AION Capital leads race for Interglobe arm, in fray to buy 30% in LVB

AION has entered exclusive discussions with InterGlobe, which could lead to a buyout of the latter's software arm for around $225-250 million, or Rs 18 bn

AION Capital, a joint venture between global buyout firm Apollo Global and ICICI Venture, seems to be getting aggressive. The special situations fund has emerged as the frontrunner to buy InterGlobe Technologies, the IT and back-office arm of travel conglomerate InterGlobe Enterprises, The Times of India reports. AION has also joined the race to buy 30 per cent stake in Lakshmi Vilas Bank, another paper reported. 

AION has entered exclusive discussions with InterGlobe Technologies, which could lead to a buyout of the latter for around $225-250 million, or Rs 18 billion, according to a report. It is also bidding with other