September 2009
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Times Group may acquire 10% stake in K Sera Sera Prod

The Times of India Group is likely to acquire a 10 per cent stake in film production and distribution company K Sera Sera Productions. The Times Group, which is a part of Bennett Coleman & Co. Ltd, has shown interest and in-principle agreed to subscribe the warrants of the company. K Sera Sera board of directors will be meeting on 7 September to consider the issue of convertible warrants to The Times Group up to 10 per cent of the capital of the company. […]

Salon chain Naturals eyes Rs 100 cr PE

Salon chain Naturals’ is looking for a Rs 100-crore PE infusion to go national. The amount will be raised in two tranches of Rs 50 crore each, for a 25-30% stake in the company. It is gleaned from sources that Aditya Birla Group’s private equity arm Aditya Birla Private Equity Fund, Peepul Capital and TVS Capital are in the fray. Confirming that all the three funds had approached the company, the 40-outlet chain Naturals promoter CK Kumaravel said it has appointed Veda Corporate Advisors to finalise the transaction. “The private equity partner would be decided upon by the month-end and the deal inked by December,” he told ET. […]

Time Technoplast to pick 70% stake in Kompozit-Praha for $5.20 million

Mumbai-based Time Technoplast has notified that it has entered into an agreement to acquire majority stake in Kompozit-Praha, Czech Republic, for $5.20 million. The company signed a memorandum of understanding (MoU) with Kompozit-Praha, a composite cylinder manufacturing company, to acquire 70 per cent stake in latter. […]

L&T eyeing DBS Chola's India fund operation-sources

The financial services unit of Larsen & Toubro Ltd is in talks to buy Cholamandalam DBS Finance's domestic mutual fund operation, two sources familiar with the matter said. “We are working on their behalf,” one source said, referring to L&T Finance, a wholly owned unit of L&T. “We can't share details at the moment. Let's wait for the transaction.” Officials at Cholamandalam DBS, a joint venture between India's Murugappa Group and Singapore's DBS Bank that run DBS Cholamandalam Asset Management, could not be immediately reached for comment. Another source said Edelweiss Capital was the advisor for the asset manager. […]

ArcelorMittal to acquire stake in Indian Re-Roller: Uttam Galva may issue new shares as price jumped

ArcelorMittal on Friday said that it plans to launch a tender offer today for the acquisition of 29.4% shares in Uttam Galva Steels Limited , an Indian producer of cold rolled steel, galvanized products and colour coated coils & sheets. For the year ended 31 Match 2009 Uttam Galva had a turnover of USD890m and net profit after tax of USD21m. The tender offer is priced at INR120 per share, which reportedly represents a 27% premium over the two weeks volume weighted average and of 85% over the six month volume weighted average. The spurt in the shares may make the offer unattractive to individual shareholders, Uttam Galva Director Ankit Miglani said. The Miglani family will sell more shares to ArcelorMittal should the offer be unsuccessful, he said in a phone interview today. […]