Actis May Invest $125M In SuperMax – Actis is set to close another major deals by investing $125 million in razor blade manufacturer SuperMax Corp to acquire a minority stake. SuperMax is the world’s second largest razor blade manufacturer after Gillette. Vidyut Mettalics Pvt. Ltd, the company through which SuperMax manages its Indian operations, is owned by the Malhotra family with annual revenues of Rs 800 crore. (Business Standard)
Munjals To Acquire Honda Stake For $1B – Munjal family is set to acquire Honda Motors’ 26% stake in their joint venture Hero Honda Motors Ltd for around $1 billion, or half the current value of the stake in the stock market. The first phase of the two-tiered deal will see Munjals acquire the foreign partner’s stake through a special purpose vehicle (SPV) by raising a bridge loan. The Indian promoters will subsequently divest 60-70% stake in this SPV to a group of 2-3 private equity firms. PE firms including Carlyle, Kohlberg Kravis & Roberts (KKR), TPG, Bain Capital and Warburg Pincus are in the fray. (Economic Times)
CarDekho.com To Sell Stake – IT firm GirnarSoft is in talks with private equity players and venture capital firms for offloading stake in its automobile portal Cardekho.com. A couple of US-based PE players and a few Indian venture capital funds have shown interest in this leading automobile portal. (ET)
FIPB Blocks Qualcomm Deal – The government has delayed approval of US chipmaker Qualcomm’s India operations, extending the chipmaker’s wait for airwaves. Foreign Investment Promotion Board (FIPB), the central agency that approves all key investments into the country, has deferred Qualcomm’s proposal yet again to it’s next meeting on December 31, according to a note sent by the finance ministry. (ET)
Oceanaa Group Eyes PE Funding – Chennai-based Oceanaa Group, would soon add 86 value added products to its existing portfolio with a total investment of Rs 200 crore. The company is also planning to enter into marine frozen products business with pan India operations and is in talks with private equity firms and banks for raising funds. (BS)
Carlyle’s Rajeev Gupta May Join Kothari’s Fund – Hemendra Kothari, the veteran deal maker, is likely to bring in Rajeev Gupta, currently managing director and head of the India Buyout team at Carlyle, for a family fund he has planned to launch next year. The fund is reportedly to be launched next month. Kothari is currently non-executive chairman of DSP BlackRock Investment Managers. (BS)
International Coal Ventures Eyes Riversdale Mining – International Coal Ventures Ltd (ICVL), a company floated by five Indian public sector companies — SAIL, NMDC, NTPC, RINL and Coal India — may bid for Australia’s Riversdale Mining. (BS)
Emami Eyes Overseas Buys After Paras Deal – After losing out to MNC rivals on the Paras deal and ready with a war-chest of Rs 5,000 crore, Emami Ltd has stepped up its global hunt and is aiming to scoop one before the end of the current financial year from among the five it is in negotiations with now. The targets are located in the US, Turkey, Poland and West Asia. (HBL)
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