Blackstone’s CMS Buys Securitrans For Rs 250Cr – CMS Info Systems, in which private equity firm Blackstone owns 57%, has acquired Securitrans, a cash management firm, in a transaction valued between Rs 200 crore and Rs 250 crore. The deal gives CMS, which already had a leading market share in the cash management business, nearly 55% of the market. CMS had a 40% market share prior to the acquisition. CMS has two lines of business — cash management and IT services. Both are focussed on the domestic market. (Economic Times)
Reuters To Buy 25% In Newswire18 – Thomson Reuters has started discussions with media baron Raghav Bahl to acquire a minority stake in his news agency, NewsWire18 Pvt Ltd. Thomson Reuters, which faces tough competition from rival Bloomberg, has been looking for an inorganic route to expand in India. Reuters is eyeing a 20-25% stake in NewsWire18. Bahl is looking for a valuation of Rs 250 crore for the Indian news agency. (Business Standard)
GVFL’s Infrastructure To Invest 60% In Clean Tech – Venture financing company, Gujarat Venture Finance Limited (GVFL) is set to increase its focus on clean energy projects for funding under its Rs 1000-crore infrastructure fund. GVFL is confident of raising about half of the total fund size by the end of December 2011. A larger part of the fund will go to clean energy projects, besides financing projects for infrastructure development including industrial parks and textile parks. (Business Standard)
Reliance Capital To Buy Majority In Bloomberg UTV – Reliance Capital (R-Cap) is in talks with UTV founder-promoter Ronnie Screwvala to scale up its stake in UTV News Ltd much beyond the 18 per cent it holds at present. UTV News Ltd runs English business channel Bloomberg TV. The company is also open to buying out the entire 66 per cent stake held by Screwvala. (Business Standard)
Founder Duo Exit Ambuja – Three-and-a-half decades after they founded it, Narottam S Sekhsaria and Suresh Kumar Neotia have completely exited as promoters of Ambuja Cements, by selling their 0.79 per cent stake in the company to a unit of Swiss cement major Holcim, the majority owner. The stake sold is valued at Rs 185 crore at on Thursday’s close of Rs 153.65. (Business Standard)
StanChart To Consolidate Private Banking – The Indian unit of Standard Chartered Bank has decided to consolidate its private banking business by relocating some of its relationship managers in centres such as Chennai, Bangalore and Kolkatta to Mumbai and New Delhi after being hit by cases of mis-selling of debt securities, earlier this year. (Economic Times)
Mytrah Arm Raises Rs 960Cr Debt – BinduVayuUrja Pvt Ltd, a wholly owned subsidiary of Mytrah Energy (formerly, Caparo Energy) has secured Rs 960 crore of loan funding. This is by far the single largest debt raising by a wind power producer. Mytrah’s Web site says that BinduVayuUrja has secured funding of $192 million, of which $120 million (Rs 600 crore) has been underwritten by Infrastructure Development Finance Corporation. (Business Line)
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