Actis, an emerging markets-focused private equity fund with $5 billion (Rs 29,510 crore on Thursday) under management, has zeroed in on a New York-based PE fund to offload its stake in Nilgiri Dairy Farm for $110 million (Rs 506 crore), according to sources. Actis had acquired a 65% stake for $65 million in Nilgiri during early 2006, and has been trying to exit the firm since late last year. It had mandated HSBC to scout for a buyer, which lapsed early this financial year. (Business Standard)
Madhucon in talks to close stake sale in 4 road projects: Infrastructure company Madhucon Projects Ltd is in negotiations to divest four completed road projects and part stake in its power arm, which is implementing a 1,920-MW three-phase thermal power project in Andhra Pradesh. The company expects to conclude the deal as early as possible. Madhucon has a portfolio of four completed build, operate and transfer projects. This includes one NHAI project in Rajasthan (Bharatpur to Mahua Agra-Jaipur Expressway) and three national highway projects in Tamil Nadu. (Business Line)
Hero MotoCorp may hike stake in Erik Buell: Hero MotoCorp may look at increasing its stake in its US-based partner Erik Buell Racing (EBR). Hero aims to enhance its presence in the high-end bikes segment to meet the requirements of international markets. The company, however, did not specify any timeframe for the proposed stake acquisition. Hero recently announced its plan to invest $25 million for a total 49.2% stake in EBR. (DNA)
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