December 2008
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Tantis buy 49% in You Telecom arm

Wind energy billionnaire Tulsi R Tanti, the chairman and managing director of Suzlon Energy, and his family have diversified their business interest and picked up a 49 per cent stake in broadband service provider You Telecom’s cable TV subsidiary, Digital Outsourcing, for around Rs 100 crore. Citigroup Venture Capital International-owned You Telecom has a 36 per cent stake in Digital Outsourcing, while the remaining stake is held by high networth individuals. When contacted, You Telecom CEO E V S Chakravarthy confirmed the development. Tulsi Tanti could not be contacted for his comments. “The investment done by Tulsi Tanti family is of personal nature and Suzlon is not in any way connected to the deal,” said a senior Suzlon executive. […]

Infrastructure India acquires 49% in Oriental Tollways for Rs 450 cr

Infrastructure India, a London-listed investment fund, is close to acquiring a 49% stake in Oriental Tollways for Rs 450 crore ($90 million), attracted by the New Delhi-based construction firm’s order book of road projects, a person involved in the transaction said. Oriental is part of New Delhi-based privately-owned Bakshi Enterprises. Oriental Structural Engineers (OSE), Bakshi Enterprise’s infrastructure arm, is undertaking several road and highway projects across the country and will transfer its interests in all these projects to the new company. Dabur India vice-chairman Amit Burman is a shareholder in OSE in a personal capacity. The specialist India-focussed fund will invest in Oriental Tollways through a Mauritius-based subsidiary. “The investment (by Infrastructure India) will come into Oriental Tollways in tranches,” said the person, who is directly involved in the transaction. […]