Malaysia-based private equity firm Navis Capital Partners is in talks with a Mumbai-based hotelier to sell Nirula’s Corner House Pvt. Ltd, the fast-food chain it acquired in 2006 as reported by Livemint.
Navis has previously bought restaurants in India, only to sell them shortly afterwards. It sold its holdings in Mumbai-based Mars Restaurants Pvt. Ltd and affiliated airline catering company SkyGourmet Catering Pvt. Ltd to India Hospitality Corp. for $110 million. Navis was looking at two options—selling out fully or selling a stake. The deal, however, fell through. In 2009, media reports indicated Navis had appointed merchant bankers to look for potential buyers for Nirula’s. No buyers were found.