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Bollywood filmmaker Sajid Nadiadwala on Sunday announced that his company Nadiadwala Grandsons Entertainment (NGE) will acquire 50 per cent stake in a high profile television channel. The name of the channel has been withheld because an official announcement is soon to follow. The investment is based on an enterprise value of Rs 100 crore, Nadiadwala told reporters here. On the acquisition, Nadiadwala, director Nadiadwala Grandson Entertainment, said the move was an important step for his company towards consolidation in the television industry. (ET) […]
After the $2.3 billion Jaguar-Land Rover deal, Ratan Tata is looking to partake in designing automobiles by picking stake in Italian design house Pininfarina, known for designing the likes of Ferraris. Pininfarina on Thursday said Tata has shown interest in picking up a stake in the automotive design house. “To further reinforce the strategic tie between Tata group and Pininfarina group, Ratan Tata, chairman of Tata Sons, has expressed interest in the Tata companies participating in Pininfarina's planned capital increase with the subscription of a portion of the options that will be assigned to the Pininfarina family,” the Italian firm said. When contacted, Tata Motors spokesperson said without divulging the deal size, “The company is going to take a minority stake in Pininfarina”. Pininfarina also said it would set up an R&D and engineering centre in Pune by the end of this year, where homegrown major would have a minority stake. […]
Reliance Globalcom, a fully owned subsidiary of Reliance Communications, has acquired 90% stake in UK-based Wi-Max operator eWave World. Globalcom is betting on eWave's Wi-Max licenses to tap international markets in Europe, Asia, and Latin America. Globalcom has done it again. After a USD 300 million acquisition of Yipes Holdings last year, the company has bought out majority stake in a start-up company this year. Wi-Max operator eWave World is just two-years old and has not yet made any profits until now. But the company holds licenses and spectrum to start Wi-Max services in 20 countries. While Reliance Communications may take a while to launch Wi-Max services in India on account of spectrum scarcity, it is hoping to ride on eWave to tap international markets. […]
Kolkata-based, Century Plyboards India (CPIL) has bought Chennai-based Sharon Plywoods and Karnal-based Century Panels in an all-share transaction on a High Court order. Through this deal, the company will get control of Sharon Veneers Pvt Ltd (SVPL) and Sharon Wood Industries Pvt Ltd (SWIPL), which were merged on April 1. Century Plyboards (India) Limited engages in the manufacture, sale, and export of plywood and veneer in India. The company markets its products under the ‘Centuryply’ brand name. The move is in line with the Century Plyboards’ plans to expand its product line and move into new markets. […]
E.I.D. Parry (India) Ltd, the Murugappa Group company, has decided to sell its stake in the Parryware Roca joint venture to its partner, Roca of Spain. According to a press release from E.I.D. Parry, its board has decided to sell the 47 per cent stake it holds in the 50:50 joint venture to the Roca Group of Spain. E.I.D. Parry will retain the balance 3 per cent. The company is selling its stake for €112 million (Rs 725 crore). The release quoting A. Vellayan, Vice Chairman, Murugappa Group, and Chairman, Parryware Roca (Pvt) Ltd, said it is a mutually beneficial move for the partners. The stake sale helps realise good value that can be invested in its core businesses. For Roca, the deal will ensure its strategy to stay ahead of the competition in the bathroom products market. Roca acquired the 50 per cent stake in Parryware in 2006 for €50 million (Rs 275 crore). Vellayan will continue as the Chairman of Parryware Roca, the release said. […]
The buzz is back in India's oldest financial institution IFCI as the finance ministry has again revived the process of selling stake in IFCI to strategic or financial investors. The IFCI stock surged over 4.5 per cent in Wednesday’s trade on multiple block deals. NDTV has learnt that the finance ministry has asked IFCI's top brass to start the process of stake sale and here are the options before IFCI. IFCI may sell 26 per cent stake to strategic investor and it might alternatively hive off 10-15 per cent stake to a financial investor. The IFCI board is to meet on April 29 to consider stake sale. […]
Leading PE firms and banks such as ICICI Venture, Yes Bank, GM Financial and Standard Chartered are learnt to be in talks with Ranbaxy’s diagnostic chain, SRL Ranbaxy, for a minority stake ahead of the company’s proposed IPO. SRL Ranbaxy has received expressions of interest (EoI) from several financial funds and talks are at a fairly advanced stage. However, the company has not finalised the financial details or the stake it would offload before its public issue. “The equity that the company will divest to financial funds will be finalised after the valuation of SRL Ranbaxy is worked out,” sources said. SRL Ranbaxy plans to raise around Rs 200-Rs 250 crore through its maiden IPO and may dilute 10-20% to PE funds as a pre-IPO arrangement. […]
Hyderabad-based NetXcell, an application service provider for the telecom domain, is in the processing of raising a $3-million (around Rs 12 crore) private equity fund to expand its sales operations in India and the US besides product portfolio, said Executive Chairman Dayakar Puskoor. “Our current investors have given their consent for extended funding and we expect to close the transaction during this year,” he said here on Tuesday. NetXcell had raised $1 million (Rs 4 crore) in its first round of funding from Lee, a venture partner of Ignition Partners, and Ruderman Capital last year. […]
Royal Group of UAE and Netherlands-based GTC Real Estate are in the race to acquire 26% stake in the Delhi-based Raheja group’s engineering SEZ in Gurgaon for Rs 500 crore. It has been learnt that the Raheja group may ink the deal with either of the two groups in the next few weeks. Raheja Developers MD Navin Raheja declined to comment on the development, but said his company was in talks with some investors to sell equity stake in its SEZ. The 257-acre SEZ project is being valued at Rs 4,500 crore with the land component accounting for almost half of it, according to sources. The foreign investor will initially take 26% stake in the SEZ for around Rs 500 crore and may later bring in more funds towards construction cost, sources said. […]
Indian drug maker Dabur Pharma Ltd said on Saturday its founders and other shareholders have agreed to sell 73.27 percent in the company to Fresenius Kabi (Singapore) Pte Ltd, at 76.50 rupees a share. The Singapore firm is a unit of European healthcare firm Fresenius SE . The Indian firm, which makes anti-cancer drugs, had earlier this year denied it was in talks with a German drug maker for a partnership or sale. The deal with Fresenius values it about 10 percent higher from its market capitalisation of $273 million. Last year, the company had sold its non-oncology drugs business to local rival Alembic to focus on cancer treatment drugs.(Reuters) […]
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