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IT major Patni Computer Systems is close to acquiring a European IT company for $20-25 million (around Rs 100 crore) and is expected to announce the deal in the next two months. The acquisition gains importance as two private equity majors – Apax and Carlyle – are in advanced stages of discussion to acquire a 20 per cent stake in the Indian IT major from two of its largest shareholders — Ashok Kumar Patni and Gajendra Kumar Patni — who together own about 29 per cent. […] Vijay Mallya led United Breweries Kingfisher Airlines is planning to buy the low cost carrier, Air Deccan. If the said acquisition works out, Kingfisher Airlines will become largest aviation player by market share in the country, reports Economic Times. The two groups, believed to be in an advanced stage of talks are expected to make an announcement soon. […] The share price of Patni Computer Systems has surged over 8 per cent in the last two days on market buzz that IBM is in talks to acquire around 25 per cent in the company. With Patni’s market cap at Rs 7,211 crore on close of trading today, the acquisition could cost IBM around Rs 2,000 crore. Some investors are planning to offload their stake in the company. If IBM buys 25 per cent, it will have to make an open offer for an additional 20 per cent stake as per the Takeover Code of the Securities and Exchange Board of India. […] Has Deccan Aviation managing director Capt G R Gopinath closed in on a financial investor for his budget airline Air Deccan? On Thursday, the Street was abuzz with a strong rumour that the pioneer of low-cost aviation could be within … […] It was the sher khan of retail broking but now ShareKhan is all set to change hands. NDTV has learnt that Citi's venture capital arm CVC may pick up majority stake in Sharekhan and the deal might be announced in the next 48 hours. Even though management has declined to comment, it did admit that Citi is a top contender and an announcement on the buyer will be made by Thursday. […] HDFC limited may be looking at selling off its stake in its joint venture, Intelenet Global Services, a leading Business Process Outsourcing (BPO) Company. HDFC owns a 50 per cent stake in the venture while the other 50 per cent … […] State-run Canara Bank is looking to buy smaller rival Dena Bank, the Business Standard reported on Wednesday quoting unnamed sources. Canara had appointed Ernst & Young to explore the possibility of the deal and the banks' chairmen would meet soon, the report said, quoting sources close to the development. […] Air Deccan's low cost operations may get some high value investments from private equities (PE). According to sources it is planning to raise $50-100 million and has approached PE funds like TPG and Blackstone among others. Edelweiss securities has been … […] The Reliance Anil Dhirubhai Ambani Group (ADAG) is now eyeing Miditech, the production house synonymous with reality programming in India, for a 51% buy-out. The company’s interest in Miditech stems from its plan to foray into the broadcasting space with … […] Unza Holdings is a Singapore-based consumer goods company. It is a leading personal care manufacturer and marketer in Dabur … […] |