News Roundup: Bain, KKR vie for 30% stake in Lanco’s power projects

15 April, 2016

Bain, KKR vie for 30% stake in Lanco’s power projects: Lanco Infratech is engaged in talks with private equity firms Bain Capital and Kohlberg Kravis Roberts (KKR) to sell stake in its power business. Lanco has been trying to find a buyer for its power business since the beginning of the year. It had talked about raising around $750 million (Rs 3,892 crore) for a minority stake. This time, the company is known to have put a higher stake on the block — around 30 per cent in some of its generation projects. ()

BT selling $100 mnn stake in Tech Mahindra: BT Group Plc is selling some of its shares in Indian IT services provider Tech Mahindra in a deal that is expected to raise about $100 million, two sources with direct knowledge of the situation said on Wednesday. (Business Standard)

OVL in talks to buy shale gas assets in US, Canada: State-owned Oil and Natural Gas Corp is in talks to buy shale gas assets in US and Canada but the firm’s Iran investments are impeding closure of the deals. ONGC Videsh Ltd, the firm’s overseas investment arm, has zeroed-in on at least couple of shale gas properties in US but has not been able to close the deal due to its investment in countries that Washnigton has imposed economic sanctions on, sources privy to the development said. ()

Sebi clears TV18, Network 18 rights issues: The Securities and Exchange Board of India (Sebi) has issued its observations on the twin-rights issues of TV 18 Broadcast and Network 18 paving way for one of the largest media deals inked earlier this year to be executed. ()

Dr Batra’s to raise Rs 100 cr: Dr Batra’s, the homoeo clinic chain, will be raising Rs 100 crore from private equity players. Most of the funds raised will be spent on the expansion of its new line of business B-Perfect. Part of the funds will also be used for mergers and acquisitions. (Business Line)

Bajaj Finserv to raise Rs 941 crore through rights issue: Diversified finance company Bajaj Finserv today said it plans to raise Rs 941 crore through a rights issue to fund its business growth. Issue of equity shares on a rights basis to its existing equity shareholders would aggregate to Rs 941 crore approximately, Bajaj Finserv said in a filing on the BSE. (Economic Times)

NTT Group keen on more buys in India; keen on turning conservative image: The NTT Group, which bought Mumbai-based Netmagic Solutions early this year, plans to continue shopping. It is interested in buying companies that will propel growth of its IT services segment in India and abroad.  (Economic Times)

Strides promoter eyes medical equipment biz: Arun Kumar, the reclusive millionaire promoter of pharmaceuticals company Strides Arcolab, is now eyeing the medical equipment business, even as he looks to sell the flagship injectables business in Strides Arcolab for about $800 million.

Kumar has acquired a minority stake in Skanray Technologies, a Mysore-based medical devices company that specialises in high-frequency X-ray systems, dental digital X-ray and imaging, cardiology, critical care products and remote health monitoring. (Business Standard)

Rajnikant Patel leaves Indian Commodity Exchange posts: Rajnikant Patel, the man who was responsible for the corporatisation and demutualisation of BSE in 2005, has stepped down from his current post of MD & CEO of Indian Commodity Exchange (ICEX). He joined the exchange in 2009 ever since it commenced operations as India’s fourth national commodity exchange. “I have decided not to involve in the day-to-day affairs of the exchange,” said Patel. (Economic Times)

Leo Puri’s selection as UTI AMC CMD under a cloud as shareholders raise red flag: Some domestic shareholders of UTI AMC have withdrawn their approval to the selection of Leo Puri as chairman & MD, casting a shadow over his proposed appointment and prolonging the uncertainty at the country’s fifth-largest mutual fund, which has been headless for 18 months. (Economic Times)

Deccan Chronicle shares gain 5% on strategic investor hopes: Shares of Deccan Chronicle Holdings Ltd (DCHL) rose 4.72% on Wednesday, extending a rally from its lifetime lows, as investors bet that a strategic investor would emerge soon to rescue the debt-laden publisher from its financial straits. (Live Mint

Courtesy: VCCEdge


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News Roundup: Bain, KKR vie for 30% stake in Lanco’s power projects

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