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Gujarat NRE Coke Ltd has announced that the Company has signed an Agreement with Illawarra Coal Holdings Pty Ltd (Illawarra Coal), a subsidiary of BHP Billiton Ltd., for the acquisition of the Elouera Colliery in NSW, Australia through its Australian subsidiary Gujarat NRE FCGL Pty Ltd. The mine has large available reserves of premium grade Hard Coking Coal (as referenced in BHP Billiton's 2006 Annual Report). This would be the third coking coal mine to be acquired by the Company after NRE No. 1 Colliery and NRE Avondale Colliery. With this acquisition the Company's short term production of coal is expected to be boosted from 1 million MTPA to around 2 million MTPA. […]
Kavveri Telecom has purchased DCI Digital Communications, a provider of Radio Frequency Interference (RFI) products. The deal was closed at CAD 2 million.
The Company will be headed by Uma Reddy as President in Canada. “Acquisition of DCI will give … […]
It was the sher khan of retail broking but now ShareKhan is all set to change hands. NDTV has learnt that Citi's venture capital arm CVC may pick up majority stake in Sharekhan and the deal might be announced in the next 48 hours. Even though management has declined to comment, it did admit that Citi is a top contender and an announcement on the buyer will be made by Thursday. […]
HDFC has bought out its US partner Chubb from its non-life insurance joint venture. The shareholders have approached IRDA with their decision to part ways. After the buyout, HDFC Chubb General Insurance will be a wholly-owned subsidiary of HDFC. The corporation is likely to bring in another foreign partner in the future. HDFC has already been approached by insurance groups from the US, Europe and Japan for its proposed non-life venture. […]
Infotech Enterprises, a geospatial, design engineering and software services and solutions company, has picked up 74 per cent stake in Hyderabad-based Geospatial Integrated Solution Private (Geospace Integra) for Rs 2.96 crore. Under the terms of the agreement, both the companies will merge their geospatial business in India and West Asia into a single entity. The new entity, which will operate as a subsidiary of Infotech, will be led by Chandrasekhar Nori, chief promoter and managing director of Geospace Integra. […]
Air Deccan, India's largest budget airline, plans to raise $100 mn by selling up to 26 per cent to a professional investor, Managing Director G.R. Gopinath said Tuesday. The company has appointed investment bank Edelweiss Capital to evaluate at least three potential private investors, Gopinath told AFP in Bangalore, ruling out a strategic sale to billionaire brewer Vijay Mallya's Kingfisher Airlines. “We are taking time to find out who we should go to bed with,” the 55-year-old entrepreneur said, adding a final decision that could involve a sale to more than one player will be made in two weeks to a month. […]
Euronext-listed Yatra Capital Ltd said it has bought a 49 pct stake in a real estate joint venture development company in India for 21.6 mln eur. This is Yatra Capital's first investment out of the 100 mln eur in funds that it raised when it listed on Euronext Amsterdam in December last year. The company said the joint venture with India's Kolte Patil Developers Ltd will initially focus on Pune city, near India's financial capital Mumbai. The company will initially develop three separate residential projects in Pune. […]
Asia Alternatives, the largest independent, Asian private equity fund-of-funds, today announced the final close of Asia Alternatives Capital Partners, LP (the “Fund”), with US $515 million of committed capital. The Fund closed meaningfully above its original target of $350 million … […]
India Infoline which signed an agreement last year with DSP Merill Lynch to sell its shareholding in subsidiary Moneyline Credit Pvt Ltd (formerly Khambhat Investment & Trading Company Private Limited), has called off the deal citing prolonged delays in completing the transaction. According to a regulatory filings with Bombay Stock Exchange, India Infoline said “owing to prolonged delays in finalisation of the transaction and changed business plans, the MoU was mutually terminated with immediate effect”. […]
ICICI Ventures, the country’s largest venture capital firm, is likely to sell its entire 63.3% stake in the publishing company, Infomedia, which is valued around Rs 235 crore at the current market price.
Highly placed sources said ICICI Ventures was … […]
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