October 2008
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iMedia to invest $10 mn in Compact Disc

Integrated media and entertainment company Compact Disc India (CDI) on Tuesday said content developer iMedia Ventures will invest $10 million in the company and is interested to pick up 15 per cent stake in it. In a filing to the Bombay Stock Exchange, CDI said iMedia Ventures has offered to invest $10 million (about Rs 47 crore) in the company's expansion projects. (Indiantelevision) […]

Reliance Money to pick up 10% stake in NMCE

Reliance Money is moving fast on getting into the commodity exchange business. The Anil Ambani-owned Reliance Money said that it has received official approval to pick up 10 per cent stake at the National Multi Commodity Exchange (NMCE). Reliance Money had proposed to buy a strategic 26 per cent stake in NMCE, the third largest national commodity exchange based in Ahmedabad. NMCE had inducted Reliance Money chief executive officer Sudip Bandhopadhyay as a director in the exchange board. The apex commodities market regulator Forward Markets Commission (FMC) had forwarded the Reliance Money proposal to buy 26 per cent stake in NMCE to the Consumer Affairs Ministry that oversees commodity futures trading in India. […]

Azim Premji to invest $17 million in Carnation Auto

Azim Premji, backer of IT major Wipro, is believed to be investing $17 million (Rs 80 crore) to acquire a minority stake in Carnation Auto, a company floated by Jagdish Khattar, former managing director of Maruti Suzuki India, reports Business Standard. In addition to Premji, who will be investing through his investment arm, Premji Invest, IFCI ventures is reported as another investor in Carnation Auto, investing $5.9 million for a minority stake. […]

Tata Steel buys 19.9 pct stake in Canada miner

Tata Steel Ltd said on Wednesday its Singapore-based unit has agreed to buy 19.9 percent in Canadian miner New Millenium Capital Corp for $22.6 million. Tata Steel said it has an option to acquire 80 percent in a joint venture that will develop New Millenium's Direct Shipping Ore (DSO) project, and also hold rights to the entire iron ore output from the project, which is expected to have annual production of 4 million tonnes from 2010. The DSO project is estimated to hold reserves in excess of 100 million tonnes of direct shipping quality ore, Tata Steel said in a statement to the stock exchange. […]

TPG Capital eyeing Kingfisher Airlines stake: Report

The private equity firm Texas Pacific Group's TPG Capital was reported to be interested as a potential investors willing to put in over $400 million for a sizeable stake in Vijay Mallya-led Kingfisher Airlines, the Economic Times reported The business paper reported that TPG has been in talks with Kingfisher for a few months, though there was no certainty of a deal coming through. It reported that Kingfisher Airlines was seeking a valuation of over $1 billion. However, Kingfisher Airlines chief Vijay Mallya said that he was not in talks with TPG. The newspaper quoted other sources from within the UB Group as saying that talks were indeed in progress, and that the airline was also in discussions with another two potential investors. Around a month ago, Mallya had said he was looking to raise $400 million for Kingfisher Airlines. […]

Tata buys one-third stake in Piaggio Aero

Tata Ltd. has acquired a one-third stake in Piaggio Aero Industries SpA, the Italian aircraft company said on Wednesday. Financial details were not released. The move makes Tata one of the main shareholders alongside the Ferrari and Di Mase families and Abu Dhabi's Mubadala Development Co. The Tata investment consists of purchasing existing shares and a new capital subscription, Piaggio Aero said in a statement. […]