Bessemer, Others In Talks For Snapdeal.com Stake - Bessemer Venture Partners, Nexus Venture Partners and Indo-US Venture Partners are in advanced talks to invest Rs 200 crore in Jasper Innovative Marketing Solutions, the owner of the group buying site snapdeal.com. The deal values the firm at about Rs 1,000 crore. A part of the money will be used to recruit executives and another part to offer new products to customers. Nexus and Indo-US invested about $12 million in a deal reported in January this year. (Economic Times)
BLR Logistics Looks At A Sellout - Reliance Capital-backed BLR Logistiks has begun discussions with potential strategic partners to explore either an outright sale or a strategic sale of equity to a larger peer. BLR Logistics has engaged Deloitte as financial advisor for this purpose. Reliance Capital has 31% equity stake in BLR Logistics, which does turnover of Rs. 250 crore, as per its website information. (Economic Times)
Shiv Nadar May Buy Into DLF Pramerica - The Shiv Nadar-controlled HCL Group is in advanced discussions with real estate major DLF to acquire a substantial stake in DLF Pramerica Life Insurance Company Limited, for around Rs.450 crore in a two-phase transaction. The HCL group company will first acquire a 44% stake in the insurance joint venture by buying fresh shares of the company and at a later stage, buy out DLF's residual 30% stake in the company, subject to approval of regulator Irda. (Economic Times)
Kohinoor Gets Shareholder Approval For McCormik Deal - Rice exporter Kohinoor Foods (KFL) today said the shareholders of the company had approved its joint venture (JV) with US-based spice maker McCormick. Earlier on June 2, KFL had said it would enter into a JV — Kohinoor Speciality Foods India — with McCormick, which will invest $115 million (about Rs 516 crore) for 85% stake in the JV. (Business Standard)
Sabero Adds Coromandel Directors On Board - Sabero Organics Gujarat has inducted board members from Murugappa group's fertiliser company Coromandel International Ltd as additional directors on its board. (Business Standard)
Aetna Buys Indian Health Organisation - American health insurance company Aetna International today said it has completed acquisition of Indian Health Organisation (IHO) for an undisclosed amount, marking its foray into the Indian market. IHO will operate as a separate business within Aetna International, under its existing leadership structure, reporting to the Southeast Asia region. (Business Standard)
