Monday, November 29, 1999

Gaurav Burman buys into Amar Chitra Katha

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New Delhi, June 16 -- Elephant Capital, a private equity venture of the Dabur group's Gaurav Burman, has acquired a significant minority stake in a leading children's book company Amar Chitra Katha (ACK) for 3.2 million Euros (about Rs 21 crore). The investment would be made through Elephant Capital's Mauritian subsidiary, Tusk Investments Fund 1. Elephant Capital's co-investment vehicle will also be investing half-a-million pounds (Rs 3.3 crore), and Gaurav Burman, Managing Partner of Elephant Capital, would be making an additional, personal investment of 300,000 Euros (about Rs 2 crore). Sources, who did not wish to be identified, said Elephant Capital's stake in ACK would be around 30 per cent. Officials of Amar Chitra Katha refused to comment on the issue.

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