American Express In Talks To Buy BillDesk For Rs 600Cr - Global financial services company American Express (AmEx) India is in talks with online payment service provider BillDesk to acquire a significant majority stake in the company. The due diligence is on in a deal expected to be around Rs 600 crore. In 2006, State Bank of India and California-based Clearstone Venture Advisors invested $7.5 million in BillDesk which offers services of recurring payments including telephone bills, electricity bills, cell-phone bills, credit card bills, depository account charges and ISP charges. (Financial Express)
Lupin Eyes Latin American Buys - Lupin Ltd, India’s fifth largest drug maker, is planning to acquire a large Latin American (LatAm) pharmaceutical company to enter a region where cheaper generic drugs outsell medicines sold by patent holders. The company, which aims to more than double sales to Rs.12,000 crore by March 2013, has already looked at a few companies including some in Brazil.
Manipal, AMRI Make Rs 500Cr Bids For Sterling - Manipal Health Enterprises and Kolkata's AMRI have placed bids in excess of Rs 500 crore to acquire Ahmedabad-based Sterling Hospitals, which is majority owned by private equity major Actis. The buyout offers were made last weekend as the bidding for Sterling Hospitals, with presence across six cities in Gujarat, closed on July 29. Actis, which owns 80% stake, and local partner Girish Patel expects around Rs 550-600 crore as sale price. They have appointed JM Financial to find a suitor for the regional hospital chain with about 900 beds including those under development. (Times of India)
Sachin Tendulkar, Anjana Reddy May Back Indian Racing League - Cricketer Sachin Tendulkar and his US-based friend Anjana Reddy, daughter of a Hyderabad-based media baron, are potential investors in Machdar Ventures launching the Indian Racing League (IRL). Tendulkar and Reddy, jointly as a block, are in discussions to pick up close to 26% stake in the league. Sheikh Maktoum's family is learnt to be one of the primary investors. (Times of India)
Essar To Bring In Foreign Partner In Mobile Retailing Biz- Diversified Essar Group plans to bring in a new foreign partner in its mobile retailing business under The Mobile Store brand after a tie-up with British businessman Richard Branson?’s Virgin Group came to an end in April. While the earlier collaboration wasn’t an equity partnership, the new one is likely to be a strategic investment, once the Indian government paves the way for hiking the limit of FDI allowed in multi-brand retail to 51%. (Mint)
Suzlon To Raise Rs 5,000Cr - Suzlon Energy’s board of directors on Monday approved a proposal to raise Rs 5,000 crore through issue of shares. Funds can be raised either by the way of issuance of equity shares, foreign currency convertible bonds, global depository receipts, or other such equity-linked products. (Business Standard)
Gayatri Projects Closing In On PE Deals For Energy, Roads - Gayatri Projects Ltd is in parleys with private equity (PE) players to raise funds for two of its verticals — power and roads — and is expecting to close the deals during the quarter to part-fund its expansion plans. Gayatri Infra Ventures Ltd that handles road projects is executing seven projects at a total outlay of Rs 5,200 crore — four annuity and three tollways. (Business Line)
GMR Infra Opts Out Of Race For Bandanna - GMR Infrastructure has opted out of the race to acquire Australia-based Bandanna Energy's coal mines after it found that a new local law prohibited foreign companies from mining on agricultural land. In June, GMR said it had progressed into the second stage of the transaction process for acquiring the mines, whose valuation was expected to range between $850 million and $1.5 billion. Other companies in the Bandanna shortlist include India's largest power producer NTPC, Jindal Power and Steel and Aditya Birla Group's Essel Mining, besides four Korean and Chinese firms. (Economic Times)
Viceroy Sells Bangalore Unit To JPMorgan - Hospitality player, Viceroy Hotels Limited, has completed the slump sale of its Bangalore project division to Viceroy Bangalore Hotels Private Limited (VBHPL). VBHPL ceased to be the subsidiary of the company on account of the strategic investment of Rs 74 crore out of Rs 90 crore infused by JP Morgan India Property Mauritius II by way subscription of 7.4 million equity shares of Rs 10 each at a price of Rs 100 per share. (Business Standard)
Aurobindo Pharma Eyes Acquisitions - City based-drug maker Aurobindo Pharma Ltd is eyeing overseas and domestic acquisitions to achieve a $2 billion turnover by 2014. The company board recently appointed a restructuring committee to examine if the company needs to be restructured and its businesses spun off or demerged into separate formulations and bulk actives. Aurobindo is looking to acquire a few companies, with sizes of $100 million to $200 million, in the CRAMS space in the overseas market for the bulk actives business Another proposal under consideration by the company is to acquire a Hyderabad-based branded formulations marketing company. (Business Standard)
Planetwildlife To Raise Rs 22Cr - Hyderabad-headquartered planetwildlife.com, a fully integrated wildlife travel portal, is planning to raise $ 5 million (Rs 22.29 crore) from private equity players this financial year. The funds would be used to ramp up website, add new revenue models, such as e-shop, and to explore acquisition opportunities. The portal was initiated by three promoters mainly to cater to the niche wildlife tourism segment in August 2010. With an initial funding of Rs 5 crore from Angel Investors, it commenced commercial operation in January this year. (Business Standard)
