Mergers & Acquisitions
Etisalat-Swan Telecom Talks In Final Stages– UAE’s Etisalat and Swan Telecom are said to be in final stages of talks and the former will pick up a 40% stake in latter. Swan Telecom had earlier this year received licence for rolling out operations in 13 circles.
Tata Steel Picks Up Stake In Australian Mining Co – The steel giant has picked up 7.3% stake in Australia’s Riversdale Mining fior $129 million. This stake takes the total shareholding of Tata to 43%. It had acquired 35% stake last year for $100 million. Riversdale Mining has coking coal projects in Mozambique.
Sahara To Sell Stake In Entertainment Unit – Sahara Group is planning to sell its stake in Sahara One Media and Entertainment Ltd, which stands at around 17%. The proceeds from the stake sale will go to Sahara India Financial Corp. Ltd, who will use the proceeds to meet investment norms laid down by India’s banking regulator.
Infotech Enterprises To Acquire Three Companies – Hyderabad-based IT services firm is planning to to acquire three companies, which are likely to be in hi-tech and automotive engineering services. The acquisitions will be done this fiscal and will be in the range of $20-30 million each.
Corporate & Policy
Govt Approves 18 SEZs – The government of India on Monday approved 18 special economic zones including by group firms of Bharat Forge and JSW Steel. The SEZ of JSW Steel is located in West Bengal. Govt also gave an in-principle nod to 10 tax-free zones.
Akhil Gupta Gets Stake In Bharti Infratel – Sunil Mittal’s right hand man Akhil Gupta has been given around half a per cent stake in Bharti Infratel. The stake has been given under the ESOP programme and is valued at Rs 225 crore. A clutch PE investors, including KKR and Temasek, have invested $1.25 billion in the tower arm.
Consim To Hive Off Job Portal – Online classifieds firm Consim Info Pvt. Ltd plans tohive off its jobs portal, www.clickjobs.com, into a separate company and raise $5 million in venture funding for its growth. The company also plans to roll-out a new strategy in next few months.