Carlyle, New York Life In Talks To Invest $100M In Everonn – Everonn Education, India’s largest technology-enabled education player, is in advanced talks with Carlyle Group and New York Life Capital Partners to sell a stake. The initial diligence is over and negotiations are underway to formalise the final deal structure, which may see an investment of over Rs 500 crore ($100 million) through a combination of primary and secondary market transactions. Carlyle and New York Life Capital are likely to invest in the listed company – Everonn Education — and may also pick up strategic stakes in the underlying subsidiaries Everonn Medical Education and Everonn Skill Development. (Business Standard)
Lupin Buys Japanese Pharma Firm – Lupin Ltd agreed to buy Tokyo-based I’rom Pharmaceutical Co. Ltd, the Indian drug maker’s second acquisition in Japan, to add new products and strengthen marketing and distribution in Asia’s second largest economy. I’rom Pharmaceutical produces injection-based medicines and had reported sales of 5,361 million yen (around Rs.354 crore) in the year ended 31 March.
RIL Ropes In HCL’s Anand Pillai – Reliance Industries (RIL) has poached Anand Pillai, HCL Technologies’ global head of talent transformation, to be its chief learning officer, a position created by the $52-billion company for the first time to focus on employee training and development as the war for talent escalates and it becomes more active in consumer businesses such as telecom and retail. Pillai will report directly to RIL chairman Mukesh Ambani and will also work closely with Manoj Modi, Ambani’s friend and confidant. (Economic Times)
Sahayata MFI Suspends Top Management – Caspian Advisors-backed Sahayata Microfinance Pvt Ltd has suspended the brass, including its chief executive, on charges of mismanagement. The Rajasthan-based microfinance company has also stopped fresh lending temporarily, to set its house in order. Hyderabad-based Caspian Advisors manages two funds — Bellwether Microfinance Fund and India Financial Inclusion Fund. They make investments in companies working in the financial inclusion space. (Business Standard)
Khazanah Nasional To Invest In Financial Services, Infra – Khazanah Nasional, the sovereign wealth fund of the Malaysian Government, plans to invest in sectors like financial services, infrastructure and energy in India in the near future. The fund house, which has global investments of $35 billion and assets worth $100 billion, is currently working on some deals in these sectors. Khazanah holds stakes in Apollo Hospitals, Idea Cellular, IDFC and Yes Bank in the country. (Business Line)
MedAll Healthcare Eyes Buyouts Hyderabad – Peepul Capital-funded diagnostics services chain, MedAll Healthcare, which has made a string of acquisitions since its inception in 2009, plans to pump in Rs 10-15 crore on buys this year. It is particularly scouting for opportunities in Hyderabad. With eight acquisitions in two years, at a total investment of Rs 60 crore, the inorganic model has been the mainstay of the company, founded by serial entrepreneur and former EDS honcho Raju Venkatraman. MedAll runs 48 diagnostic and blood collection centres in South India. (Business Line)