Batelco To Offload 30% In S Tel – Bahrain Telecommunications Co. is looking to sell up to 30% of S Tel Pvt. Ltd. and has hired an investment bank to approach potential buyers. Batelco holds 42.7% of S Tel. Batelco, along with a private-equity partner, bought 49% of S Tel for about $225 million in early 2009, a year after the local company got licenses to offer second-generation telephony services. Siva Group is the Indian joint venture partner. (Wall Street Journal)
Piramal’s India Venture To Raise Rs 1,000Cr Fund 2 – Ajay Piramal is set to launch IndiaVenture Fund 2, which like Fund 1 will be focused on healthcare and life sciences. But unlike the first fund, which was Rs 370 crore in size, this one will be between Rs 800-1,000 crore and may also have an overseas portion. IndiaVenture Fund 1 is also in the final stages of investing in a hospital and a company making active pharmaceutical ingredients. (Financial Chronicle)
UK’s BG Group May Buy Stake In ONGC – The Indian unit of Britain’s BG Group is in talks with state-run Oil and Natural Gas Corp (ONGC) to acquire a stake in a gas block off the country’s east coast. ONGC was in talks with BG and Italian oil major ENI to sell up to 30% in the block to help investment of about Rs 35,450 crore ($7.7 billion) to develop the gas field.
Educomp To Sell Stake In Subsidiaries – Educomp Solutions , a publicly listed integrated education company, is planning stake sale of its arm and internal accruals will be enough to redeem the FCCBs. The company will not raise equity capital at this point of time but will look at selling stake in school division. It can also look at selling stake in companies like Vidya Mandir Classes, EuroKids and Gateforum. (Moneycontrol)
KSK Energy To Sell 20% In Singapore Unit – KSK Energy Ventures, a power plant developer, is scouting for strategic and financial partners for KSK Green Energy, its wholly owned Singapore-based renewable power company. The partners are being roped in for setting up about 250 mw wind energy projects at a cost of Rs 1,500 crore. KSK had earlier held talks with the Malaysian billionaire T Anand Krishna, but the efforts could not be concluded. (DNA)
Aurobindo Pharma In JV – Aurobindo Pharma Limited and OJSC Diod, a Russian manufacturer of ecological healthcare equipment and nutrition supplements, have established a 50:50 joint venture (JV) – Aurospharma Company – in Russia to manufacture and sell the pharmaceuticals in the markets of Russia, Belarus and Kazakhstan. (Business Standard)