Cognizant in Talks to Buy UK Firm Pa Consulting - Cognizant Technology Solutions is in talks with London-based Pa Consulting for a buyout deal valued at $300-350 million. The preliminary discussions with the privately-held technology-led consulting firm come even as Cognizant is actively scouting for acquisitions in the European market. Cognizant is looking to strengthen its presence in the UK and Continental Europe, from where the company gets 20% of its revenue pegged at $2.89 billion. ()

IPTV Service Provider MyWay in Talks with PE Funds to Raise Rs 150 Crore - Internet Protocol TV service provider MyWay plans to invest about Rs 150 crore in the current fiscal for enhancing its operations and is in talks with private equity players and strategic investors for raising capital to part fund the expansion. The Gurgaon-based company plans to increase its channel offering and introduce new value-added services (VAS) as it eyes a subscriber base of three million users by March 2012. the raised funds would be used towards advertising and promotion, content acquisition (films) and other technology up gradation to acquire more customers. MyWay offers IPTV services in collaboration with MTNL and BSNL across 54 cities, including the metros and tier I cities. ()

Wilbur Ross, Molson Coors In Race for Cobra Beer - US investor Wilbur Ross and brewer Molson Coors have emerged as frontrunner to acquire Cobra Beer, reports Financial Times. The sale process of the beer, which was founded by Lord Bilimoria and is served in Britain curry restaurants, is nearing a close. Cobra has been looking for a buyer since last year and talks with Diageo and SABMiller did not yeild any result. The deal with Molson Coors and Wilbur Ross could lead to a split in the company. Coors could take Cobra’s UK assets, and Wilbur Ross can take over it’s Indian business. Cobra had net sales of £28 million in the UK and £5 million in India. (Financial Times)

IFC Backed $1.7 Billion Funds to Pick Up Equity in Infra Projects - World Bank's private sector lending arm IFC has said the two funds supported by it are ready to pick up equity worth $1.7 billion (Rs 8,500 crore) in infrastructure projects. The funds are expected to generate total investment of $5-8 billion over next three to five years. The funds would be used in picking up equity in the infrastructure sector projects and would be in addition to the regular operations of the IFC. Out of the total $1.7 billion, the IFC has mobilised $1 billion through Macquarie-SBI Infrastructure Fund and $700 million from IDFC-promoted India Infrastructure Fund. IFC has invested a total of $200 million in these two funds. (The Economic Times)

ThyssenKrupp exits Indian Metal Business, Sells Its 74% Stake in JV to Indian Partner - German auto-part maker ThyssenKrupp is exiting the sheet metal business in India by selling its 74% stake in joint venture company ThyssenKrupp JBM (P) to Indian partner JBM Auto for an undisclosed amount. ThyssenKrupp, one of Europe’s largest steel makers, wants to consolidate its operations, and is hence reducing its exposure in the Indian market. ThyssenKrupp will retain its wholly-owned heavy machine making facility at Pune. ThyssenKrupp JBM was formed in 1988 to supply sheet metal used for making car exteriors, mainly to Ford Motor India, as the German company worldwide is one of the largest suppliers of auto-parts to Ford. (The Economic Times)

Speciality Restaurants to Raise Around Rs 200 Crore to Fund Acquisition of Restaurants - Speciality Restaurants, the holding company of restaurant chains, such as Mainland China, Oh! Calcutta and Sigree, is raising between Rs 150 crore and Rs 200 crore to fund the acquisition of a South Indian and Italian fine-dining restaurant chain and to expand its overall presence. The acquisition, which will enable the group to diversify into two new verticals, will be closed in 90 days. The 52-outlet restaurant company will raise the funds through diluting another 10-15% of equity to private equity firm SAIF partners and partly through debt. (The Economic Times)


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