Lilliput deal puts spotlight on Mitt Romney
Bain Capital is at the centre of the attack against Romney in the campaign. In India, the company is looking to exit kidswear company Lilliput within two years of investing in it. With the markets staying weak, Bain Capital, which had invested $86 million along with TPG, is looking to put the brand and the assets and liabilities into a separate company and sell it to another investor. The dispute with Lilliput founder Sanjeev Narula, who holds a majority stake, is also playing a role as the partners are unable to agree on several issues. While Narula could not be reached on his phone, Bain India spokesperson refused to share any details.
Although Bain has built an asset pool of $60 billion globally, it's been slow going for its Indian arm. Over the last two years, it's made two other investments -Hero Investment and coal-tar maker Himadri - apart from Lilliput. With few investments in its kitty, Bain Capital India has stayed low-profile, unlike its parent that is in the under attack involving presidential hopeful Romney.