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Staples Inc, the largest U.S. office supply chain, plans to buy out its Indian partner Future Group’s stake in its wholesale operations for up to $35 million, a source with direct knowledge of the development said. Staples will acquire 39 percent of its Indian wholesale joint venture from Future Group, which controls India’s largest listed retailer, at 1.5-2 billion rupees, taking its stake to 89 percent, the source said. “The deal will be announced in mid July… the details of […] Air Works India Engineering Pvt Ltd has completed stake acquisition in Dubai-based Empire Aviation Group (EAG), EAG’s financial advisor for the deal Alpen Capital (ME) Ltd has said. The strategic acquisition will help Air Works increase its footprint in the Middle East and provide aircraft management services to its Indian customers. Air Works did not disclose the stake. Air Works said the deal was funded through a mix of internal accruals and structured debt finance of Rs120 crore from KKR […] Sony Pictures Television (SPT), an indirect wholly owned subsidiary of Sony Pictures Entertainment Inc, will buy around 32 per cent of the shares of Multi Screen Media Private Limited (MSM) that are owned by Grandway Global Holdings Limited and Atlas Equifin Private Limited. SPT will pay $271 million (about Rs 1,512 crore) in cash to Grandway and Atlas subject to government approvals. While $145 million is likely to be paid by December when the transaction is expected to close, the […] Tatia has completed the deal by acquiring 25% stake in M/s. Stallion Brands India Private Limited In a release sent to BSE, company said, “Company emphasizing its vision of inorganic growth model and business consolidation has taken a yet another milestone step to enhance its exiting growth model portfolio has completed the deal by acquiring 25% stake in M/s. Stallion Brands India Private Limited. Stallion Brands India Private Limited is in exclusive agreement and license holder with Levis Strauss India […] Schrader Bridgeport International Inc of the US has exited Schrader Duncan. Schrader Bridgeport was the majority partner in the listed Indian tyre tube valves and pneumatic products joint venture. JP Goenka group, the junior partner, through one of its outfits Oriental Carbon & Chemicals Ltd (OCCL), has bought out the entire 50 per cent stake of Schrader Bridgeport. As on March 31, 2012, JP Goenka group outfits a total of 24.5 per cent — OCCL held 12.58 per cent and […] Reliance Capital today said it has got approval from the Indian market regulator Sebi and the Monetary Authority of Singapore (MAS) for Rs 1,450-crore stake sale in its mutual fund business unit to Japan’s Nippon Life. Anil Ambani-led Reliance Group’s financial services arm Reliance Capital (RCAP is selling 26% stake in Reliance Capital Asset Management Co (RCAM), which runs India’s most profitable mutual fund, to the Japanese firm. In a statement issued today, Reliance Cap said that it has received […] Global private equity majors and large buyout funds are understood to be in advanced discussions with the promoters of Kurlon Ltd, to acquire a minority stake in the company. Kurlon Ltd is a Rs 750 crore group company of the Manipal Group has around 20 per cent market share in the Rs 4,000 crore branded mattresses business in India. According to investment bankers close to the company, Apax Private Equity which focuses on large transactions including taking management control is […] Jindal Steel and Power will acquire a little over 10 per cent stake in Gujarat NRE Coal’s Australian subsidiary, Gujarat NRE Coking Coal Ltd, for AUD 25 million (about Rs 135 crore). Besides, JSPL will also buy 5 million tonnes of coking coal over a 10-year period from the Australian subsidiary of the Kolkata-based firm, Gujarat NRE said in a filing to the BSE. “Gujarat NRE Coking Coal Ltd is pleased to announce that it has entered into an Option […] According to reports, private equity firms Blackstone and Carlyle have pulled out of their proposed deal with Reliance Communications. If finalized, they would have owned a majority stake in the telecom service provider’s telecom tower unit. Mr Anil Ambani’s Reliance Communications has long been looking for prospective buyers. Blackstone and Carlyle were reportedly on the final stages of buying a 95% stake in Reliance Infratel tower unit. The company is severely cash-strapped, and saddled with a debt equaling almost $7 […] The big boys of India Inc are foraying into the media business . After RIL chief Ambani invested in Network 18 group , the billionaire chairman of the Aditya Birla Group, Kumar Mangalam Birla, is buying a 27.5% stake in Living Media Group, the publisher of India Today weekly magazine. In a statement, which did not give details on the size of the deal, the AV Birla Group, which has interests ranging from metals to telecoms, said Living Media […] |