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Nasdaq-listed Perrigo Company has acquired an 85% stake in Mumbai-based Vedants Drugs and Fine Chemicals. Sources revealed that Perrigo taken the decision on acquiring stake as it plans to make India a major global production base for the company. Presently, Vedants is setting up a new European Union and US Food and Drug Administration- (FDA) complaint manufacturing facility at Ambernath, near Mumbai. […] India's biggest mobile operator Bharti Airtel (Bharti) and South African telecom major MTN Group announced last week that they have extended the deadline for exclusive merger talks till September 30, indicating that the two parties are close to clinching the deal, which is being billed as India's biggest-cross border deal, eclipsing Tata Steel's acquisition of Anglo-Dutch steel major Corus for $12.2 billion in 2006 and would create an emerging markets giant with 200 million mobile subscribers in more than 20 countries across India, Africa and the Middle East. The deadline extension has, however, created concerns among investors in India and market watchers claimed that the deal structure is too complex to succeed.In India the deal could also face regulatory issues. Analysts have also brushed aside concerns that FDI restrictions in India could pose a problem. […] Mortgage loans lender LIC Housing Finance (LICHF) is likely to finalise a partner for its real estate venture capital fund by the end of this month, a top company official said. LICHF is launching a Rs 500-crore real estate venture capital fund and has been scouting for a domestic partner. The fund is slated to be launched by end-September. “The Board Committee on the venture capital fund is likely to decide the final partner by the end of this month,'' LIC Housing Finance Director and Chief Executive Mr R R Nair told PTI here. […] Anil Ambani-run Reliance Money may acquire five per cent more stake in the National Multi-Commodity Exchange of India (NMCE) to take its total holding to 15 per cent in line with the new guidelines. “As per the new guidelines issued by the Forward Markets Commission (FMC), we can take an additional five per cent stake in NMCE,” Reliance Money Managing Director Sudip Bandyopadhyay told PTI here. […] Realty firm Modern India today said that it has initiated dialogues with private equity firms to raise Rs 150 crore for part-funding the roposed IT/ITeS Special Export Zone at Khopoli in Maharashtra. “We are talking to private equity players both in India and abroad, to raise Rs 150 for developing the IT/ITeS SEZ at Khopoli,” Modern India's Chairman V K Jatia said. The deal is likely to be sealed within the next six months, he said, adding that the company might have to dilute upto 30-35 per cent stake in the project for raising the fund. […] The $200 million fund, which focuses on small and medium enterprises, picked up the stake in the optical networking equipment manufacturer in a secondary deal. FSL refrained from giving details. “It's a complete stake sale. Unfortunately, we can't disclose the seller's name or value of the transaction,” a spokesperson said. Existing investors in Tejas include Battery Ventures, Cascade Capital Management, Mayfield Funds, Intel Capital, Goldman Sachs and Sandstone Private Investments. […] The Foreign Investment Promotion Board, or FIPB, has approved Bangalore-based Forum Synergies PE Fund Managers’ proposal to get Rs 651 crore investment from Mauritius-based India Knowledge Manufacturing Company (IKMC). The board had rejected it twice in the past. This time, it has cleared it with the condition that IKMC will accept neither money nor equity from a source within India — be it a company or a resident. The proposal will now be put up to the Cabinet Committee of Economic Affairs, or CCEA, for approval, as all proposals are if they involve foreign direct investment of more than Rs 600 crore. […] Financial services firm Religare Enterprises has submitted a non-indicative bid to buy the Asian private banking assets of Dutch insurance and banking major ING, said a person familiar with the development. Zurich-based financial services firm Credit Suisse and a couple of Singapore banks are also said to be in the fray for the business that manages assets of e11 billion (Rs 75,250 crore), he said, requesting anonymity. […] The government plans to launch a venture fund to promote green technology research. The size of the fund and other specifics will be determined by the National Mission on Strategic Knowledge for Climate Change (NMSKCC). The initiative is separate from a government plan launched in 2007 to subsidize new companies to manufacture photovoltaic cells and panels. NMSKCC, which is in the process of preparing a mission document with milestones for promoting green technologies, said it will identify key institutes that will be designated as centers of excellence in climate research. […] International Coal Ventures Pvt. Ltd (ICVL), a company set up by five state-owned firms, is in talks with a leading coking coal producer in the US for acquiring a stake in the company as a precursor to accessing mining concessions in that country. ICVL, owned by NTPC Ltd, Steel Authority of India Ltd(SAIL), Coal India Ltd (CIL), Rashtriya Ispat Nigam Ltd(RINL) and NMDC Ltd, is being advised on the transaction, code-named “Project Roy”, by Giuliani Partners Llc, a management consulting business founded by former New York City mayor Rudolph Giuliani. […] |