Reuters: Private Equity: Carlyle, Sequoia in talks with India's JSM for stake-sources

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Carlyle, Sequoia in talks with India's JSM for stake-sources Apr 11th 2012, 07:19 MUMBAI/BANGALORE, April 11 | Wed Apr 11, 2012 3:19am EDT MUMBAI/BANGALORE, April 11 (Reuters) - Private-equity funds including Carlyle Group and Sequoia Capital are in separate talks to invest about $40 million to $50 million in JSM Corp, which operates the Indian franchises for brands like Hard Rock Cafe and California Pizza Kitchen, two sources with knowledge of the matter said. Premji Invest, the venture capital arm of Indian software services exporter Wipro, and New Silk Route, an Asia-focused private-equity firm, are also in talks to buy a "significant minority holding" in the company, said the sources, who declined to be named as the discussions are not yet public. JSM Corp is looking to raise capital to expand its networks and operations, the two sources said. The company did not immediately respond to an email seeking comment. Sequoia and New Silk Route declined to comment, while Premji Invest and Carlyle did not respond to emails seeking comment.

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