Carbon Credit Capital To Launch $100M India Fund - US-based Carbon Credit Capital proposes to launch a $100-million India-specific fund this year to invest in renewable energy projects. The firm would start with $100 million this year and will eventually increase it to $500 million. The carbon financing firm will invest in a range of projects across all renewable technologies such as solar and biomass among others. The company is in talks with the US-based private individual investors and International Finance Corporation. (HinduBusinessLine)

Praveen Travels In Talks For Rs 150Cr PE Funding - Parveen Travels (P) Ltd., a company that operates 60 inter-city buses across the four southern states, connecting 55 destinations and carrying 2,000 passengers every day, is poised to convert itself from an operator of bus services to a full-fledged hospitality player. It is planning to set up hotels at three locations in Chennai, and is planning to float a new division for this purpose in 2012-13. The company is in talks with a few private equity funds to mobilise about Rs 150 crore to pay for the diversification. (Business Standard)

India Value Fund Partner Quits, To Launch $250M Fund - George Thomas is quitting as the partner of India Value Fund Advisors (IVFA) to launch a $250-million fund. Thomas plans to quit India Value Fund, which mainly invests in buyout transactions, towards the end of this year. (Economic Times)

Punj Lloyd Buys Stake In Indonesian Mine - Punj Lloyd Ltd said on Monday its Singapore-based subsidiary, Sembawang Engineers and Constructors, has entered an agreement to acquire a 50% stake in a thermal coal mine company in Indonesia. The acquisition will be done through Sembawang Development Pte Ltd, a unit of Sembawang Engineers.  (HinduBusinessLine)

GAIL Close To US Shale Gas Buy - State-run company GAIL may soon buy nearly 20% stake in two shale gas acreages — Eagle Ford shale and Barnett shale — in the US. The deal size could be over Rs 1,000 crore. The Eagle Ford shale is located in multiple destinations in South Texas while Barnett is the largest onshore natural gas field in the US. (Business Standard)

ADAG Eyes Jayajothi - Reliance Cementation, the cement arm of the Anil Ambani Group, is focusing on inorganic opportunities and according to three independent sources, it has zoomed in on the Andhra Pradesh market for a possible acquisition. The company in focus is Sree Jayajothi Cements (SJJC) with whom Reliance Cementation is currently negotiating for a possible purchase. Jayajothi Cements, is part of the diversified Jayajothi Group of Tamil Nadu with revenues in excess of Rs 300 crore. (Business Standard)

Tata Chemicals May Buy 25% In Gabon Urea Plant - Tata Chemicals, the fertiliser manufacturer that finds itself constrained in augmenting urea capacity in India due to gas crunch and land acquisition issues, is investing over Rs1,300 crore to pick up a 25.10% stake in an upcoming urea plant in the South African country of Gabon. The port-based 1.3 million tonnes per annum (mtpa) ammonia-urea complex is being set built by Singapore based agri-food processing company Oram International in collaboration with the Republic of Gabon. (DNA)

Diageo In Talks With Mohan Meakin For JV - Drinks giant Diageo Plc is turning acquisitive in its bid to rediscover India. Senior Diageo officials have met with the patriarch of Mohan Meakin, the country's oldest distiller and makers of Old Monk Rum, to explore opportunities of working together. The world's bestknown spirits company, and the largest by value, would look at an equity arrangement that will also give it marketing and distribution rights of MML's brands. (Times of India)

Ravi Kumar Buys SV Distilleries - Ravi Kumar Distilleries (RKDL), a Chennai-based maker of Indian-made foreign liquor (IMFL), has signed a share purchase agreement for acquisition of 51% of the equity shares of S V Distilleries, based in Karnataka. By this share buy, RKDL will become subsidiary of the RKDL. S V Distilleries has the capacity of producing 60,000 cases of IMFL per month and 40 KL of spirit per day. The total investment outlay for the sharebuy and subsequent expansion will be somewhere near Rs 86 crore. (Financial Express)

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