Capital International Eyes $100M Stake In L&T Finance – Capital International is leading the race to invest Rs 400 crore, or roughly $100 million, for less than 5% stake in L&T Finance Holdings, which is set for an initial public offering (IPO) possibly within three months. L&T Finance, a subsidiary of the $10-billion engineering and construction giant Larsen & Toubro, wants to raise Rs 1,700 crore from the public issue as early as July. L&T Finance is looking at Rs 10,000 crore market capitalization at the time of listing. It plans to divest around 15% stake. (Times of India)
Cognizant, Capgemini In Talks For Oracle Arm – Cognizant Technology Solutions and Capgemini are among the bidders in talks to buy Oracle’s India-based financial services business unit. Credit Suisse, which is advising Oracle through its New York office for this transaction, is learnt to have approached only a handful of bidders for a potential deal. Oracle is also reported to have scaled down its original expectation of around $400-500 million for the services business, which includes software services and business process outsourcing. (Economic Times)
Apax Close To Investing $150M In Jyothy – Private equity giant Apax Partners moved closer to a deal with Jyothy Laboratories (JLL), which now owns Henkel India, following talks with the promoter management last week. Apax was broadly in agreement with the asking price of Rs 330 per share and discussed the possibility of bringing along a top FMCG industry chief executive to turnaround the troubled Henkel unit, who would also spearhead the company’s next growth phase. Apax has been in contention with other private equity funds to buy around 26% stake for $150 million. (Times of India)
Louis Vuitton To Sell Puducherry Unit – Four years after choosing Puducherry for its first manufacturing plant in Asia, French luxury goods giant Louis Vuitton has decided to sell its Indian unit to a Chennai-based firm. Part of the euro 20 billion Moet Hennessy Louis Vuitton group, the French company’s Indian back office subsidiary is known as Les Ateliers De Pondicherry (LADP). The new owners of LADP are likely to be Leather Crafts India. (Times of India)
Gayatri To Sell Stake In Unit – Hyderabad-based Gayatri Projects will bring onboard Megha Engineering & Infrastructures (MEIL) to execute a Rs 2,200 crore state highway project in Andhra Pradesh. Gayatri holds 74% and realty developer DLF 26% in the project to build a 207km stretch between Hyderabad and Ramagundam. Gayatri and DLF together would hold 52% of the equity and the balance 48% would be offered to the partner. (DNA)
SunCoke To Buy 26% In Global Coke – SunCoke Energy Inc, the largest independent producer of metallurgical coke in the US, is in talks with domestic met coke maker Global Coke Ltd for picking up about 26% equity stake in the latter for $30 million. The deal, if it fructifies, would be valuing Global Coke, which would soon have a capacity of 50,000 tonne of metallurgical coke a month, at a little over $115 million. (DNA)
Emami Eyes Paras Brands – Emami Ltd, the homegrown fast moving consumer goods company, is looking to buy some of the brands of Paras Pharmaceuticals that have been put up for sale by Reckitt Benckiser, which bought the company last year. Emami is interested in Paras’ personal care brands. Emami is also looking at a possible venture in packaged foods business and launching premium range of toiletries. (DNA)
MCX IPO To Raise 750Cr – Multi Commodity Exchange of India is all set to raise Rs 700-750 crore from the capital market with its proposed initial public offering. Six institutions will cumulatively offer 12.60 per cent stake for sale through the IPO, which is yet to be cleared by the market regulator SEBI. The lead promoter Financial Technologies has to reduce its stake to 26 per cent from 31 per cent before September to meet the regulatory guidelines. (Business Line)
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