CDC Group would purchase a significant minority stake in UTI Capital backed unlisted freight terminal maker Pristine Logistics and Infrastructure for Rs 200 crore ($32.21 million), the third direct investment by the British fund in India, two people with direct knowledge of the development said. The company would use the money to construct private freight terminals (PFT) in trade-heavy belts such as Indore, Ludhiana and Patna. In 2011, local PE fund UTI Capital invested Rs 60 crore in Delhi-based Pristine Logistics & Infraprojects, which builds inland container depots and private freight terminals under public-private partnership scheme for Indian Railways. () 

After Elder deal, Torrent Pharma open to more buys: The acquisition of the domestic business of debt-ridden Elder Pharma last month could be a new beginning for the Ahmedabad-based drug major Torrent Pharmaceuticals. The company has indicated it is open to more acquisitions in the future, both in domestic and overseas market, according to sources. The recent deal gave Torrent access to new therapeutic areas where it was looking at expanding its presence. Pain and wound management and nutraceuticals are areas that Torrent has identified for organic entry in the coming one to two years. (Business Standard) 

Blackstone gearing up for third crucial exit in India: The Blackstone Group, among the top private equity funds globally, is understood to be readying for its third important exit from a slew of poor performing bets in India. The fund is scripting its exit from Fino PayTech, India's largest business correspondent services provider. This move to exit Fino PayTech comes hardly a few weeks after Blackstone signed a healthy deal to exit Emcure Pharmaceutical for Rs 650 crore in favour of another global private equity player Bain Capital. Blackstone is understood to have mandated a boutique investment bank to find buyers for its stake in Fino and is understood to be looking at at least Rs 250 crore ($40.3 million) to exit. Blackstone had invested Rs 150 crore in 2011 for a 21% stake. (Business Standard) 

India Infoline may exit 2nd Sri Lankan subsidiary: India Infoline Ltd (IIFL) is exploring the possibility of exiting its second Sri Lankan subsidiary, IIFL Capital Ceylon. This would be in addition to the planned exit from IIFL Securities Ceylon, announced on January 6. Discussions are on. The stake sale may be to the local partner in the country, said sources. The company plans to complete the brokerage sale by the end of the current financial year. (Business Standard) 

Firstcry among e-tailers making offline push: Online babycare products retailer, Firstcry is close to raising around $15 million (Rs 93 crore) from Singaporean sovereign fund Temasek's subsidiary Vertex Venture Holding with plans to shore up its offline presence, said people familiar with the development. The investment will also mark the entry of Temasek's unit in to the domestic e-commerce market touching $1 billion in annual shipments. The Pune-based Brainbees Solutions runs Firstcry.com and Goodlife.com, an online retailer of health and wellness products with IDG Ventures and SAIF Partners as existing investors. (The Economic Times)

Courtesy: VCCEdge

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