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UAE’s telecom giant Emirates Telecommunications Corp (Etisalat) is close to picking up a majority stake in Mumbai- based Swan Telecom. Etisalat has been scouting for an Indian partner for more than 6 months and was earlier in talks with other players including Spice Communication and Videocon-backed Datacom. Swan is among the few operators which had recently bagged licences to offer telecom services in the country. According to industry sources, talks between Etisalat and promoters of Swan are moving towards the latter picking up around 51 per cent stake in the Indian company. […]
Japanese spirits giant Suntory is believed to be interested in acquiring a 10-15% stake in Vijay Mallya’s United Spirits (USL) for about $600 million. USL is already in preliminary talks with multinational drinks giants Diageo, Pernod Ricard and Bacardi for a stake sale. A potential sale could value USL, the world’s third largest spirits marketer by volume, at around $6 billion. A top USL source confirmed Suntory’s interest “for a strategic alignment,” adding that details of Suntory’s interest are still being gathered. In November last, ET had first reported on Mr Mallya’s move to offload shares in the flagship spirits company. “There are several interested players who know it is a one-time chance to get their distribution act right in India. And I will be looking at unlocking maximum shareholder value,” Mr Mallya told ET. The USL stock closed at Rs 1,313 on Wednesday, valuing a 15% stake at around $430 million. […]
Kraft Foods Inc. (KFT) is finalizing plans to buy a stake in an Indian company, possibly a Mumbai-based biscuit maker, the Economic Times reported Thursday citing unnamed sources. Buying a stake would put the company on the fast track in the country, as starting from scratch could take up to two to three years, a source said in the report. The company has already appointed key officials for its India plans, the report said. (Trading Markets) […]
South African IT company Datatec Ltd said it has acquired a 50.01 percent stake in Inflow Technologies Private Ltd, an Indian information and communications technology (ICT) distribution business, for an undisclosed amount. The company said on Thursday the remaining stake in Inflow Technologies Private Ltd will be held by management and existing shareholders. Inflow is a value-added distributor focusing on technology enablement and distribution of security, storage and networking products, and services. It has alliances with 22 global technology vendors. […]
Global Holdings Company (GHC), the holding company of telecom firms GTL and GTL Infrastructure, is in talks to acquire Mumbai-based Indmar Aviation Services Company for an undisclosed amount. The deal is expected to be concluded within the next 15-20 days. Global Projects and Aviations, a subsidiary of Global Holdings Company (GHC), will be the designated company to acquire Indmar, sources close to the development said. Cash-strapped Indmar, which provides maintenance and repair services to general aviation, was in talks with investors for fund-raising. […]
Construction firm Gammon India on Wednesday announced the acquisition of a 50% stake in Italy-based power firm Sofinter for an undisclosed sum. The deal is Gammon’s third acquisition in the Italian market this year. In a regulatory filing, Gammon has informed BSE that its step-down offshore subsidiary has acquired 50% equity of Sofinter, the holding company of Ansaldo Caldaie, one of the major power equipment supplier in Italy. Though Gammon did not disclose the deal size, a source close to the development said it’s around $70 million. The deal would also help Gammon to consolidate its presence in Indian power sector as Ansaldo Caldaie Boilder — the Indian subsidiary of Ansaldo Caldaie — has begun operations. […]
TravelPort Holidays (India) Pvt Ltd, a Mumbai-based online travel agency, is in talks with private equity players to raise funds for its offline and online expansion to tap the domestic travel industry, which is poised for significant growth in the coming years. Heena Akkhtar, chief operating officer, TravelPort, told DNA Money that the company is raising funds through private placement. “We are currently in the process of fine-tuning the funding arrangement with one of the PE firms. So, concrete details cannot be disclosed at this stage,” she said. TravelPort expects to close the deal in another couple of months. While valuation details are being worked out, industry sources said the company is looking at diluting 10-20% stake. “The money to be raised could be anything between Rs 15 crore and Rs 20 crore,” said the source. […]
The race to induct a strategic partner in Tata Teleservices (TTSL) seems to have narrowed down to Japan’s NTT DoCoMo and European telecom giant France Telecom. The Tata Group is close to diluting its stake for around Rs 5,000 crore in the country’s sixth-largest telecom operator, industry sources told ET . “Talks are in the final stage and a deal is expected to be announced in the next two months,” informed sources said. One industry source with knowledge of the matter said NTT DoCoMo might be the front-runner. This, however, could not be independently confirmed. Both companies have put in bids. It’s not clear when a formal announcement would be made. It is also not clear as to the exact stake which the partner will pick up. The figure of Rs 5,000 crore assumes a stake sale in the region of 12%. However, a number of industry sources following the transaction said the bids were for a 26% holding, involving a pay-out (for the investor) of around Rs 10,000 crore. […]
Tata Group company, Tata Communications on Monday said it has invested $11.5 million in a next generation content delivery network (CDN) company BitGravity. A company statement said Tata Communications entered into a strategic partnership with BitGravity and invested USD 11.5 million in convertible debt of BitGravity. With the strategic tie up, the company launches CDN services including high quality content and video. (ET) […]
Three global alcohol beverage firms, including world's largest spirits firm Diageo, have evinced interest for a strategic stake in the Rs 3,200-crore United Spirits, the spirits arm of the UB Group. UB Group Chairman Vijay Mallya talking to the media in Bangalore on Wednesday on the sidelines of United Breweries AGM, said that there is serious interest from at least three global players who are in discussions with him to pick up stake in United Spirits. “The interest is of strategic nature. We have a strong distribution network in India and global players wanting to enter India are keen on this. In turn, we will look to leverage our partners' global network for an international footprint. The talks, including with Diageo, are on,” he said, declining to outline a timeframe for this strategic move. […]
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