Sabre Capital Worldwide, backed by Singapore's Temasek Holdings, is in talks with Cholamandalam DBS Finance Ltd to buy the latter's fund firm, the Economic Times said quoting unamed sources on Thursday.
The deal to acquire DBS Cholamandalam Asset Management was likely to be worth around 4 billion rupees, the paper said, adding a few other investors were also in the fray.
Sabre Capital, founded by former Standard Chartered chief executive Rana Talwar, and Fullerton Fund Management, a unit of Temasek, jointly own Lotus India Asset Management which managed 64 billion rupees at September-end.
If the deal goes through, the 38-billion-rupee DBS Cholamandalam Asset Management could be marged with Lotus mutual, the report said quoting sources.
Spokesmen at both fund houses could not be reached for comment immediately. (Reuters)