Hinduja Group is planning to acquire Houghton International and has placed a bid of $1.15 Bn.
Houghton International makes specialty chemicals, oils and lubricants for the metalworking, automotive, steel and other industries.
Deutsche Bank and Morgan Stanley were hired to advise on the sale process. AEA Investors LP, the investment firm that owns Houghton, could still decide to sell to another party or not at all, reports said.
PE firm CX Partners is planning to invest R150 Cr in Transaction Solutions International (India) Private Limited, a ATM outsourcing and payment company, according to ET. The fund is negotiating to acquire above 70% stake in the company.