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Financial Technologies India (FTIL) has acquired Apian Finance & Investment, a RBI Registered `NBFC` at a cost of Rs 15 million. FTIL has a technology development center in Mumbai providing transaction automation technologies for equities, derivatives, forex and commodity markets. FTIL also offers market infrastructure based shared services involving sophisticated exchange operations and technology infrastructure as a neutral service provider.(My Iris) […] Sintex Industries, a market leader in the plastic and textiles segment, today announced that through its wholly owned subsidiary Sintex Holdings B.V., Netherlands, the company acquired 90% stake in company holding assets of Geiger Technik GmbH (Garmisch-Partenkirchen, Germany) for Euro 35 million. Geiger family will continue to hold 10%. This acquisition will assist the company to further enhance its presence in the European Market. Commenting on the acquisition Amit Patel managing director, Sintex Industries, said, “This acquisition offers Sintex a strategic market entrance in Germany which is the capital of the European automotive market. GEIGER makes state of the art unique innovative products which are well positioned in a market where fuel consumption reduction becomes the USP of OEMs. “ “We do welcome the comprehensive commitment of Sintex very much. With their investment, GEIGER will continue to thrive as an innovation leader in the automotive components market and identify additional fields of business. The growing Indian economy and the emerging global footprint of Sintex can be leveraged for propelling GEIGER on accelerated growth plan,“ added Albert Geiger, the managing owner of Geiger Technik GmbH, Germany. […] Jewellery maker Gitanjali Gems Ltd said its unit, Gitanjali Lifestyle Ltd, has acquired B Vijay Retail Ventures Pvt Ltd. Financial details of the deal were not disclosed. B Vijay, which owns the 'HooP' brand, retails gold, silver and other precious metals and diamond jewellery. (Reuters) […] Moser Baer Entertainment Ltd may raise up to $50 million in equity and debt to fund its expansion plans, the Economic Times reported on Wednesday, quoting industry sources. Moser Baer Entertainment is a unit of optical media maker Moser Baer India Ltd . Moser Baer officials could not be reached for comments. Moser Baer Entertainment is in talks with private equity firms including ChrysCapital and Warburg Pincus, the paper said. Moser Baer acquired entire shareholding of Moser Baer Entertainment from its wholly owned subsidiary Moser Baer SEZ Developer in February. (Reuters) […] US-based billionaire B K Modi is in advanced stages of negotiations with Los Angeles-based Culver Studios, a well-known independent studio in Hollywood, to buy out a majority stake. The deal is expected to be struck at $150 million (about Rs 600 crore). If the deal goes through, it will mark the entry of Indian companies in Hollywood studios. After selling off Spice Communications to Idea Cellular, B K Modi has been looking at foraying into the entertainment space. His first concrete foray in this direction came with a minority stake in broadcasting company Sony Entertainment Television in India. Mody is also foraying into the audio business and plans to make movies. “Modi is in the final stages of talks for buying Culver Studios for $150 million,” said a source close to the development. […] IT and engineering services firm Rolta India Ltd is close to acquiring a Chicago-based firm at an estimated deal size of $40-50 million, a newspaper report said on Tuesday. The acquisition could be in the area of business intelligence software, the Economic Times report said citing sources. An announcement on this was likely to be made in the next few days, it said. “We are exploring a number of opportunities. But there is nothing to announce,” Rolta's Chairman and Managing Director K.K. Singh told the paper. For the quarter to June, Rolta's net profit rose 4.1 percent to 508.3 million rupees, while sales rose 58 percent to 3.2 billion rupees. (Reuters) […] A Choppy market and hardening interest rates may have taken the sheen off bank stocks. But that hasn’t put off deal makers. Federal Bank, a Kerala-based private sector bank, has bought 5% shares of Catholic Syrian Bank (CSB) and is in the process of winning the support of other CSB shareholders to go for a full-fledged takeover. Federal Bank is said to have acquired these shares at Rs 250-300 per share. CSB is a small, unlisted private bank, also based in Kerala. The Federal Bank management has entered into an understanding with Chawlas — the NRI family which is the single largest shareholder group in CSB. Chances are that Federal Bank may buy out the Chawlas at a later stage, said a senior bank official. The bank has already spelt out its plans to Reserve Bank of India and on Saturday afternoon general managers of Federal Bank were briefed on the development by the management in a closed door meeting. […] The largest Indian newpaper publishing house Bennett, Coleman & Company Ltd (BCCL), which owne the Times of India group of newspapers, is planning to acquire UK-based newspaper group Trinity Mirror, newspaper reports quoting market sources said. BCCL is in talks with some large shareholders of Trinity Mirror to pick up their stakes before launching a formal offer, the reports said. Trinity Mirror Plc, one of the UK's largest newspaper groups, publishes papers like the Daily Mirror and Sunday Mirror and has a portfolio of more than 350 media brands, including five national newspapers, over 150 regional newspapers and 200-plus websites. The group employs over 9,000 people in more than 150 centres across the UK, including nine major printing sites, its website said. […] Bennett, Coleman & Co Ltd (BCCL) has picked up a stake in Naaptol Online Shopping Pvt Ltd, owner of the portal naaptol.com , India's new entrant in the comparison based shopping portal. This web portal has brought interactivity and innovation to make purchases more exciting. Speaking about the tie-up with BCCL, Manu Agrawal, CEO Naaptol Online Shopping Pvt Ltd, said, “Our association with the media conglomerate BCCL is a strong step forward in creating the best foothold. With this association, we look forward to carve a space for naaptol.com among the best portals for online shopping.” Listed on the site are a reputed network of sellers and a trusted circle of consumers. With over 20,000 clicks each day, naaptol.com constantly endeavours to cater to the pan India shopping audience. […] Leading e-learning solutions provider Educomp Solutions on Thursday said it would acquire 76 per cent stake in A-Plus Education Solutions for Rs 10.75 crore in the next two years. A-Plus Education is operating under the brand name 'Purple Leap' and focuses on the area of improving employability of college graduates, Educomp said in a filing to the Bombay Stock Exchange. “The company will focus on preparing students currently studying in over 15,000 colleges in the country and will make them workplace ready,” the filing said and added that Educomp would leverage its very large customer base across five million students in India, going up to 10 million by financial year 2009-10. […] |