September 2017
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Hero Group to buy out Honda Motors' 26% stake in the joint venture

Hero Group is looking to buy out Honda Motors' 26% stake in the joint venture and needs to raise about $2 billion to do so. Hero already owns 26% of the company, with the rest held by other investors. It is still early; Hero is only just putting together a team of bankers to help it find the money, and both companies are quiet about their intentions. But if it strikes a deal, Hero is going to have to answer a number of questions for the rest of Hero Honda's shareholders. For starters, what is Hero going to do about its lack of research and development facilities? Honda's role in the joint venture is to provide technology, and its agreement to do so will come up for review in 2014. Will it continue the pact, without a stake in the company, and if so, at what cost? Even with Honda as a co-owner, Hero's royalty payments on technology have been rising faster than sales, reaching $90 million in the year to March. […]

DCHL may have sold its entire stake in the Hyderabad IPL team

Shares of Deccan Chronicle Holdings jumped on the buzz that it has sold its entire stake in the Hyderabad IPL team, Deccan Chargers, for USD 300 million. The sudden spurt in the stock was witnessed amid media reports that the company has sold 100 per cent stake in Deccan Chargers, the franchise that represents Hyderabad in the Indian Premier League, for USD 300 million. […]

Reliance Capital to sell up to 20pc stake in mutual fund arm

Anil Ambani Group's financial services firm Reliance Capital is considering divesting up to 20 per cent stake in its mutual fund arm, Reliance Asset Management Company, to an overseas strategic partner. Induction of global partner would help Reliance Asset Management Company to expand its reach and help improve product, technology and process, sources told. Reliance Capital holds 93.37 per cent in Reliance Asset Management Company, the largest mutual fund house with asset under management over 1.18 lakh crore. When contacted, Reliance Capital spokesperson said, “As a policy, we do not comment on speculations.” In 2007, Reliance Capital sold 5 per cent stake to global investor Eton Park for Rs 501 crore, at an equity valuation of Rs 10,000 crore. […]

Anil Ambani may bid for MGM to expand Hollywood footprint

Anil Ambani-controlled Reliance Entertainment is likely to put in a bid for the iconic film studio Metro-Goldwyn-Mayer, or MGM, as it seeks to increase its presence in Hollywood beyond its existing tie-up with Steven Spielberg’s DreamWorks Studio, a person privy to the development told ET. MGM, the owner of a library with more than 4,000 titles, including classics such as the Pink Panther and James Bond movies and more recent ones such as Legally Blonde, a series of comedy films, has been put on the block by its lenders, a consortium of over 100 financiers led by JPMorgan. Twelve potential bidders with background in media and movie-making have signed non-disclosure agreements, according to a Reuters report. Banking sources said Reliance Entertainment is among them. […]

Govt may sell 8.9% stake in L&T to BHEL

The government may consider selling its 8.9% L&T stake it holds via Specified Undertaking of Unit Trust of India(SUUTI) to BHEL, reports CNBC-TV18 quoting Newswire18. When contacted, BHEL’s Chairman this morning said that he is not aware of any such move. But sources indicated that this is part of a larger plan by the government to sell its key holdings in Axis Bank, L&T and ITC, which it holds via SUUTI in case money from auction of 3G spectrum does not come in this financial year. […]

Global HR firm may buy IKYA

Ikya Human Capital Solutions, the Bangalore-based HR services firm, is likely to be a target for global HR firms planning to set up shop in India. Some of the names floating around are companies like the Dutch USG Group, Spherion, Volt, Robert Half and Michael Page from the US, and Radia from Japan who are looking to enter India and it is likely that they may look at Ikya to start their operations. However, Ikya management denied that they will sell out. Ikya, which describes itself as a human capital solutions company that offers executive search, recruitment, staffing and learning, and development solutions, has now remodelled itself by offering more value-added services. Ikya in 2008 received a funding of $8 million from India Equity Partners (IEP), a private equity fund focused on India. […]

Time Warner may buy stake in NDTV Imagine

Turner Broadcasting, a company owned by Time Warner, might buy a majority stake in general entertainment channel (GEC) NDTV Imagine. According to reports in the media, the Turner Broadcasting-NDTV Imagine negotiations have reached a conclusion, and Turner, which also owns GEC Real, could buy as high a stake as 90 per cent in NDTV Imagine. […]

Reliance Capital May Sell Stake in Life Insurance Unit

Reliance Capital Ltd. may sell a 20%-26% stake in its life insurance unit – Reliance Life Insurance Co. – in the fourth quarter of the current fiscal year, its chief executive said Wednesday. “It (sale) could be to a strategic or financial partner … most likely it will be foreign company,” Sam Ghosh told Dow Jones Newswires over the phone. […]

KKR in race to buy United Spirits: Report

The US buyout specialist Kohlberg Kravis Roberts (KKR) has joined the race to acquire a minority stake in Vijay Mallya-promoted United Spirits Ltd, says a media report. “…It has emerged that Kohlberg Kravis Roberts (KKR), the US buyout specialist, has entered the race to buy a minority stake in United Spirits, the parent company through which Mallya owns Whyte & Mackay,” UK's The Times has reported. The report published online said that KKR faces competition from the likes of Diageo, the British maker of Guinness stout and Gordon's gin, for the stake in United Spirits. […]

SRK in talks to sell stake in KR?

After a series of forgettable outings despite big hype in the second edition of the Indian Premier League, is Bollywood star Shah Rukh Khan selling his Knight Riders franchise? According to speculation, SRK is in talks with Subroto Roy’s Sahara Group and the Anil Ambani Group for selling around 20% stake in the franchise. However, the biggest hurdle to any deal could be the high valuation of the team, industry sources said. Shah Rukh’s company bought the Kolkata franchise last year for around Rs 300 crore and he would expect the brand to be valued at least around Rs 500 crore. Unfortunately, that expectation appears too high in the current economic climate. […]