity funds, such as TPG Capital and Banyan Tree Finance, and a Mumbai-based apparel firm are in talks with the founders of Koutons Retail for a deal, the newspaper said citing an unidentified person familiar with the development.

"We are experiencing difficulty in servicing the debt due to declining sales," the report quoted Koutons Retail chairman DPS Kohli as saying.

The company was also in talks with lenders to recast its debt in line with the current business environment, Kohli told the newspaper.

TPG Capital partner and managing director Puneet Bhatia denied the development, while Banyan Tree finance managing director Sanjiv Singhal did not reply to an email query on the issue, the report said.

Officials of Koutons Retail India, TPG Capital and Banyan Tree Finance could not be immediately reached for a comment.

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