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Hinduja-owned IndusInd Media and Communications (IMCL) is in talks with private equity investors to raise $75 million to fund the second phase of cable TV digitisation. IMCL has mandated Ernst & Young to find an investor for its funding requirement. “With India mandating digitisation, there is a huge appetite to invest in cable TV companies. We are looking at raising $75 million. E&Y has been given the mandate for this purpose,” IndusInd Media & Communications chief executive officer Nagesh Chhabria […]
The Indian business process outsourcing industry in the recent times have been in news due to renewed interest shown by private equity industry. However, the one deal that missed creating the buzz was the acquisition of MModal, earlier known as CBay Systems, by One Equity Partners, JPMorgan’s PE partner for $1.1 billion.
The deal that was announced in July this year would be one of the large PE deal in the BPO space this year. A month after that, in […]
India Venture Advisors, the private equity arm of Piramal Enterprises Ltd, is set to raise a Rs 1,000-crore health care-focused fund. The Rs 500-crore fund, with an over-allotment of Rs 500 crore, will be launched officially within a month. India Venture, founded in 2007 by Ajay Piramal and A K Purwar, former chairman of State Bank of India, has its focus on health care and life sciences investments. The fund, India Venture Advisors Fund II, will be raised from domestic […]
Fair trade regulator Competition Commission of India (CCI) today said it has approved Religare group’s 49 per cent stake sale in its mutual fund business to global investment management firm Invesco. According to the deal, reached in September, US-based Invesco is acquiring 49 per cent stake in Religare Asset Management Company and Religare Trustee Company Pvt Limited, which manage assets worth over Rs 14,600 crore for Religare group’s mutual fund business.
Invesco is acquiring the stake through a group […]
Drinks giant Diageo Plc has agreed to buy up to 53.4% stake in United Spirits Ltd (USL) for $2 billion (over Rs 11,000 crore) in a deal combining the world’s most valued liquor company with the largest volume player.
This one swig makes Diageo the new master of India’s booming liquor market with more than 50% share. India, one of the fastest growing geographies for alcoholic beverages, also becomes Diageo’s second largest market after the US.
The British behemoth, however, […]
Indian lubricants maker Gulf Oil Corp said on Tuesday it has acquired U.S.-based specialty chemicals company Houghton International HGINL.UL from a private equity fund for $1.05 billion. Gulf Oil, part of the diversified Hinduja Group, said Houghton’s strong presence in the industrial segment would complement its own range of automotive lubricants, and expected synergies in manufacturing, sourcing and distribution. Houghton sells metal working fluids across North America and Europe and operates 12 plants globally. It reported an operating profit of […]
DUSA Pharmaceuticals (Nasdaq: DUSA), an 86-person life sciences firm focused on dermatology, has agreed to be acquired by Mumbai, India-based Sun Pharmaceutical Industries Ltd. and DUSA Pharmaceuticals Inc. for $230 million. The price of $8 per share in cash is a 38 percent premium on DUSA’s closing share price Wednesday, Nov. 7.
Under the terms of the agreement, a subsidiary of Sun Pharmaceutical will commence a tender offer for all of the outstanding common stock of Wilmington, Mass-based DUSA after […]
Morgan Stanley has launched the sale of its India private wealth management unit, which manages about $1 billion including loans, after entering the highly fragmented and competitive market just four years ago, sources with knowledge of the matter said. Wealth management platforms are usually sold for about 2 to 3 percent of the assets under management, although the sources said it was not yet clear what price tag the unit could fetch. Morgan Stanley has launched a strategic review of […]
Info Edge (India) Ltd has invested an amount of Rs. 50 million (Rs. Fifty million) through optionally convertible cumulative redeemable preference shares in Happily Unmarried Marketing Private Limited for about 25% of the Company, on a fully diluted and converted basis.
The Company is engaged in the business of designing & selling fun products through offline stores and will also now be expanding its online business through its website www.happilyunmarried.com. Source: Equity Bulls
Food connoisseurs aren’t likely to forget the taste of flame-grilled peri-peri chicken in a hurry. But Nando’s, a South African restaurant chain of Portuguese theme, will see its India rights acquired by a new owner shortly, said people familiar with the matter. Private equity firm New Silk Route (NSR) is likely to acquire 74% stake in Nandos Indage Restaurants, a group company of the pioneering wine maker Shamrao Chougule family, which controls the financially troubled Indage Vintners. The $1.4-billion NSR […]
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