Ultratech Cement Ltd. (UTCEM), India’s biggest maker of the material, is looking to buy the local assets of Holcim Ltd. (HOLN) and Lafarge SA (LG), according to a person with direct knowledge of the matter. Billionaire Kumar Mangalam Birla, who controls Ultratech, is waiting to see what will be on sale as the two European companies prepare to dispose of plants, the person said. Holcim and Lafarge, which agreed to a merger last month, may divest in Brazil, India, China, Canada and the U.S., Lafarge Chief Executive Officer Bruno Lafont told investors on April 7. (Bloomberg)
Bewakoof.com to raise Rs 25 crore; expand retail presence: Online apparel retailer Bewakoof plans to raise Rs 25 crore ($4.15 million) in the next few months to fund its growth plans as it looks to expand its portfolio online and increase presence across brick-and-mortar retail stores across India. Started by IIT graduates Prabhkiran Singh and Siddharth Munot in 2012, the company already has a presence across 30 standalone retail stores in Mumbai. (The Economic Times)
Qatar Airways eyes stake in no-frills carrier IndiGo: There seems to be growing interest for India’s airlines amongst the Middle East air carriers, with Qatar Airways now eyeing stake in the no-frills carrier IndiGo airline. “We would be very interested in IndiGo if there’s something available there. But the airline is performing very well so I don’t think they would be interested,” Akbar Al Baker, CEO, Qatar Airways, told Reuters. He also said that Qatar Airways may look into buying additional Airbus A380 planes in the future. (DNA)
United Spirits in talks to sell Whyte and Mackay to Malaysia’s Emperador: United Spirits Ltd, controlled by the world’s largest distiller, is holding talks with Philippines’ Emperador Inc. to sell the Whyte & Mackay spirits business. Emperador, a brandy maker that gets almost all its revenue from the Philippines, confirmed on Monday that it’s in talks to buy the Scottish spirits company to expand outside its home market. Diageo had acquired Whyte & Mackay last year when it purchased a controlling interest in its Indian parent, United Spirits. Diageo subsequently offered to sell most of the business to assuage concerns by the UK Office of Fair Trading that the takeover could lead to higher prices in the UK for blended whiskey. The purchase of Whyte & Mackay could move Manila-based Emperador closer to its goal of having a 33% share of the global brandy market in four years. (Live Mint)
Dee Kartavya Finance plans to raise funds: Dee Kartavya Finance Ltd. is planning to raise funds from the Strategic Investors by issue of 75,00,000 equity shares on preferential basis. The Notice to convene the Extra Ordinary General Meeting to be held on May 27, 2014 of the Shareholders of the Company to consider and approve the aforesaid matters. (BSE)
Mitsui, Qatar in race to buy stake in Petronet: Japan’s Mitsui and cash-rich sovereign wealth funds of Qatar, Abu Dhabi and Oman are keen to buy Asian Development Bank’s 5.2% stake in Petronet LNG Ltd, India’s largest natural gas importer. ADB had in 2011 decided to sell its 5.2% stake in Petronet but could not go ahead as promoter PSUs like gas utility GAIL refused to waive off their first right of refusal. ADB in 2011 offered to sell its 39 million shares or 5.2% stake in Petronet. GAIL, Oil and Natural Gas Corp, Indian Oil and Bharat Petroleum, which hold a 12.5% stake each in Petronet, along with GdF of France have the first right of refusal over the ADB stake. (Business Standard)
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