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News Roundup: BCCL Eyes Majority In Neo Sports, Neo Cricket

17 January, 2012

BCCL Eyes Majority In Neo Sports, Neo Cricket – India’s largest diversified media conglomerate Bennett, Coleman and Co Ltd (BCCL), popularly known as the Times Group, has joined the race to pick up a majority stake in the two sports channels of Nimbus Communications. The two channels — Neo Cricket and Neo Sports — are housed under Neo Sports Broadcast Ltd, a subsidiary of Nimbus. Times Group has also shown preliminary interest in buying out the Hyderabad-based Associated Broadcasting Company Limited (ABCL), which owns several regional language satellite television channels under the TV9 brand. (Business Standard)

PFC May Partner PFC For $1B Fund – Power Finance Corporation (PFC) may partner Edelweiss Financial Services for the $1-billion private equity (PE) fund it plans to establish. The power sector lender is in the final stages of zeroing in on a fund manager. Edelweiss Financial Services is the only one to bid. The fund would be established on a partnership basis, and PFC would own 49 per cent of the fund, while 51 per cent would rest with the partner. (Business Standard) 

Kohler, Su-Kam Form JV – Delhi-based power back up equipment maker Su-Kam Power Systems Ltd and Kohler India Corp, Indian arm of US-based Kohler Corporation, has joined hands to supply, distribute and market the UPS and new business areas like rental power. Under this agreement, Su-Kam Power Systems will market and distribute diesel and gas generators manufactured at the Kohler’s plant in Aurangabad. (Business Standard)

New Silk Route To Invest $300M – Asia-focused private equity (PE) firm New Silk Route (NSR), a growth capital investor that bets on mid-size businesses, is looking to invest as much as $300 million (Rs.1,551 crore) this year, primarily in medical devices firms and restaurant chains. The PE firm has close to $1.4 billion under management and has over $500 million left to invest. In addition, NSR is looking to raise capital for Ascend Telecom Infrastructure Pvt. Ltd, a telecom infrastructure company controlled by it.

Singapore Govt Buys 1.09% In RIL – The Singapore government has acquired a 1.09% stake, worth over Rs 2,500 crore, in the Mukesh Ambani-led Reliance Industries (RIL), according to latest shareholding data from the company. According to this data, as of December 31 last year, the Singapore government had nearly 3.6 crore RIL shares, accounting for the 1.09% stake in the company. At the current price of Rs 713 a piece, these shares are worth about Rs 2,550 crore. (Times of India)

Vodafone Hires Rothschild For IPO – UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans. Rothschild will assist Vodafone to clear the regulatory hurdles, help in price discovery and valuation, restructure the complicated shareholding pattern and even help appoint the book-runners at a later stage. (Times of India)

International Coal Venture Ties Up With London Firm – International Coal Ventures, a consortium of state-run entities created to acquire coal assets abroad, has formed a strategic tie-up with Anglo American, a global leader in mining, for scouting for coking coal properties globally. The move is significant since ICVL, created four years ago, has had little success in making any acquisitions so far. (Economic Times)


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News Roundup: BCCL Eyes Majority In Neo Sports, Neo Cricket

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