An investment arm of C Sivasankaran, the non-resident Indian businessman better known as Siva in Corporate India, has emerged as a significant shareholder in Aamby Valley — the company floated by the Sahara Group to develop Aamby Valley City — a famous upmarket township project in Maharashtra. According to documents available with ET, Siva Ventures (SVL) owns a 49% equity stake in Aamby Valley. SVL is a wholly-owned subsidiary and the principal investment arm of the Sterling Infotech Group promoted by Mr Sivasankaran. In a recently-prepared information memorandum, Siva Ventures said it “has a significant presence in infrastructure and township building business by way of 49% ownership in the equity share capital of Aamby Valley, owners of Aamby Valley City”. The information memorandum was prepared last month when Siva Ventures raised Rs 435 crore through private placement of non-convertible debentures. ET has a copy of the memorandum.   more »

Aegis, the business process outsourcing arm of the diversified Essar Group, has bought South Africa's CCN Group – paving the way for 5000 jobs to be created. Aparup Sengupta, Global CEO and Managing Director of Aegis said in a statement on Thursday that CCN was a strategic fit for Aegis. "This combined entity will offer CCN's clients and prospects an expanded set of solutions and services from a broader geographic delivery platform," he said. "South Africa becomes an integral part of our growth strategy and offers an opportunity for Aegis to develop skills, create employment and bring in international experience to South Africa."   more »