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STAR India, a unit of News Corp. (NWS), is expected to buy a majority stake in Asianet Entertainment's general entertainment channels, The Economic Times reported, without citing a source. Asianet has two general entertainment channels in the Malayalam language, one in Kannada and one proposed in Telugu, the report said. The deal will be closed once STAR ends its partnership with Balaji Telefilms Ltd. , a local content provider, the report added. Separately, the Mint newspaper reported that Balaji is talking to investors to buy back the 25.99% stake held by STAR in the company. […]
Anil Ambani-led Reliance Communications is looking for a possible takeover of Premier League club Newcastle United for an estimated 260 million pounds, a media report said. “Newcastle United owner Mike Ashley is in talks with Anil Ambani, the sixth richest man in the world and head of Reliance Communications, India's biggest telecom company,” the News of the World reported on Sunday. Newcastle is in the midst of a massive 260-million-pound takeover battle between Asia's two richest companies Reliance Communications and Singapore-based global investment company Profitable Group, it said. […]
Chandigarh-based Alchemist Group is scouting for private equity investments to fund its Rs 800 crore expansion plan of opening 1,200 odd outlets of its quick service restaurant chain Republic of Chicken by 2010. “The total investment in the chain by 2010 will be Rs 800 crore and we could be looking at private equity funding. We are sure the return on investment of each outlet will not be more than 18-22 months,” Republic of Chicken Chief Operating Officer Tapan Sinha said. He said the company would be set up around 1,200 'Diner and Deli' counters by 2010 and is seeking the PE route for financing the plan. Sinha did not cite a time-frame for seeking the percentage stake the company would be divesting. […]
Parsvnath Developers Ltd, the New Delhi-based realtor, is in advanced talks to sell stake in its special economic zones (SEZ) projects to fund its developmental plans, its top official said. The realtor is in talks with at least five private equity funds, including Saffron India Real Estate Fund, which has taken a 15% stake in Parsvnath's subsidiary for the Rs 620 crore project near the Bandra Kurla complex in Mumbai. “Everything related to the stake dilution for the SEZ project is done, and we expect to make a formal announcement within a month,” Parsvnath chairman Pradeep Jain told DNA Money. However, Parsvnath neither provided the financial details of the stake sale nor did it give the names of the equity funds. […]
Unitech Limited, the country’s second largest realty firm, plans to raise nearly US$1 billion (Rs 4,200 crore) in the current financial year from private equity (PE) players for expanding its hotel, commercial and retail business, across the country. The company intends to raise funds by floating special purpose vehicles (SPVs) in different projects. Under the proposed plan, the company will invest $300 million on hotel projects while $700 million on commercial and retail projects. The projects will be implemented in cities such as the National Capital Region and Mumbai among others. […]
The Dhoot family, the promoters of Videocon Group, has bought 14% equity in IOL Netcom, a Mumbai-based broadband company, from the open market. The transaction is being perceived by the industry as a take over bid. In the last two months, Shree Dhoot Trading & Agencies Ltd, an investment company of the Dhoots, has mopped up 11.72% shares in the loss-making firm, earlier known as IOL Broadband. This is in addition to the 1.97% stake that Videocon Realty & Infrastructure Ltd, a Videocon group company, owns in IOL Netcom. Sources close to the development said the Dhoots have hired an advisor for further negotiations to gain management control of the zero-debt company that was the first in Asia to launch IPTV. […]
Times Internet Limited (TIL), part of India’s largest media house (Times Group), has recently made a strategic investment equivalent to 50% stake in Webnotions Books India Private Ltd. Webnotions has entered India as the largest online book marketplace under the brand www.a1books.co.in. Webnotions USA was founded in 1995 by Mr. Shinu Gupta. It is based in Netcong, N.J.and has 70 employees. The India branch based in Noida, U.P commenced operations in December 2007. As part of this investment, the Times Group will create value for A1Books by providing brand support to expand its growing market. A1Books shall make available over a million book titles on TIL’s indiatimes.com and will in turn capitalize on the latter’s huge user base in India. A1Books' online book buyers will benefit from the synergies created by this move, as both companies share a joint vision of making quality books easily accessible. […]
Country's second largest real estate firm Unitech Ltd has appointed swiss investment banker UBS to look for a global partner to dilute the company's 26 per cent stake in its telecom business. Unitech Wireless, which has received pan-India telecom licences, today said it would launch operations in the first quarter of next year. “We have appointed UBS for searching partners and divestment while management consultant McKinsey has been hired for overall telecom business plan,” Unitech MD Sanjay Chandra told reporters. He said the the company expects to finalise the foreign partner in next two months. “We are talking on the final number with couple of potential players,” Chandra said. […]
The board of directors of Moser Baer has decided to invest an amount of Rs 1.02 million to acquire 51% of the equity shares in Lumen Engineering. The company is engaged in the manufacture of recordable compact discs (CD-R), rewritable compact discs (CD-RW), pre-recorded CD/DVD, digital versatile discs (DVD-R) rewritable digital versatile discs (DVD-RW) and LightScribe enabled media in its optical storage solutions. (My Iris) […]
Maintenance products distributor W.W. Grainger Inc. said Wednesday it has paid $5.4 million for a stake in an Indian industrial and electrical wholesale distributor. Along with the $5.4 million purchase price for 49.9 percent of Asia Pacific Brands India Ltd., Grainger put in a $1.1 million matching investment to help expand the business. Asia Pacific had revenue of $47 million in its last fiscal year ended March 31. It has 27 locations across India.(CNN Money) […]
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