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Marico set to buy Unibic India

Bangalore-based Unibic India Private Ltd is being bought over by FMCG giant Marico Ltd headquartered in Mumbai, reported a TV news channel on Friday. The channel said Marico will pay Rs 130 crore for 51 per cent stake in the privately held company and the deal will be announced by the end of this month. When contacted, senior officials in Marico and in Unibic did not confirm the news. But a source close to the deal told Deccan Herald that Unibic India is certainly talking to Marico and they are expected to sign the takeover agreement soon. Marico (2009-10 revenue Rs 2,661 crore and net profit Rs 232 crore) is a 17 year old consumer products company with welknown brands like Parachute, Saffola, Nihar, Mediker, Revive etc. Unibic India is a leading cookies company with an estimated sales of around Rs 60 crore in 2010. […]

QInvest buys stake in Indian education company Fiitjee

Qatar’s largest investment bank QInvest has bought a stake in Indian student coaching organistion, Fiitjee, the company said on Monday. The value of the deal, which marks QInvest’s third deal in India, was not disclosed. Fiitjee offers tutoring to students preparing for engineering entrance exams in India’s technology colleges. The tie-up will pave the way for Fiitjee’s expansion into the Middle East market, said Anuj Khanna, head of investment management at QInvest. “Every year in excess of 450,000 students aspire for approximately 9,000 slots at one of the IITs (Indian Institutes of Technology) and the number of aspirants continues to increase.” QInvest, whose shareholders include Qatar Islamic Bank, has looked outside its borders in recent months in a bid to diversity its investment portfolio. […]