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Capital International may buy into InterGlobe Tech; Vedanta eyes Deccan Gold Mines

28 July, 2017

US-based private equity firm Capital International is set to buy a 37% stake in InterGlobe Technology Quotient for $200 million, The Times of India reported, citing people aware of the development.

Capital International will buy the stake held by financial investors including Standard Chartered Bank, Singapore’s DBS Bank and Credit Suisse, the report.

InterGlobe Technology is a strategic business unit of InterGlobe Enterprises, the parent of budget carrier IndiGo. It provides technology, payment and other services to travel and tourism companies.

In 2015-16, InterGlobe Technology posted a net profit of Rs 159 crore on total income of Rs 418 crore.

In another development, billionaire Anil Agarwal-led Vedanta Ltd is in talks to acquire a controlling stake in Deccan Gold Mines Ltd, The Economic Times reported citing sources aware of the development.

Vedanta is negotiating to buy a 26% stake, which will trigger an open offer to buy additional shares from public shareholders, the report added.

Deccan Gold Mines is the first listed gold exploration company in India. Shares of the company jumped as much as 20% on Friday to a high of Rs 52.40 apiece, giving it a market value of Rs 483 crore.

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Capital International may buy into InterGlobe Tech; Vedanta eyes Deccan Gold Mines

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