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Zydus Cadila has acquired 100% stake in Mumbai-based Biochem Pharmaceutical Industries, one of the top 40 pharma companies in India, reports Express Pharma. The acquisition strengthens Zydus’ operations in the Indian pharma market. Speaking on the latest acquisition, Mayank Shah, Joint Managing Director, Biochem Pharmaceutical Industries said, “Now, Zydus will be able to take Biochem to greater heights given their strength. Biochem has a good fit with Zydus as the products complement each other and add value to their product […]
Private equity investors and promoters of Coastal Projects are in talks with German construction major Hochtief AG to sell a majority stake, in a deal that will value the Hyderabad-based infrastructure company at over $500 million (Rs2,649 crore), The Times of India (TOI) today reported, citing three separate sources familiar with the process. Baring Asia, Sequoia Capital, Fidelity Investment Management and Deutsche Bank had acquired a combined 32 per cent stake in Coastal Projects for about $410 million. The promoters […]
The Mukesh Ambani-led Reliance Industries (RIL), which has built a presence in the US in non-conventional energy by acquiring shale gas assets, is planning to enter the conventional hydrocarbon space. According to a Bloomberg report, RIL is in talks to buy the exploration and production (E&P) of US pipeline company El Paso Corp. Private equity firm Apollo Global Management is among other companies in talks for the unit, which is estimated to be worth $8.1 billion by analysts at BNP […]
Private equity investors, ICICI Venture and Sequoia Capital along with Oman Insurance have infused Rs 50 crore into Chennai-based Star Health Insurance. Speaking to reporters after introducing Single Protection policy for the entire family Star Health’s Chairman and Managing Director V Jagannathan said that the company was planning to raise around Rs 170 crore, during this financial year, of which Rs 50 crore was raised from the existing investors till December 2011.
A senior official from the company added, […]
Raymond has announced that the company`s auto components ubsidiary, Ring Plus Aqua (RPAL) has agreed to acquire a majority equity stake in Trinity India (TIL), Pune, Maharashtra. The company is engaged in the manufacturing and marketing of Forged Auto Components with presence in the domestic, and international markets. Accordingly, RPAL has entered into a definitive share purchase agreement with TIL and its promoters for this purpose. Source: My Iris
Reliance Industries and Network 18 group on Tuesday joined hands for a multi-layered deal, under which the Mukesh Ambani-led corporate giant would sell a part of its interest in Eenadu TV channels and would also fund promoters of the media group.
RIL did not specify the exact financial details of various transactions. Network 18 group company TV18 in a separate statement said its board has approved an outlay of up to Rs 2,100 crore (Rs 21 billion) for the […]
Power trading firm PTC India is in talks with a sovereign wealth fund for setting up a private equity fund, which is likely to have an initial capital of about $ 100 million. Sources said PTC India is looking to float a private equity fund and is in advanced talks with a sovereign wealth fund. To begin with, the PE fund would at least have $ 100 million as capital, they said.
However, they did not disclose further details. The […]
The country’s third largest IT and non-IT distributor, Redington (India) has acquired shares of its subsidiary Redington International Holdings (RIHL) from the private equity investor Investcorp. The purchase is made through another subsidiary Redington International Mauritius (RIML). The consideration of the 25.97 per cent stakes is $113 million.
The company has entered into a share purchase agreement with Investcorp and the sale would be completed in three months, Redington has informed BSE. With the buyout, RIML’s shareholding in the Cayman-Island-based […]
As part of its strategic diversification, Chennai-based non-banking finance company (NBFC) Kreon Financial Services Limited is planning to acquire around 51 per cent stake in modular kitchen company Aran Kitchen World India Private Limited. In a filing to the BSE on Friday, Kreon Financial said that it had signed a share purchase agreement with the promoters of Aran Kitchen World. Aran Kitchen World is a joint venture between Italian modular kitchen firm Aran World and Chennai-based Bohra Kitchens of the […]
SAR Group, makers of Wynncom brand of mobile phones, has acquired a 55% stake in UK-based Fly Mobiles’ business in India and Saarc regions. Both Fly and Wynncom, with combined sales of about Rs300 crore annually, and selling nearly 2,00,000 units a month, will continue to be separate brands. SAR plans to become a Rs 1,200-crore brand by mid-decade.
SAR Group promoter Rakesh Malhotra confirmed the development and said that deal size along with additional investments over the next three […]
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