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Flagship carrier Air India is exploring a strategic alliance or an equity stake in Serbia’s national carrier Jugoslavenski Aerotransport (JAT), an official said on Monday. “Discussions are on for a joint venture. We are also exploring the possibility of buying a stake in JAT,” said Air India executive director (public relations) S. Venkat. State-run Air India was exchanging data including traffic and looking at valuations and profitability, he added. […] Tata Tea today made an open offer to purchase an additional 20% stake in Mount Everest Mineral Water (MEMW) for Rs 95.19 crore. The Tata group firm will acquire up to 67.99 lakh equity shares at a price of Rs 140 each, to be funded through internal accruals, the company said in a public announcement. […] France Telecom on Monday confirmed it was in exclusive discussions to acquire two units of Indian network services provider GTL Ltd to reinforce its corporate services in India. “Orange Business Services confirms having started exclusive talks with GTL in order to buy two divisions,” said a spokesman at France Telecom, adding these were information technology and telecom network management businesses. The Economic Times, quoting a source close to the talks, said at the weekend that France Telecom was close to acquiring GTL's IT business for about 2.5-3.0 billion rupees. […] It's happening all over the industry. Professionals, after working through the corporate ladder for quite some time, are taking a plunge into entrepreneurship. The sector that's witnessing the trend most is the private equity fund management. Recently, a breakaway team from Citigroup and Citigroup Venture Capital International is targetting to raise a $125 million private equity fund. The fund will be managed by Samara Capital Management, and has been put together by Sumeet Narang, Gautam Gode and Radhika Dubash, who have held top positions in Citigroup and Citigroup Venture Capital International. […] Angel Broking, which proposes to enter into insurance and third-party products, plans to invest Rs 600 crore to complement its expansion plans that includes scaling up its branch network from 75 to 250 branches across the country in 3 years. Angel is planning to raise Rs 250 crore from private equity investors and rest of the amount from internal accruals. […] Goldman Sachs will pick up a 5 per cent stake in IL&FS Transportation Networks Ltd, a subsidiary of Infrastructure Leasing & Financial Services Ltd. Sources said Goldman Sachs would route the investment through its Mauritius-based wholly owned subsidiary — GS Strategic Investment Ltd. GS Strategic Investment will acquire 83.30 lakh shares of IL&FS Transportation, comprising 5.13 per cent of the equity, for Rs 83 crore. […] India’s Rain Calcining Ltd said it had agreed to acquire US-based CII Carbon LLC. for $595 million in an all cash deal, making the combined entity the world’s largest maker of calcined petroleum coke. Calcined petroleum coke is a pure … […] The Hinduja Group India, which is in businesses ranging from banking to automobiles, plans to develop 4,000acres of land held by its listed units for residential and commercial use, under a company called Asiaa Property Development Ltd, joining a slew of business houses looking to cash in on a real-estate boom in the country. It’s also talking to private equity players interested in partnering the group in this venture. […] United Breweries (Holdings) Ltd, which has acquired 26% stake in the country’s largest low-cost airline company Deccan Aviation Ltd for Rs 550 crore, will fund the deal partly through internal accruals. In keeping with the laws governing Indian stock markets, UBHL will also make an open offer next week to Deccan Aviation’s shareholders to acquire an additional stake of at least 20%. […] The US-based Avenue Capital Group, a $12-billion hedge fund manager, has signed a deal with Nikhil Gandhi-promoted SKIL Infrastructure to pick up 26% stake for around $500 million. Avenue has raised $2 billion to invest in India’s infrastructure space, and … […] |