HDFC to buy stake in MMTC-Indiabulls
HDFC Bank has applied to the Reserve Bank of India to buy 10% stake in a commodity exchange promoted by MMTC- Indiabulls, reports PTI. The exchange would be operational from March 2009 onwards post which, HDFC Bank and MMTC-Indiabulls would have 26% and 40% stakes respectively, while the MMTC employees would have 2% stake in the exchange. Indian Potash Ltd. would be the fourth partner, holding 10% stake in the exchange. The new exchange would be the fourth national level commodity exchange and would be set up in Gurgaon.
Manipal Education buys Antigua University
Manipal Education has acquired the entire shareholding of American University of Antigua (AUA) from New York-based Greater Caribbean Learning Resources for an undisclosed amount. However, sources say that the company has raised $115 million debt financing from ICICI bank. AUA is among the top five medical education campuses in the Caribbean islands and this is Manipal Education’s third M&A in 18 months. (Via The Economic Times)
Piramal group to buy stake in Trichy hospital
Ajay Piramal Group’s healthcare private equity fund plans to acquire a considerable stake in a 400 bed hospital, based in Trichy, Kaveri Medical Center (KMC) for around Rs.100 crore. KMC has been looking for financial partners to support its expansion plans of having a network of 1,000 beds across tier II cities in south over the next three years.Though the talks are on, nothing has yet been finalised, reports ET.
Quatrro BPO to make over 6 acquisitions
Quatrro BPO solutions is in advanced talks to acquire around 6 companies including Legal Process Outsourcing and outsourcing in healthcare, financial services and insurance verticals. The firm has lined up funding commitments worth $300 million for acquisitions. Quatrro is likely to complete one acquisition valued at over $100 million by March 2009.
Khoday India to acquire Scottish bottling plants
Khoday India, a Bangalore-based liquor maker, plans to acquire a bottling plant in Scotland and to tie up with 18 bottling facilities in India for its capacity expansion. The firm hopes to double its capacity to nearly 15 lakh cases per annum from the current 7-8lakh in the next 3 years. The plant in Scotland has a manufacturing capacity of 15,000 cases per month and the value of the deal has been pegged at Rs 40 crore.
Leave Your Comment
9 years ago
The United Stock Exchange of India (USE) has picked up a 10% stake in the...
10 years ago
Indiabulls Financial Services has said that it will have a total of six partners...
10 years ago
Commodity market regulator Forward Markets Commission (FMC) has told Indiabulls...