News Roundup: Axiata eyes Idea tower biz for transnational tower company


  • 07 Jun 2012

Axiata Eyes Idea Tower Biz For Transnational Tower Co - Malaysian telecom giant Axiata Group has approached Aditya Birla group-owned Idea Cellular to build a transnational tower company, with operations across Southeast Asian markets. Axiata wants to acquire or merge more than 8,000 towers of the Indian mobile operator as it looks to create a unified tower entity with a presence in seven nations. Idea's towers could be valued at about $600 million. (Times of India)

Indiareit Raises Rs 250Cr Redevelopment Fund - Ajay Piramal-backed Indiareit Fund Advisors Pvt. Ltd has raised a Rs. 250 crore fund that will invest solely in redevelopment projects of slums, old housing societies and cessed buildings in Mumbai. It will raise another Rs. 200-250 crore before closing the fund in a couple of months. The fund was raised over the past two months largely from individual investors in Mumbai, Delhi and other large cities. (Mint)

Samara Capital Invests Rs 180Cr In Monte Carlo - India-focussed private equity firm Samara Capital is close to investing Rs 180 crore in Ludhiana-based apparel retailer Monte Carlo Fashions. Monte Carlo, which is part of Punjab-based Nahar Group, will sell 20% for the consideration, valuing the 26-year-old brand known for its woollen wear at Rs 1,000 crore. (Economic Times)


Everstone Eyes Bangalore Logistics Firm - Everstone Capital is understood to be aggressively looking to expand its portfolio in the logistics segment. It has recently concluded a due-diligence exercise on the Bangalore-heaquartered AS Group of Companies, one of the largest warehousing service providers for a range of consumer goods companies such as Hindustan Unilever, Britannia, ITC, Nestle and Pepsi. Everstone may be looking at a $50-million (about Rs 277 crore) investment in the AS Group. (Business Standard)

West Coat Paper Puts Unit On The Block - West Coast Paper, India's second-largest paper maker by capacity, has put its newsprint unit on the block as falling prices and cheaper imports take a toll on the industry already crimped by a tight raw material situation. Rama Newsprint & Paper, the 150,000-tonne, Rs 500-crore Mumbai-based company, which was acquired by West Coast in 2003, has been making losses and losing market share. (Economic Times)

Apollo To Buy Partner Out Of Bangalore Project - Apollo Hospitals Enterprise Ltd will buy out partner Imperial Hospital’s stake in a Bangalore hospital-cum-research facility for around Rs 100 crore. Apollo has already increased its stake to 90 per cent in the Imperial Hospital and Research Centre, and the acquisition will be completed in three years. (Business Standard)


Sequoia Capital Set To Exit CCD With 18% Returns - Sequoia Capital India Pvt Ltd is planning a healthy exit from one of its earlier investments — Amalgamated Bean Coffee Trading Co Ltd, an arm of Coffee Day Group that runs the flagship coffee retailing chain, Café Coffee Day. The PE fund may sell most of its stake with returns in the range of 16-18 per cent on its investment, made in two tranches of $10 million each in 2006 and 2007. (Business Standard)

Taproot In Sale Talks With Dentsu, Omnicon - Taproot, the five-year-old independent Indian agency, is in negotiations for a sale with the Omnicom group, Publicis and Dentsu. Taproot's co-founders Dias and Santosh Padhi are testing the market and checking out valuations though this may not tantamount to an immediate sale. (Economic Times)

BPCL, HPCL TO Buy Stake In Swan Energy Unit - BPCL and HPCL are likely to pick a strategic stake in a subsidiary of Mumbai-based Swan Energy Ltd. The state-owned oil majors are likely to acquire a 26-49 percent stake in Swan's LNG terminal valued at Rs 2,500 crore. The Mumbai-based company plans to hive off its LNG terminal to an SPV before the deal. (Economic Times)


HRH Heritage Eyes PE Funding - Arvind Singh Mewar of Udaipur's erstwhile royal family, who runs heritage hotels chain HRH Group of Hotels, plans to raise Rs 150 crore to expand its capacity in the mid-market segment.HRH Group will double the number of rooms in its properties in the next two-three years. The company is looking to expand with private equity investment, debt and internal accruals. (Times of India)

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