Buyout Funds, Travelex In Race For Thomas Cook India – Thomas Cook had received at least eight proposals from potential buyers, the travel company said on Wednesday, as it closed bids for the sale of its India business. Private equity firms including Kohlberg Kravis Roberts (KKR), Carlyle Group, Everstone Capital, T A Associates, and Actis, are learnt to be in the race. Others include UK-based Travelex, gold financing NBFC Muthoot Finance, China’s HNA Group and Bravia Capital of Hong Kong. (Business Standard)
Tata Power, SN Power In Talks For Sarda Energy’s Project – A consortium comprising Tata Power Co. Ltd and SN Power Norway is in talks to buy a significant stake in a 96 megawatts (MW) hydropower project in Sikkim from Sarda Energy and Minerals Ltd in a transaction valued at about Rs.200 crore. Deloitte Touche Tohmatsu India Pvt. Ltd has been appointed by Sarda Energy to advise it on the stake sale. (Mint)
Lilliput Says Received Offer From L Capital – Beleaguered retail firm Lilliput Kidswear Ltd claims to have found a potential buyer. The New Delhi-based kids wear firm has received a letter of intent from L Capital, the private equity (PE) arm of Louis Vuitton Mot Hennessy, the world’s biggest luxury goods group, to acquire 85-90% stake in the company, along with another investor, for Rs 1,100 crore. Promoter Sanjeev Narula will continue to hold 10-15% stake in Lilliput. (Mint)
Jaiprakash Power To Raise Rs 3,500Cr – Jaiprakash Power Ventures Ltd has planned to raise up to Rs 3,500 crore to fund its expansion projects and is also entering cement manufacturing activity. The funds are to meet the company’s ongoing projects and/or the projects of its joint venture and subsidiary companies as also issuance of further equity shares under institutional placement programme. (Business Line)
MRPL Eyes Mallya’s Mangalore Fertilizers Stake – Mangalore Refinery and Petrochemicals (MRPL), majority owned by state-owned ONGC, has expressed interest to acquire promoter’s stake in Mangalore Chemicals & Fertilizers (MCF). Liquor baron Vijay Mallya’s UB Group holds little over 30% stake in MCF, a non-core investment that may be sold to fund its bleeding Kingfisher Airlines. (Times of India)
Den Networks May Merge With Digicable – The buzz is gaining ground that a merger deal between Digicable and Den Networks is imminent, with talks at an advanced stage. Apparently, private equity firm Ashmore, which controls Digicable, is eager that a deal does indeed take place. The merger, if it does go through, will result in a behemoth with 17 million subscribers nationally. (Indiantelevision)
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