Swiss drugs industry supplier Lonza is in talks to buy over 51 percent stake in India's Aptuit Laurus in a deal valued at $77 million to $99 million, the Business Standard reported on Wednesday. (Reuters) […]
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Swiss drugs industry supplier Lonza is in talks to buy over 51 percent stake in India's Aptuit Laurus in a deal valued at $77 million to $99 million, the Business Standard reported on Wednesday. (Reuters) […] State Bank of India on Saturday said it is awaiting Reserve Bank of India’s clearance to acquire up to 30 per cent stake in Tata Motors Finance. “We have written to the RBI. We are awaiting a response,” SBI Chairman O P Bhatt told reporters on the sidelines of an event here.SBI is eyeing around 30 per cent stake in the vehicle financing arm of Tata Motors. Acquiring a stake beyond this level would require approval from the government. […] The Sahara group won the bid for IPL franchise Pune on Sunday. Giving reasons for their choice of city, Abhijit Sarkar, corporate communications head at Sahara, told TOI: ‘‘ It’s close to Aamby Valley. We have our business reasons for choosing Pune.” The second bid was for $333.33 million (Rs 1,533 crore) from a consortium of investors under Rendezvous Sports who opted for Kochi as their base camp. […] In a landmark deal, Nimbus Communications Limited joined hands with the Times of India Group on Sunday, wherein The Times Group will acquire a small ownership stake in Nimbus and its associate Company Neo Sports Broadcast Pvt. Ltd. The deal brings two leading media houses of the country together in a long-term relationship where Nimbus and its associate company Neo Sports will leverage the various media vehicles across the Times Group to advertise its sports and broadcasting businesses. […] Welspun Gujarat has okayed the acquisition of MSK Projects, reports CNBC-TV18. It plans to acquire 75% stake in the latter. The deal size is Rs 400 crore, and this is to be funded entirely through internal accruals. Welspun Infratech, a 100% subsidiary of Welspun Gujarat Stahl Rohren and part of the USD 3 billion Welspun group, has signed an agreement to acquire a majority stake in construction major MSK Projects India. […] Hindustan Construction Co Friday said it will acquire 66-per cent stake in Karl Steiner AG, the second largest integrated services contractor in the Swiss realty market, for nearly $33 million. The acquisition will not only give Hindustan Construction access to the European market but also help its entry into the $16.5 billion integrated building construction industry in India, the company said. 'This acquisition has been carried out on the grounds of strategic fit both to capture local market opportunity and to provide us with a presence of European expansion,' the company's chairman and managing director Ajit Gulabchand said at a press conference here. […] Private equity group India Agri Business Fund will invest $10 million (about Rs 48 crore) to pick up around 22 per cent stake in Gautam Thapar-promoted Avantha Group's food division Global Green Company. The fund will invest another $40 million this year in food and agri sector, said Rajesh Srivastava, chairman & Managing director, Rabo Equity Advisors, the sponsor of the $100 million fund. The investment in Global Green Company will be used to expand the company's domestic business, which is primarily into exports market currently, he said. […] The government is considering up to 10 per cent equity dilution in the state-owned aluminium producer Nalco, which may fetch the exchequer about Rs 2,200 crore. “The Ministry of Mines will have to take a decision. We have said that they could consider 5-10 per cent stake sale,” Disinvestment Department Joint Secretary Sidhartha Pradhan told PTI. At present, the government holds about 87.15 per cent equity in the navratna company while the rest has been made public. […] As part of its strategy to exit from bad businesses, TV18 is selling its entire 50 per cent stake in Jobstreet.com India. The joint venture made no progress and TV18 has taken a hit of Rs 25 million in the entire exercise, a source in the company says. The shares have been sold back to the partner, Jobstreet.com Singapore. Floated in late 2006, the joint venture company was to tap into the rapidly growing job portal space in India and provide consolidated value to Web18, the internet and mobile arm of TV18. The market cap of Info Edge, the holding company of naukri.com, is Rs 25.09 billion. Though Info Edge has other smaller properties like www.jeevansathi.com, www.99acres.com, www.quadranglesearch.com and www.shiksha.com, it definitely provides an indicative valuation of a successful job portal in India. […] Bangalore-based diversified business conglomerate Siesta Group is slated to raise $20 million through the private equity (PE) route to acquire three logistics trading firms in three Asian countries. Post acquisition, Ravi Naware, ex-divisional chief executive of ITC’s food business, will head the company’s logistics division. Speaking with FE, Siesta’s chairman and managing director Ashok Chattaraj said, “The company will acquire firms in Singapore, Hong Kong and Shenzhen in China.” It has done all the groundwork for the acquisition and deals will be officially closed in the beginning of the new financial year beginning April, Chattaraj added. […] |