Carlyle, IDG Ventures May Invest $25M In Happiest Minds – The Carlyle Group and IDG Ventures, among the top notch PE/VC players globally, are understood to be in the final lap to invest as much as $25 million in Ashok Soota’s new software exports company Happiest Minds. Soota quit MindTree Ltd early this year which he co-founded nearly a decade ago. Soota has over the last few months raised around Rs 130 crore by offloading a majority of his holding in MindTree Ltd to Coffee Day Holdings chairman V G Siddhartha, an existing investor in MindTree. (Business Standard)
Shree Renuka May Sell 25% In Brazilian Holding Co – India’s largest sugar refiner Shree Renuka Sugars is in talks with several private equity companies and strategic investors to sell 25% stake to retire debt in its wholly-owned company Renuka Brasil Holdings, through which it owns two sugar companies in Brazil. About 50% of the company’s revenue comes from its Brazilian subsidiaries. The Brazilian holding company acquired the two sugar refiners for $332 million. (Economic Times)
Amit Burman’s Lite Bite Foods Eyes BJN – Dabur India’s Amit Burman is keen to buy out Mumbai-based BJN Foods. However, while BJN promoters value the company at around Rs 300 crore, Burman wants to pay less since he feels the company is over-leveraged. Burman is looking at buying BJN Foods through his personal venture, Lite Bite Foods. BJN fits perfectly into Burman’s food business as the former owns over 40 multi-format restaurants across India including Firangi Pani and Angeethee. (Financial Express)
Lenders Attempt To Merge Gangotri Textiles – Lenders are trying to get the Coimbatore-based Gangotri Textiles Ltd to merge with a larger firm in an effort to recover the Rs 345 crore that the company owes them.
Future Generali In Talks To Buy Parel Building – Future Generali Life and General Insurance companies are in talks to buy FCH House-a three storeyed office building within Peninsula Corporate Park in Lower Parel. The value of the property is expected to be in the range of around Rs 130 crore which translates to a price of around Rs 30,000 per square foot. FCH House is occupied by Future Capital Holdings, which is a part of the Future Group which has promoted Future Generali Life and General Insurance along with the Italian insurance giant Generali. (Times of India)
Jaypee May Rope In Partner For Cement Biz – Jaiprakash Associates (JPA), the Jaypee Group flagship, is exploring the option of roping in a strategic partner for its cement business, the third largest in the country. JPA is open to diluting up to 26 per cent in the business. Preliminary talks have already begun with large South America conglomerates such as Cemex and Votorantim Group, who have a global presence but are also looking at a bigger India play. (Business Standard)