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UK-based Cookson Group Plc on Friday made an open offer to shareholders of Foseco India for acquiring a 20 per cent stake in the company for Rs 53.64 crore. Cookson Group Plc would acquire up to 1,277,292 equity shares, representing around 20 per cent stake in Foseco India, at Rs 420 per share. The offer would open on December 5 and would close on December 24, Cookson said in a filing to the Bombay Stock Exchange. […] CNBC-TV18 learns that UK-based Capita likely to buy Prudential's Indian BPO. The deal size is about USD 80-100 million. Prudential's Indian BPO staff strength is 1,800. This news is entirely source-based and we do not have an official conformation from either of the two parties. Prudential said that they do not comment on market rumors or speculation and Capita did not offer any comments at all. Sources added that the deal value could be anywhere between USD 80-100 million and Prudential’s Indian BPO employees are about 1,800 people. Prudential has about 20 million customers worldwide and manages assets of about 250 billion pounds globally. So, that is the kind of business that the center does in India. Capita did have a JV with Mastek. It does currently have and owns about 90% of the JV. They have 42 centers globally and two centers again in India. (Money Control) […] Partner may be international player with presence in developed markets. UTI Mutual Fund, owned equally by Life Insurance Corporation and three public sector banks, is likely to rope in a strategic partner by offering 15 per cent equity in the Asset Management Company, ahead of its Rs 2,000 crore ($ 500 million) initial public offering (IPO). The strategic partner is likely to be an international player, having a presence in developed markets, said sources. According to the plans, the country’s oldest fund house, which nearly collapsed at the height of the Ketan Parekh-scam of early 2000 due to bad investments in several penny stocks, plans to issue fresh shares to the strategic partner. The strategic partner would be offered a slot on the UTI AMC board with a view to bringing in technology expertise and international knowhow, among other things. […] |