January 2010
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Temasek in Talks to Buy GMR Energy Stake

Singapore state investment firm Temasek Holdings is in talks to buy a stake worth $170 million in GMR Infrastructure Ltd.'s energy unit, a person familiar with the situation said Wednesday. “Temasek is one of around five companies that have shown interest in GMR Energy,” the person, who declined to be named, said. “They've been talking since last year.” GMR Infrastructure, the listed unit of GMR Group, has said in October it is planning to sell a 10% to 15% stake in the energy unit and may offer shares through a private placement and an initial public offering. GMR group Chief Financial Officer A Subba Rao declined to comment on a potential deal with Temasek, saying it is not the company's policy to reveal any details on a deal until it reaches a definitive stage. […]

January 20th, 2010

Indian founded SMS GupShup raises $12 Million

SMS GupShup, a social SMS service that allows users communicate and connect with family, friends and fans using mobile handsets, has raised $12 million in Series D venture financing round. This latest funding round is led by by Globespan Capital Partners with existing investors Charles River Ventures and Helion Venture Partners participating in the round. With this new financing round, the total funding of SMS GupShup comes to $37 million. According to the company, the new funding will be used to expand into other markets such as the Philippines and Indonesia, for product development and to hire new staff in engineering, advertising and marketing. Webaroo Technology is the parent company of SMS GupShup, and is founded by Rakesh Mathur and Beerud Sheth. […]

January 20th, 2010

Mcleod Russel Acquires Rwenzori Tea Investments

Mcleod Russel, a wholly owned subsidiary of Borelli Tea Holdings, has acquired the equity stake in Uganda-based Rwenzori Tea Investments. With this acquisition, Borelli has gained control over James Finlay Uganda (JFUL), which owns six tea estates in Uganda and is engaged in growing, manufacturing and marketing of black tea, and is a subsidiary of Rwenzori. As a result of this acquisition, Rwenzori and JFUL have become step down subsidiaries of the company. In December last year, Borelli Tea had signed a Share Purchase Agreement with James Finlay and James Finlay International for the acquisition of 100% of the share capital of Rwenzori Tea Investments, Uganda (Rwenzori) for a provisional consideration of $25m. The acquisition is expected to give Mcleod a presence in Uganda, which could lead to possible expansion in future. […]

January 20th, 2010