Indian state-run power generator NTPC said on Monday it was buying a 44.6 percent stake in Transformers and Electricals Kerala Ltd from the Kerala state government. The country's largest power producer said the stake was valued at 313.4 million rupees ($6.4 million), although the final price was subject to valuation of assets as at end March 2009. Transformers and Electricals Kerala makes and repairs heavy duty transformers. (Forbes)   more »

LIC will divest its stake in UTI Asset Management Company (UTI AMC) along with other shareholders in the company. “UTI AMC has decided to rope in a strategic partner. The deal is yet to be frozen, and has not come to a critical stage. But all the four partners will take the same decision. We will be acting in unison. We will offload stake in equal proportion,” said Vijayan.   more »