June 2010
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Prism acquires remaining 50% stake in MBF

Rajan Raheja group firm Prism Cement today said it has acquired the remaining 50 per cent stake in Milano Bathroom Fittings (MBF) for an undisclosed sum. “Post acquisition, MBF becomes a wholly-owned subsidiary of Prism Cement and will continue to be managed through H and R Johnson (India) division,” it said in a release. H&R Johnson (India), the tiles division of Prism Cement, had acquired a 50 per cent stake in MBF in 2006. MBF has a manufacturing plant at Baddi in Himachal Pradesh. The Baddi plant manufactures bathroom fittings and has a capacity of 3 lakh pieces per annum. […]

Raadan chalks out aggressive growth strategy, to infuse VC, PE funds

Radaan Mediaworks headed by actor, R Radhikaa, is working on a slew of new business initiatives to aggressively grow the company in theIndian and overseas markets. It is in the process of appointing an international consultant to finalise the plans in the next couple of months. A top company official said, ” We will retain focus on expanding the core business of producing high quality TV serials and strengthening the exclusive tie up with Sun TV Network. In addition, we want to build a platform or hub around Radaan for hosting events and venturing into new areas in tie up with other players in the industry”. ” We want to achieve a topline of Rs 100 crore in three years against Rs 30 crore last year. Radaan has an early mover advantage in the industry and is quite popular in other parts of India and abroad”, he said. Radaan is also seriously looking at inviting substantial fund infusion by venture capital and private equity firms. […]

RCom-GTL deal leaves key questions unanswered

Reliance Communications Ltd’s subsidiary Reliance Infratel LTd, and GTL Infrastructure had in-principle approved a Rs 50,000-crore deal to create the world’s largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator. The deal may be done but the dust is yet to settle. The clarity on the structure of the merged entity Reliance Infratel's tower assets into GTL infra is still awaited. However, sources indicate that GTL promoter stake in GTL Infra may go down to 26 per cent. As part of transaction, sources say treasury stock of 8 per cent to be also created, which can be reissued later. Sources further say that GTL Infra may get in a private equity investor post completion of the deal. Also, Anil Ambani is likely to hold approximately 26 per cent in GTL Infra, and part of Reliance Infratel debt may be transferred to GTL Infra. […]