April 2008
« Mar   May »

Contact us

Reliance Big acquires digital images biz of DTS Inc

Anil Ambani-owned Reliance Big Entertainment Ltd (RBEL) on Wednesday said it acquired 100 per cent stake in the digital images business of the US-based DTS Inc, marking its first overseas acquisition in the digital-services space. DTS Digital Images (DDI), popularly known as Lowry Digital Images, is engaged in independent restoration operation in Hollywood, providing picture quality improvement services to movies, television and video content. It is considered to be a market leader in the field of digital restoration and enhancement of moving pictures, using proprietary tools and algorithms it has developed over the years. DDI works with Walt Disney, Paramount Pictures, MGM and 20th Century Fox and entertainment leaders like George Lucas and James Cameron. It has restored more than 300 of the world’s most recognised feature films with output to DVD, HiDef, 35mm film, Digital Cinema, and IMAX. Its body of work includes Casablanca, Singing in the Rain, Sunset Boulevard, Indiana Jones trilogy, Star Wars trilogy, James Bond films and numerous Disney classics such as Cinderella, Bambi, 101 Dalmatians and Lady and the Tramp. […]

JKH picks up 44% stake in Quatrro F&A

John Keells Holdings (JKH), the largest public conglomerate in Sri Lanka, has picked up 44% stake in Quatrro F&A. Quatrro, along with John Keells, has acquired US-based RSM McGladrey’s financial process outsourcing (FPO) unit. Quatrro F&A is the new entity formed after the merger of Quatrro’s finance & accounting unit with the newly-acquired FPO. As part of the deal, John Keells will shell out $5.72 million upfront and will bring in additional funds over a period of time for the FPO acquisition. “We have carved out a new legal entity from the merger of our own finance and accounting practice and RSM’s FPO unit. John Keells has picked up 44% stake in this new entity,” said Quatrro CMD Raman Roy. The acquisition of the FPO unit would be financed through a mix of debt and equity. […]

Modern India in talks with PE firms for stake dilution

Real estate and textile firm Modern India Ltd said it is in talks with private equity players to dilute the founders' holding and also sell stake in its special economic zone unit, its top official said. “We are in talks with 2-3 players, and we will finalise in the next one to one and a half months”, Chairman and Managing Director V K Jatia told Reuters on Friday. The firm's monthly rental will more than double to 20 million rupees after June, from between 7.5 million and 8 million rupees a year ago, due to an increase in rental income, Jatia added.(Reuters) […]

RIL could divest 10% in K-G D6 to foreign major

In a bid to unlock value at one of the world’s largest gas finds in the Krishna-Godavari basin, Reliance Industries Ltd (RIL) is believed to be planning to divest up to 10% stake in its K-G D6 block to a strategic foreign partner. A 10% stake in the block, valued at Rs 59,800 crore according to Deutsche Bank, will fetch RIL a neat sum, which could be further pumped into exploration and production (E&P). RIL holds 90% in the K-G D6 block and Nikko Resources, the rest. Agencies reported on Thursday that RIL has initiated talks with a host of big global energy E&P players as potential partners. Hydrocarbon giants with the required expertise include the likes of ExxonMobil, Shell, BP, Total and Petrobras. However, the move could not be independently confirmed, as Reliance officials remained tight-lipped about it. An RIL spokesperson declined to comment. […]

Atlas Copco acquires 25% stake in 2 drilling tech firms

Atlas Copco India Ltd (ACI), the Indian subsidiary of Swiss industrial productivity equipment manufacturer Atlas Copco AB, has acquired a 25% holding in two Hyderabad-based drilling technology companies—Focus Rocbit Pvt. Ltd and Prisma Roctools Pvt Ltd—for an undisclosed amount. While Focus Rocbit is a manufacturer of bits for rotary drilling, Prisma Roctools makes bits and hammers for down-the-hole drilling, said Mike Mustapha, managing director of Atlas Capco India. Atlas Capco has the option to acquire the balance 75% holding in these two companies, which currently have a combined turnover of $10 million (Rs40 crore), within a year. Atlas Capco has acquired four companies in the Indian market in the last five years. It did not disclose the financial terms for those deals as well. […]