Blackstone-Carlyle To Bid For Reliance Infratel – Private equity giants Blackstone and Carlyle Group have jointly expressed interest to bid for Reliance Communications Ltd’s tower business with the potential investors holding initial due diligence that may value the enterprise at about $4 billion. Reliance Infratel, which owns at least 50,000 towers, may also get a competing bid from another private equity consortium consisting Apax Partners and Advent International. (Times of India)
TPG Capital, Farallon In Talks To Buy GTL Infra – GTL Infra is attracting interest from international private equity players like TPG Capital and Farallon Capital. Viom has in the past also shown interest in buying GTL Infra. Expected valuation for the company is around Rs 10,500 crores from the sell side but suitors find it expensive considering that there are more telecom towers which are up for sale like Reliance Infratel. (Economic Times)
Vivimed Labs In Talks To Buy Spain’s Uquifa – Hyderabad-based speciality chemicals manufacturer Vivimed Labs Ltd is in talks to buy Uquifa SA of Spain for $55 million (around Rs.263 crore). The acquisition will be financed through debt the company plans to raise from Export-Import Bank of India (Exim Bank). Vivimed has been growing its international business through acquisitions.
GVK To Sell Stake In Singapore Unit – GVK Group today said it plans to raise around $1 billion by selling a part of its stake in its Singapore-based subsidiary to fund its $1.26-billion acquisition of assets of Australia’s Hancock Coal. It is looking to divest its stake in GVK Coal Developers (Singapore) but it will not go down less than 51 per cent GVK Power & Infrastructure, the listed arm of GVK Group, had said on Friday it would buy coal assets and related logistics in Australia from Hancock for USD 1.26 billion through a group company GVK Coal Developers (Singapore). (Moneycontrol)
Subex CEO May Announce Stake Sale – There was a buzz around software product firm Subex on Monday after the firm said that the company MD and CEO Subash Menon would make an “important corporate announcement” on Tuesday. The firm, which sells fraud management software product to telcos among other products, has been in the middle of stake sale rumours since April this year. Market watchers and analysts, however, said that Subex is trying to raise funds and a minority stake sale could be on the cards. (Financial Express)
Alfa Laval Hits 52-Week High On Delisting – Shares of Alfa Laval (India) gained nearly 20 per cent on Monday after the company said its Swedish parent wanted to buy the remaining 11.23 per cent stake from public shareholders and delist shares from Indian bourses. The company’s stock opened at Rs 2,160 on the Bombay Stock Exchange (BSE) and touched an all-time high of Rs 2,357.80 during the day’s trade. (Business Standard)
RDB Rasayans To Raise Rs 32cr From IPO – RDB Rasayans, a packaging material manufacturer, plans to enter the capital market on September 21 with an IPO of Rs 32-35 crore. The price band has been fixed at Rs. 72-79 per share. The IPO will open on September 21 and close on September 23. The proceeds of the issue will be utilised for financing the capital expenditure to enhance the production facilities of the company along with meeting general corporate purposes. (Business Line)
Mahindra Satyam Plans JV – Mahindra Satyam, the erstwhile Satyam Computer Services, is exploring a strategic alliance or a joint venture with a Chinese partner to expand its presence in the world’s second largest economy. Indian information technology provider is looking at mid-sized Chinese firms having expertise in engineering and manufacturing, as Mahindra Satyam has strong capabilities in the engineering space in China. (Business Standard)