Sealing its second acquisition in a week, Tata group company, Telcon, on Friday said that it has signed a deal for acquiring a 60 per cent stake in Spanish company, Comoplesa Lebrero SA. An agreement was signed with existing shareholders of Comoplesa, a construction equipment company, to acquire 60 per cent stake in the company, Telcon said in a press release issued here. The balance 40 per cent will be retained by the existing shareholders who will continue to be associated with the venture, the release said. […]

Cyber Media has acquired 100 per cent stake in United Business Media LLC for an undisclosed sum. United Business Media will become a subsidiary of Cyber Media. UBM LLC will continue to provide services to support and enhance the products and services being delivered by CyberMedia. Formerly a 50:50 JV, UBM-CyberMedia LLC has been publishing a monthly magazine Global Services, a website www.globalservicesmedia.com and produces events for the global outsourcing and off-shoring community. All products and services are published under the brand name of global services and endeavor to facilitate the global outsourcing industry by providing information and relevant platforms for buyers and sellers of professional services. The magazine has a print order of 30,000 amongst buyers of professional services in North America and Western Europe, the website attracts 21,000 unique and relevant professionals every month; and the joint venture has conducted close to 10 successful events bringing together this community. […]

Dewan Housing Finance Corporation Ltd, (DHFL) has held plans to raise around Rs 240 crore through qualified institutional placements (QIP) and preference shares. Instead, the company may take the private equity route. Keeping in mind the current market volatility, it may evaluate raising a smaller amount, of around Rs 150-200 crore. “We have deferred our plans of QIP given the overall market situation at present,” Kapil Wadhawan, vice-chairman and managing director, DHFL, told DNA Money. “The company is currently in the process of evaluating other options, which could be a private equity route. The PE route offers stability and by nature a PE investor remains with a company over a 5-7 year time frame” he added. […]

UAE’s telecom giant Emirates Telecommunications Corp (Etisalat) is in talks with Telekom Malaysia (TM) backed Spice Communications and other new licence holders for a possible foray into the Indian mobile space. Etisalat is the largest telecom operator in the UAE and provides telecommunications services in 14 countries in Africa, Asia and Africa including Pakistan, Egypt and Saudi Arabia. […]

N. Sankar-led Sanmar Group, an integrated industrial, shipping and engineering group, has acquired Houston-headquartered Matrix Metals LLC for an undisclosed sum. Matrix Metals operates one of the largest speciality steel casting businesses in North America. It is a portfolio company of Jefferies Capitol Partners, a private equity investment firm with more than $680 million in funds under management. The deal is expected to result in the creation of a leading specialty steel casting group in the global arena. Matrix Metals has foundries in Keokuk (Iowa), Richmond (Texas) and San Juan del Rio in Mexico. The three plants together have a combined capacity of 30,000 tonnes a year. Matrix designs and pours castings of all sizes up to 8,500 pounds. It is focussed on meeting the casting needs in the flow control, locomotive, mining, farm equipment, heavy construction and oilfield equipment sectors. It employs around 1,300 people across these three locations. According to a release from the Sanmar group, Matrix Metals closed the last financial year with sales of $157 million, up 10 per cent over 2006. […]