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News Roundup: Apollo In Talks To Invest $100M In Gati

BY  TEAM VCC
Deal may involve upfront equity and convertible instruments giving Apollo a significant minority interest.

Apollo In Talks To Invest $100M In Gati - Private equity giant Apollo Global Management is holding talks with courier and shipping firm Gati for $100 million minority investment. The deal might involve upfront equity and convertible instruments giving Apollo hold over significant minority interest in the Rs 751-crore company, based in Secundrabad. The promoters, Mahendra Agarwal and family, hold around 50% stake in Gati. Gati's promoter has explored multiple channels to raise funds in recent past. (Times of India)

DLF In Talks With Tata Realty, M3M For Gurgaon Plot - India's biggest real estate firm DLF is selling a 27.4-acre plot of land in Gurgaon for around Rs 400 crore. The plot has all approvals and permissions for building a group housing project in place, including an approval for a built-up space of 2 million sq ft. Real estate players such as Tata Realty and M3M Developers are believed to be in the race for the land. (Economic Times)

Former Actis Partner Starts $250M Fund - Subbarao Telidevara, a former partner of global private equity firm Actis, has started a $250 million (Rs.1,105 crore) fund that will invest in buyout, growth capital funding, and private investment in public equity (PIPE) deals. LotusPool Capital will achieve its first closing in 8-12 months. Telidevara is in talks with a number of potential investors in Europe and the US, including family offices, sovereign funds and funds of funds that have an Asia specialization. (Mint)

Blue Hill Group To Raise $55M - Blue Hill Group which has been started by Prabhu Ramachandran, the fourth generation entrepreneur from the family which founded Nilgiris Dairy & Retail more than a century ago, is looking to expand its businesses which are into super luxury scheduled surface trans-port, quick service restaurants, packaged food besi-des food retailing. The group is aiming to raise as much $55 million (approximately Rs 250 crore) immediately to invest and expand these businesses. (Business Standard)

Phoenix Mills Ups Stake In Bangalore's Market City - Phoenix Mills Ltd has bought HBS Realtors Pvt. Ltd’s entire 8.6% stake in its “Market City” development in Bangalore for Rs.17 crore, lifting the holding to 46.4% as it consolidates its position in key projects. Co-investors Horizon Venture Capital Fund and IL&FS Investment Managers Ltd share the remaining stake. Phoenix Mills, which owns the High Street Phoenix shopping area in central Mumbai, recently launched the first of four Market City projects in Pune as India’s retail sector gathers momentum. (Mint)

Adani Buys 50% In DB Realty Project - DB Realty Ltd, a company linked with the so-called 2G telecom scam, has sold off its 50% stake in a south Mumbai property to the Adani Group. The Adani Group has also bought the remaining 50% stake in the Carmichael Road property. The joint venture is valued at Rs 450-500 crore. The 4,500 sq. m property is in an area considered to be one of the most expensive nationwide. (Mint)

NMDC Eyes Two Mining Assets - Country’s top iron ore miner NMDC today said it will clinch deals for two overseas mining assets within 100 days as talks are progressing fast. The state-run giant, which has earmarked $500 million (about Rs 2,400 crore) for overseas acquisitions this fiscal is targeting four assets, including two coal and two iron ore, in Australia, the US, Russia and some countries in Africa. NMDC has inked a memorandum of understanding to acquire up to 50 per cent stake in Australian mineral exploration company Legacy Iron Ore, is likely to finalise a sales-purchase agreement by September. (Business Line)

ETV's Sale Talks To Sony Lift JM Financial - The share price of JM Financial on Tuesday gained by as much as 9.5% during the first hour of the session as talks of Sony Entertainment Television is looking to buy out some ETV network channels. The stock of JM Financial, which owns significant stake in ETV, ended the day up by 1.4 per cent at Rs. 21.75, paring most of the initial gains. The stock touched the day's high of Rs 23.50 and a low of Rs 20.60. Sony Entertainment Television is looking to buy out six regional channels belonging to the Ramoji Group-owned ETV network of channels. (Business Line)

Piramal Eyes Small Stakes In Insurance Firms - Piramal Healthcare, which is sitting on a cash pile after selling its generics product business to US-based Abbott Labs last year for about Rs17,190 crore, is looking at minority stakes in top companies in the insurance sector. Piramal will invest in insurers where risk is minimal, and investments will be for the short to medium term. (DNA)

BSFL To Raise Rs 300Cr - Bhartiya Samruddhi Finance, a microfinance institution promoted by social entrepreneur Vijay Mahajan, is in talks with banks and private equity investors to raise around Rs 300 crore. This would allow the company to sustain its operations in the future. (Business Standard)

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