American Tower Corporation (ATC) is in fresh discussions to acquire TowerVision India, a smaller independent telecom tower management firm, jointly owned by Israel's Fore Group and private equity firm Quadrangle. The New York-listed American Tower clinched two buyouts and has been open to more since its entry into India six years ago. In December 2010, TowerVision had started sale talks and discussed a deal with GTL Infrastructure and American Tower, among others. Quadrangle led a group of investors committing $300 million to fund TowerVision's expansion plans in February 2010. But the USbased PE firm was rocked by scandals and recession, triggering a stake sale move at TowerVision shortly thereafter. (The Times Of India)

Wipro eyes ANZ Banking’s IT biz: Wipro Ltd. is in talks to acquire the IT assets of ANZ Banking Group. In India, ANZ Banking’s global IT operations include ANZ Operations and Technology Pvt Ltd. and ANZ Support Services India Pvt Ltd based out of Bangalore. By acquiring ANZ’s IT business, Wipro can strengthen its BFSI (banking, financial services and insurance) vertical, which has always lagged its peers. Last year, ANZ transferred 360 employees who were testing ANZ’s banking software from its Melbourne and Bangalore centres to Capgemini. (Business Line)

Tata's PE arm eyes buyout deals worth about $300 millionPadmanabh Sinha, after taking charge of the PE arm of the $80-billion Tata Group, he raised a maiden $600-million (about Rs 3,264 crore) fund, the largest India-focused fund raised in the last five years. Early this month, Tata Opportunities Fund had closed its maiden fund by raising a corpus of $600 million, even as general partners struggled to raise their first funds. The fund would eye investments in the $30-120 million range accounting for significant minority stakes in companies in India. Though the majority of the fund would be deployed in Tata Group companies, the fund would also explore good opportunities in the unlisted space in India. Three more deals with Tata group companies are under various stages. (Business Standard)

ACME Energy to raise $50 million from IFC for solar projects: Acme Energy is set to raise around $50 million (INR 270 crore) from the International Finance Corporation for solar projects. The projects involve a multi-level engagement and partnership with Acme Solar Energy Pvt. Ltd. (ACME Solar), a holding company of ACME Tele Power, to develop, construct and operate solar generation assets in India. The money would be used over the next few years for various projects that ACME Solar is developing. The first tranche of this financing is expected to be provided to ACME Solar Energy (Madhya Pradesh) Pvt. Ltd., a subsidiary of ACME Solar, to develop a 25 Mw solar plant in Madhya Pradesh. (Business Standard)

Courtesy: VCCEdge

Leave Your Comment(s)