|
Kajaria Ceramics has acquired 51 per cent stake in Vennar Ceramics, a subsidiary of Anjani Portland Cement (APC), by way of subscribing to fresh equity share capital of the company for Rs. 13.65 crore. Kajaria Ceramics chairman Ashok Kajaria said: “This is the first acquisition by Kajaria in South India. Vennar is putting up a brand new plant which would start commercial production in June 2012”. This will help Kajaria to cater to the southern markets from this plant enabling […] Agnivesh Agarwal, son of the Vedanta Group’s founder-chairman, Anil Agarwal, has taken a controlling stake in Chennai-based Primex Healthcare. Primex operates healthcare centres across this city. This will be the first investment by Agarwal Jr in his personal capacity. While declining to comment on the value of the deal, Anand Mahadevan, founder & CEO, Primex Group, said “he (Agnivesh) will come as a strategic investor and join the company as executive director”. Agarwal said India had a fragmented diagnostics services […] Leading social site Facebook is likely to acquire Indian origin based developer Tagtile. Both the parties have welcomed the deal. It is another milestone for the Facebook as last week it has purchased photo-sharing app Instagram. Facebook sources say that it has to acquire the Tagtile’s and its founders are joining us. Company is acquiring substantially all of the company’s assets. On the other side Tagtile has also welcomed the deal and said that it’s a huge opportunity for the […] Oil trader Trafigura has made its first move into refining in Asia, investing up to $130 million for a 24% stake in Nagarjuna Oil Corp Ltd’s (NOCL) planned refinery in southern India and replacing BP as NOCL’s crude supplier. India and other emerging markets are boosting refining capacity to feed rising regional demand, while their counterparts in the United States and Europe restructure or shut plants as fuel sales slow. This is the first direct investment in the refining business […] Hyderabad-based MAA Television Network Ltd and Sony Pictures Television have entered into a strategic alliance to give a growth thrust to MAA TV and its network of Telugu television channels. The tie-up would enable Sony Pictures or any of its affiliates to acquire 30 per cent equity stake in MAA TV on signing a definitive agreement and subject to obtaining necessary approvals from the statutory authorities concerned. The majority shareholders of the two companies have signed a letter of interest […] Somany Ceramics today said it will acquire 26% stake in Gujarat-based Commander Vitrified Pvt Ltd (CVPL) for Rs 3.25 crore. The company has inked a memorandum of understanding with CVPL and its promoters to acquire equity stake of 26% in CVPL for Rs 3.25 crore, with an option to further increase the stake up to 51%, Somany Ceramics said in a filing to the BSE. CVPL is at an advanced stage of setting up a new plant to manufacture about […] Private equity major IL&FS Investment Managers (IL&FS) has offered around $35 million or Rs 175 crore to buy out US chocolate confectionery major The Hershey Company’s 51% stake in its Indian joint venture (JV) with the Godrej Group. The Godrej Group would continue to hold the remaining 49% in the company, which will go back to its original name, Godrej Beverages & Foods. The Godrej Group will go back to managing the business as it did prior to forging […] The Reserve Bank of India or RBI has asked the promoters of Kotak Mahindra Bank to cut their stake in the bank to ten percent from the present 45 percent by 2016, reports said. This regulatory directive is in keeping with the guidelines for entry of new private sector banks. The guidelines require promoters to gradually bring down their stake to ten per cent. As at the end of December 2011, promoter holding in Kotak Mahindra Bank was at 45.40 […] Private equity firm Advent International today said it will pick up an undisclosed stake in Hyderabad-based healthcare chain Care Hospitals for USD 105 million (Rs 534 crore). The PE firm said it will acquire shares from some of the existing investors and inject additional capital into the business. However, the business of the healthcare chain will continue to be run by the founders following the investment, Advent International said in a statement. When contacted, Advent India Director Avinash Mehra said: […] Fortis Healthcare India Ltd, which runs the country’s second largest hospital chain, is planning to strike a deal with private equity (PE) investors. Ahead of that, the promoters will sell part of their stake in the company through the stock auction route. The move will help the Singh brothers, promoters of Fortis, reduce their stake in the company to levels prescribed by the stock market regulator for listed firms, and also provide Fortis with money to retire some of its […] |