Cognizant In Talks To Acquire Genpact – Cognizant Technology Solutions is doing due diligence of BPO leader Genpact to acquire a controlling stake for close to a month. Cognizant started due diligence of Genpact few weeks ago. Investors in Genpact may be looking for a 30% premium over its market value. BPO constitutes about 5% of Cognizant’s revenues. (Financial Express)
TCS Acquires Supervalu Unit – Tata Consultancy Services is acquiring the Indian captive unit of supermarket chain Supervalu Inc. The unit handles information technology and corporate services Supervalu. It has about 600 of its employees currently working in its India unit will become part of Mumbai-based TCS. The sale is expected to be completed by October.
Tata Steel To Acquire 80% In Canadian Firm – Tata Steel will acquire 80% stake in an iron ore mining project in Canada for about Rs 1,350 crore. The Direct Shipping Ore (DSO) project is owned by Canada-based New Millennium Capital Corp, in which Tata Steel holds 27.4% stake. (Economic Times)
Anand Rathi, Knight Frank To Raise Rs 250Cr Realty Fund – Anad Rathi Financial Services and real estate advisory firm are planning to raise a Rs 205 crore real estate fund, with an option to add another Rs 100 crore. Anand Rathi has tied up with Knight Frank to provide exclusive financial advisory on the rental yield based fund, which will target commercial properties. The fund is targeting an IRR of 18% and has raised Rs 160 crore with first close expected next month.
Reliance, Adani, GMR In Fray For Australian Coal Mine – Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia with the asset valuation at $1 billion (Rs 4,600 crore). The mine may have reserves of 280-300 million tonnes and is unique as it comes with an operating power plant of 500 Mw. (Business Standard)
RPG Firm Acquires 10% In Coal Mine – The RPG Group-promoted Integrated Coal Mining Ltd, an affiliate company of power producer CESC Ltd, has acquired 10% stake in Resource Generation (RG), an Australian coal mining company, for $10.5 million (Rs 45 crore). Integrated Coal Mining will purchase a million tonnes of thermal coal per annum for three years and two million tonnes per annum for a further 17 years from RG’s Boikarabelo mine in South Africa. (BS)
Lavasa Files For Rs 2,000Cr IPO, Eyes Pre-IPO Placement – Lavasa Corporation plans to raise Rs 2,000 crore through an initial share sale by November to fund construction of a township near Pune in Maharashtra. The IPO intends to sell fresh shares amounting to 10% of the post-issue equity capital. Lavasa may go for pre-IPO placement of shares, depending on market sentiment. (ET)
Religare Caps Appoints Abrar Mir To Head Healthcare I-banking – Religare Capital Markets has appointed Abrar Mir, who is currently based in London, as global head of healthcare investment banking. Mir has over twenty years of experience in healthcare investment banking and private equity. He founded and acted as managing partner for NBD Sana Capital, which is one of the largest Shari’a compliant private equity funds in the Middle East. (ET)
Orbit In Talks With PE For Kilachand Property – Realty firm Orbit Corporation is planning to sell a stake in its development at Kilachand house, a prime piece of land at Nepean Sea Road in Mumbai, to private equity funds. Orbit acquired approximately 50% of the stake in the property and is negotiating for the balance 50%. Its in talks with private equity (PE) players where they would be pumping in the money for the acquisition of the balance 50% stake. (Moneycontrol)