BG Group is set to sign a 20-year contract worth as much as $20 billion to provide liquefied natural gas to Gujarat, the Financial Times reported on Tuesday citing people with knowledge of the deal. In 2011, the British oil and gas firm entered into an initial agreement with India’s state-owned Gujarat State Petroleum Corp to explore supplying as much ... Read More »
Enterprise messaging service provider ValueFirst Digital Media has acquired mobile video service clk2c.com for an undisclosed amount, according to a statement issued by the company. Clk2c.com, a unit of Samadhan Systems, offers personalised video mobile messaging and advertising solutions for enterprises and individual consumers. The acquisition will enable ValueFirst to execute media campaigns on its opt-in consumer base of more ... Read More »
Future Groups Kishore Biyani is set to raise about Rs.800 crore by unlocking value in two insurance joint ventures with Italys Generali Group as reported by ET. A formal announcement of the first transaction is expected as early as next week. To begin with,the Future Group will announce a deal in the life insurance JV, where Mumbai-based non-banking finance company ... Read More »
Avendus PE Investment Advisors are launching their third public market fund, reaffirming the private equity industrys growing interest in PIPE (private investment in public equity) transactions in India, as it looks to take advantage of low entry-level valuations as reported by ET. The five-year, Rs.500-crore India Opportunities Fund III, will be the latest investment vehicle for the mid-sized risk capital ... Read More »
Global private equity giant Warburg Pincus is expected to sell its 8.8% stake in ACB India for Rs 575 crore, valuing its total holding in Indias largest coal beneficiation firm at Rs.1,367 crore a 400% growth in the last five years as reported by Times of India. Warburg Pincus had acquired a total of 22% stake in ACB India for ... Read More »
Mohandas Pai and former Citibank executive Ramesh Ramanathan will be part of the business groups throwing their hats in the ring for a licence to start a bank as reported by ET. By doing so, the finance professionals will be joining what is expected to be a fierce competition for entry into a sector that has not admitted new players ... Read More »
South African financial services group Sanlam has strengthened its bondage with the Shriram group by acquiring a part of buyout firm TPGs stake in the eponymous truck financier as reported by ET. TPG, which was looking for a buyer for its 20% stake for nearly two years, managed to sell half of it for.1,600 crore to a few investors including ... Read More »
Making its third foray into civil aviation in 16 years, the Tata group has picked up a 30 per cent stake in a three-way joint venture with Malaysia’s AirAsia to start a low-fare domestic airline in India. AirAsia the largest discount carrier in Southeast Asia by fleet size, said Wednesday it has signed an initial agreement with Tata Sons Ltd. and ... Read More »
Chennai-based consumer goods firm CavinKare is in talks with private equity firms Everstone Capital and ChrysCapital to raise up to Rs.350 crore by selling a minority stake in the company, two people with direct knowledge of the development said to ET. The Chennai-based maker of Chik and Nyle shampoos has mandated financial services group JM Financial to negotiate the potential ... Read More »
Etihad Airways needs to revise its deal to buy a stake in India’s Jet Airways and it is too soon to say when a final agreement will be struck, the Abu Dhabi airline’s chairman told Reuters on Sunday. Sheikh Hamed bin Zayed al-Nahayan, speaking on the sidelines of a defence exhibition in the UAE capital, said officials would meet with Indian ... Read More »
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