Avantha Group In Talks To Raise Rs 1,250Cr From TPG Capital – Avantha Group, headed by Gautam Thapar, is in talks with private equity investor TPG Capital to raise around Rs 1,250 crore through a structured deal linked to shares of Crompton Greaves. The proposed transaction would neither be a stock sale nor a share pledge but would have a slice of the promoter holding of Crompton Greaves – Avantha Group’s power equipment and consumer durables company – as an underlying. (Economic Times)
CRH To Pick Up 51% In Jaypee Cements – CRH, the $13.7-billion Irish building materials group, is close to picking up 51 per cent stake in Jaiprakash Associates’ cement operations in Gujarat at an enterprise value of about Rs 4,200 crore. The enterprise value of Jaypee Cement Corp, which houses two plants in Sewagram and Wanakbori-each having a capacity of 2.4 million tonnes-includes debt of about Rs 1,800 crore. (Economic Times)
JSW Steel To List Foreign Assets On LSE – Sajjan Jindal-led JSW Steel is planning to consolidate its international operations under one roof and list them on the London Stock Exchange (LSE). The consolidation and then listing on the LSE are likely to happen by the end of the current financial year or thereafter and will depend on market conditions. JSW Netherlands, a wholly-owned subsidiary, is the holding firm of most of the overseas ventures of the Sajjan Jindal-led firm. (Economic Times)
GMR’s Maldives Projects Runds Into Trouble – Indian corporate giant GMR’s $500-million Male airport project has run into rough weather, as Maldives government has temporary halted work on a new terminal building and the company has moved an arbitration court in Singapore over development charges. (Business Standard)
L Capital To Setup Luxury Fashion House – Private equity firm L Capital is in talks with top Indian designers to create an Indian luxury house loosely resembling its parent – the Paris-based world’s biggest maker of luxury goods, LVMH Moet Hennessy Louis Vuitton. The firm is close to signing up Rohit Bal and Sabyasachi Mukherjee along with specialist multi-designer retailer Evoluzione. L Capital plans to invest close to Rs 200 crore in the venture. (Economic Times)
Reliance Capital-Nippon Deal To Come Up Before EPFO On Tuesday – Retirement fund body Employees’ Provident Fund Organisation (EPFO)’s trustees at their meeting on Tuesday will take up for consideration and approval the proposal of Reliance Capital Asset Management Limited (RCAML) to sell 26 per cent stake to Japanese insurance firm Nippon Life. (Business Standard)
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