Apax, Bain Capital Eye $1.4B Genpact Stake – Private equity giants Apax Partners and Bain Capital are in a race to buy the world’s largest business process outsourcing (BPO) company, Genpact, after existing investors Oak Hill Capital and General Atlantic Partners decided to sell their 41% stake. Morgan Stanley and Citigroup are advising the sellers on what might be the biggest deal in the BPO industry. (Times of India)
Komli Media Raises $39M – Komli Media, India’s biggest online media technology platform for advertising, has raised $39 million, or Rs 214 crore, in the biggest round of fundraising by an internet company in the country this year. Norwest Venture Partners led the latest round with participation from existing investors—Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson— along with one new investor, Western Technology Investment. (Economic Times)
DLF Hotels Arm Sold To Kolkata Consortium – DLF, the country’s largest real estate company, has completed the sale of its hotel subsidiary DLF Hotels & Hospitality, which owns land parcels in four cities, to a Kolkata-based consortium of Avani Projects and Square Four Housing & Infrastructure Private for Rs 567 crore. The hotel subsidiary — which does not include Aman Resorts — was started in a joint venture with leading hospitality chain Hilton International. (Economic Times)
Sahara India Group Set To Buy Plaza Hotel For $570M – Subrata Roy-promoted multi-diversified Sahara India Group is set to acquire New York’s Plaza Hotel for $570 million (Rs 3,100 crore), a move that will give it access to the 130-room luxury hotel located near Manhattan’s Central Park—a century-old destination for socialites and celebrities. (Times of India)
MRPL In Talks To Buy Haldia Petrochemicals – Key officials of Mangalore Refinery and Petrochemicals Ltd (MRPL) on Monday met West Bengal’s commerce and industries minister Partha Chatterjee to seek the government’s permission to conduct a due diligence exercise at Haldia Petrochemicals Ltd (HPL), formally announcing for the first time its interest in acquiring the beleaguered firm.
Zurich Airport Eyes Navi Mumbai, Goa – Even as German airport developer Fraport AG is shutting its operations in India, deciding to sell its small stake in the Delhi airport, its competitor in Europe, Zurich Airport, is bullish on Asia’s third-largest economy. The company is eying investments in the greenfield international airport projects at Navi Mumbai and Goa. (Business Standard)
Nuziveedus Seeds Eyes IPO – Leading cotton seeds producer Nuziveedu Seeds (NSL) has posted a 29 per cent growth in revenue in the last fiscal at Rs 1,070 crore and is exploring the possibility of launching an initial public offer (IPO). The Hyderabad-based company had recorded a revenue of Rs 830 crore in 2010-11 fiscal. Blackstone through its arm Blackstone GPV Capital Partners Mauritius V-C had invested Rs 250 crore in NSL during 2010-11 fiscal.
Vedanta To Buy Power Unit Of Malco – Vedanta Aluminum Ltd (VAL) is planning to buy the power business undertaking of Madras Aluminium Company Ltd (Malco) for an estimated Rs 150 crore. Vedanta Group will subsequently merge Malco with Sesa Goa Ltd as part of a larger amalgamation scheme, according to VAL Group’s Sterlite Industries (India) Ltd. (Business Standard)