WL Ross and Co. Llc, global distressed assets and special situations investor are currently in talks with China’s Shandong Ruyi group to sell its entire stake in textile maker OCM India Pvt. Ltd. The talks are at the term-sheet stage. If they prove to be conclusive, the deal is likely to be finalised in the coming weeks. The size of the transaction was not immediately known. Founded in 1924, OCM India Pvt. Ltd (formerly known as OCM India Ltd) started as a textile manufacturer and forayed into worsted fabric in 1972. The company, which has a manufacturing facility in Amritsar in Punjab, is known for its tweed and jacket suiting materials.