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Sun Pharma buys out Templeton stake in Taro

Taro Pharmaceutical Industries Ltd. shareholder Templeton Asset Management Ltd. has sold its stake in the company for a handsome profit, after fighting on both sides in the years-long legal battle for control of Taro. Templeton sold its shares to Taro controlling shareholder Sun Pharmaceutical Industries Ltd. of India. Sun Pharmaceuticals paid $82 million for Templeton's Taro shake, at $16 per share, a 14% premium on the market price. Sun increased its Taro holding to 65.2% from 53.2%. Templeton invested in Taro in 2005, and increased its stake in 2006, when Taro's share was traded at $12. Templeton bought more shares during 2007 at between $6.50 and $7.20 per share. […]

Axel Springer, India Today Group acquire 70% stake in CarWale.com

Axel Springer, the $3.6 billion multimedia German company, has made an aggressive move in India. Along with the India Today Group, it has acquired 70.4 per cent stake in CarWale.com, an online automotive website, for an undisclosed amount. Axel Springer will hold 52.1 per cent while India Today will have a 18.3 per cent stake in CarWale.com. Private equity firms Sierra Ventures and Seedfund are exiting CarWale.com. CarWale was launched in 2005 as a used car listing portal and launched the 'Used Car Price Guide' in 2006. […]