Apax Eyes $150M Stake In CavinKare - Apax Partners, the UK-based private equity major, is understood to have opened discussions with Chennai-based CavinKare for an estimated investment of $150 million. CavinKare is an established FMCG company, with a major presence in a range of personal care, food & dairy products. It reported revenue of Rs 1,016 crore for 2010-11. CavinKare, during the past two years, had acquired growing companies to mark a foray into the namkeens and fruit drink segments as it diversifies to take these pan-India. (Business Standard)
Brigade To Raise Rs 600cr From PEs - Brigade Enterprises, a Bangalore-based real estate developer, is planning to raise Rs 600 crore through the private equity (PE) route for hospitality and residential projects. The listed entity plans to raise Rs 300 crore each for hospitality and affordable homes (residential) projects. It is in discussion with a few private equity players to raise money for four hospitality projects spread across cities of Chennai, Mysore and Kerala. (Business Line)
Aero Turbines To Get Rs 60cr For MRO - Aero Turbines India Ltd, which had earlier planned to set up a maintenance repair and overhaul (MRO) depot at the Mihan-special economic zone (SEZ) but had put the venture on hold, now appears ready to go-ahead with the project. The company will be acquiring 36 acres in the SEZ and has got in-principle approval of loan by bankers and an equity infusion of Rs 60 crore from a sovereign wealth fund. (Times of India)
Hyderabad Angels Set For Three New Deals - Hyderabad Angels, a group of high networth individuals who pursue investment opportunities in start-up companies, will soon close funding deals in two or three companies. The funding will be in the order of $100k to $500k in technology, energy and agri-based business in a month or so. (Financial Chronicle)
Shalby Buys Into Goa-based Hospital - Shalby Hospitals, an Ahmedabad-based super-specialty hospital, has acquired a majority stake in Vrundavan Hospital Pvt Ltd, a Goa-based hospital. Vrundavan Hospital has three units in Goa state and it is the only hospital in India conducting 3,000 kidney dialysis every month. Shalby acquired 55% equity in the Goa-based hospital, which has combined capacity of 120-bed in all of its three units. (Business Standard)
Oil India Nears Stake Buy In Gabon - State-owned Oil India Ltd, which is in talks with French oil explorer Maurel and Prom SA to acquire a stake in its Gabon blocks valued at around $2 billion (Rs. 9,310 crore today), plans to close the deal by March. (Mint)
IL&FS In Talks For Russian Mines - Russian miner VO Zarubezhugol has invited lender IL&FS to join its talks with International Coal Venture Ltd (ICVL) to sell majority stake in a coking coal mine in Kuzbass province. A possible arrangement that could be considered is IL&FS becoming the majority investor and ICVL, a five-member Indian consortium formed to scout for coal assets overseas, the long-term buyer of the project's coking coal. (Economic Times)
