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Mumbai-based Temptation Foods (TFL), a frozen food marketer, is understood to be inking a deal with HLL to acquire its marine product business division for around Rs 100-120 crore. The deal would also include transfer of the people managing the marine business in HLL to TFL. HLL’s marine division exports products like crabsticks, shrimps and fish fillets among others. The company had earlier short-listed four bidders for the sale. […] Citigroup is in talks with IBM Corp. among others about selling a strategic stake in its Indian business process outsourcing (BPO) arm, Citigroup Global Services Ltd, the Mint paper said on Wednesday. Quoting industry sources, the paper said the BPO unit could be valued at over $1 billion, based on estimated annual revenues of $300 million-$400 million. […] Global soft drink giant Coca-Cola has made a pre-merger filing with the US anti-trust regulators regarding a possible acquisition of energy drink maker Glaceau, in which India's Tata Group holds a 30 per cent sake, media reports said here. Coca-Cola … […] American petroleum major Chevron may soon increase its stake in the Mukesh Ambani-promoted Reliance Petroleum Ltd (RPL) that is setting up a 29 million tonne grassroots refinery in a special economic zone in Jamnagar, Gujarat. Chevron already holds 5% in … […] Taro Pharmaceutical Industries Limited , controlled by the Levitt and Moros families, will be sold in its entirety to Sun Pharmaceutical Industries Ltd of India for $454 million. Taro's current market cap is about $180 million.
Sun will pay some $230 … […] Malaysia`s Petronas and Swiss Co. Petroplus are eyeing stake in Cairn India`s parent, Cairn Energy, reports Business Standard. Petronas, holding 10% of Cairn India through a pre-IPO placement, wants to buy out Cairn Energy`s 69% stake in Cairn India. The takeover talks pushed Cairn`s share price up 2.3%. At the current price of Rs 144.30 a share, Cairn Energy`s 69% stake will be around Rs 177 billion. […] Bennett, Coleman & Co (BCCL), the publishers of the Times of India and the Economic Times, has picked up a 9.22% equity stake in Flawless Diamond India (FDILL), an over 30-year-old integrated diamond and jewellery manufacturer, who is now all … […] Spanish power group Union Fenosa may pick up 10% equity in Petronet LNG Ltd (PLL). The deal may come through the foreign currency convertible bond (FCCB) route. PLL was planning to float a $100-million FCCB issue. Petronet sources said a … […] CNBC-TV18 has learnt that LT Overseas is closing in on an overseas acquisition for a likely sum of USD 20-30 million. Sources said the acquisition will be for branding purposes and the deal is likely to be in the range of USD 20-30 million. Funding is likely to be via internal accruals and borrowings. LT Overseas may raise USD 20 million via FCCB/ GDR or preferential issue, said sources. The management has declined to comment on the deal. […] India's United Spirits Ltd. said on Wednesday it had bought 100 percent of Scottish spirits maker Whyte & Mackay for 595 million pounds ($1.18 billion), sending the company's shares up as much as 6.4 percent. United Spirits, part of the UB Group of companies, has 60 percent of the Indian market and plans to introduce Whyte & Mackay's brands into India immediately. “Until today, the only missing link in our portfolio has been Scotch and due to the shortage and rapidly increasing prices of Scotch Whisky, we needed a reliable supply source,” the company's chairman, Vijay Mallya, said in a statement. Shares in United Spirits were up 6.3 percent at 890 rupees at 0904 GMT, slightly below their peak of 891 rupees in a firm Mumbai market. […] |