The Kolkata-based conglomerate is joining tycoons including Anil Ambani & Subhash Chandra in selling assets to pare debt as a cash crunch in markets increase funding costs. TPG Capital is also weighing a bid and could look for a local partner. Blackstone Group Inc. and a rival consortium led by KKR & Co. are considering bids for the cement unit of Indian cosmetics to paper conglomerate Emami Group, according to people with knowledge of the matter. TPG Capital is also weighing a bid for Emami Cement Ltd. and could look for a local partner, said one of the people, who asked not to be identified as the discussions are private. KKR is in talks to team up with Nirma Ltd., a maker of detergents, the people said.
