News: Buyout plan: Staff wants to buy Stemcor India

C-Suite

Buyout plan: Staff wants to buy Stemcor India

Unfazed by the British parent rejecting their previous management buyout plan, Stemcor India employees, backed by minority partner industrialist Sanjay Saraf, are all set to bid for the $800 million assets on the block. Sources said Stemcor India employees are not disheartened, and would now participate in the auction likely to take place in mid-September.

Unfazed by the British parent rejecting their previous management buyout plan, Stemcor India employees, backed by minority partner industrialist Sanjay Saraf, are all set to bid for the $800 million assets on the block. Sources said Stemcor India employees are not disheartened, and would now participate in the auction likely to take place in mid-September.

Following a decision taken by the UK-based trading firm Stemcor in April, Stemcor India’s senior management had asked the parent firm to consider selling the assets to a group led by a thousand-odd employees.

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Topics: C-Suite, #National

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