Birlas stare at Rs 70-bn loss on sale of grocery store brand More

ABRL was set up by the promoters of Aditya Birla group in 2007

The promoters of Aditya Birla Retail (ABRL), an unlisted firm operating the More brand of grocery stores, are likely to lose close to $1 billion with the proposed sale of ABRL to Samara Capital, a private equity (PE) firm. 

This is because the suitor is offering to take over only the external debt of ABRL worth Rs 40 billion, said a banker close to the development.

The Birlas, in their personal capacity, have invested close to Rs 110 billion in debt and equity of ABRL over the past decade and thus, would lose around Rs 70 billion with the transaction,