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India's RSWM buys 50 pct in Spain's SISA

Textiles firm RSWM Ltd. said on Friday it had acquired 50 percent stake in Spanish yarn-maker SISA S.A. for an undisclosed sum, which would expand its footprint in the higher value international yarn market.

The deal, through RSWM's overseas unit, … […]

Deal values ICICI’s insurance, MF business at $10 bn.

Doha Bank of Qatar has agreed to take 49 per cent equity stake in Select Securities Group, which owns brokerage network under the brandname 'Investnet'. An agreement to this effect was signed by Select Securities Ltd Chairman and CEO Prince George and Doha Bank Deputy CEO R Seetharaman in the presence of Kerala Industries Minister Elamaram Kareem here. Kareem said during his recent tour of the Middle East he met several businessmen who were keen to invest in Kerala. […]

ICICI Holdings to offload 5% stake

Deal values ICICI’s insurance, MF business at $10 bn. ICICI Holdings, which will control the insurance and mutual fund business of ICICI Bank, will go in for private placement of a 5 per cent stake to raise around $500 million. It has appointed JP Morgan as the financial advisor. ICICI Bank was looking at valuing ICICI Holdings at $10 billion, sources said. Vishaka Muley, chief financial officer of the group, refused to comment on the development. […]

StanChart set to buy 49% stake in UTI Securities

Standard Chartered Bank is all set to acquire 49% strategic stake in UTI Securities from Securities Trading Corporation of India (STCI) for nearly Rs 140 crore. The deal, that values the UTI Sec at Rs 280 crore, is set to be inked by the end of the week, market sources said. The deal values the company about Rs 15 crore higher than Rs 265 crore that STCI itself had paid when it bought the UTI Sec from its founder-promoter, Specified Undertaking of the Unit Trust of India (SUUTI) in April 2006. Under the terms of the deal, Standard Chartered Bank will have the option to buy another 25% from STCI after a year. […]

TCG plans $500-m PE fund for realty play

The Chatterjee Group (TCG) is looking to set up a $450-500 million private equity fund for investments in real estate. The group, headed by Purnendu Chatterjee, which has investments worth $2.5 billion in several sectors, including technology, BPO and infrastructure, also has a stake in the $1.2-billion Haldia Petrochemicals. This will be the company’s first dedicated PE fund for its India investments. “The fund has already seen a first closing of $100 million and we should touch $450 million to $500 million by June end,” said a company source. […]