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News Roundup: Astro To Buy 49% In NDTV Lifestyle

13 August, 2010

Astro To Buy 49% In NDTV Lifestyle – Malaysia-based investor Astro is set to buy 49% stake in Delhi-based NDTV Lifestyle Holding for $40 million (around Rs 180 crore). NDTV Lifestyle Holding will infuse the funds in NDTV Lifestyle, the promoter of NDTV Goodtime, the lifestyle channel of NDTV Group. NDTV earlier called of its agreement with US-based Scripps Networks Interactive. (Financial Express)

Credit Suisse Banker Starts PE Firm – Hari Achuthan, till recently a director in Credit Suisse Asset Management’s alternative investments group, has founded Achuthan & Co. LLC with Karl Bornefalk. The PE firms aims to be the largest India-focused firm. Achutan & Co will will be a emerging markets private equity firm starting with an India focused strategy. Achuthan was selected as one of the emerging leaders in an internal program at Credit Suisse Asset Management in 2009. (Dow Jones)

Lenders Go For TPG’s Sweetened Bid – Lenders to debt-ridden Vishal Retail have decided to accept investment firm Texas Pacific Group’s proposal to acquire the retail outfit, putting Future Group out of the race. The move came after TPG sweetened its offer with more money to the lenders and also agreed to reduce the moratorium period by a year. (Business Standard)

Pipavav May Offload 26% To Strategic Investor – Pipavav Shipyard Ltd. is planning to raise funds through strategic stake sale. The company would issue 26% fresh equity to the strategic investor. Pipavav Shipyard is in final stage of discusses for the proposed stakesale. (Moneycontrol)

ITC In Talks To Buy RDB’s Cigarette Biz – Cigarette-to-hospitality major ITC Ltd. is planning to acquire de-merged cigarette division of Kolkata-based RDB Industries Ltd. for approximately $75.11 million (INR 3.5 billion). The company is already in talks with RDB for buying the recently de-merged cigarette division. The funds would be used for expansion. RDB is also planning to raise funds either through private equity (PE) players or form banks. (BS)

R-Power Plans 25% Stake Sale For $1.9B – Reliance Power is planning to raise $1.9 billion via share sale to institutions or by issuing securities overseas. The company would consider a share sale to institutions for up to 15% of the equity capital and an overseas securities issue for up to 10% of the equity. The promoter holds 84.8% stake in the company. (BS)

S Kumars Plans To Sell Minority Stake In Holding Firm – Kasliwal-promoted apparel and fabric maker S Kumars Nationwide Ltd. (SKNL), is planning to sell a minority stake between 10-12% stake in their family holding company Anjaneya Holdings Ltd. The company is already in talks with three-four private equity (PE) funds for the proposed stake sale. The family is also looking to sell a part of their stake in its fully owned subsidiary Reid and Taylor (India) Ltd. (RTIL) in a public offer by December. (Mint)

SAIL May Offer Posco Majority Stake In JV – Steel Authority of India (SAIL), is planning to offer a majority stake to Posco in their proposed venture. The deal is expected to be completed in October or November. The funds would be used for developing plant in Jharkhand. (Economic Times)

DB Realty To Raise Rs 1000Cr For Acquisitions – DB Realty Ltd. is eyeing acquisitions and would spend $213.68 million on acquiring new redevelopment projects. The company is in the final stages of securing the rights to redevelop the Abhyudayanagar property at Kalachowkie, a 3 million square feet land parcel belonging to the Maharashtra Housing and Area Development Authority. (DNA)

Jyothy Labs Plans To Buy Fabric Care Firms For $53.42M – Jyothy Laboratories Ltd, the maker of Ujala fabric whitener, is planning to acquire two domestic fast moving consumer goods  companies, both in the fabric care space for approximately $53.42 million. The acquisitions expected to be completed by end-December. Recently, the company raised $48.7 million through QIP. (DNA)

Core Projects Eyes N America, UK For Buys – Core Projects & Technologies Ltd. is planning for acquisitions in North American and United Kingdom region. The deal size for the acquisition would be approximately $40 million.


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News Roundup: Astro To Buy 49% In NDTV Lifestyle

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