CX Partners Investing Rs 500Cr In SIS – CX Partners is close to investing about Rs 500 crore in private security firm Security and Intelligent Services (India). The transaction is expected to be made in two tranches of about Rs 250 crore each. The transaction will include CX Partners buying out global investment firm DE Shaw’s minority stake in the Delhi-based security firm. The New York-headquartered hedge fund had invested less than Rs 50 crore in early 2008, for a 14% stake in SIS. (Economic Times)
Kingfisher Promoter To Sell Mumbai, Goa Properties – Lenders to the cash-strapped Kingfisher Airlines Ltd have asked its promoters to sell some of their non-core assets, including Kingfisher House in Mumbai and a Goa villa belonging to the carrier’s Chairman, Vijay Mallya, for repayment of dues. Kingfisher has debts worth Rs 7,000 crore and is facing an acute cash crunch. (Business Standard)
Aditya Birla Group To Buy Canada’s Terrace Bay Pulp – The Aditya Birla Group on Thursday signed an in-principle agreement to buy the assets of Ontario-based Terrace Bay Pulp Mill for Rs 605 crore ($110 million). The acquisition would be carried out through AV Terrace Bay (Canada), a special purpose vehicle in which two group companies, Grasim Industries and Thailand-based Thai Rayon Public, would hold stake. (Business Standard)
CCCL To Raise $100M In Equity – The Consolidated Construction Consortium Ltd (CCCL), which is into engineering, procurement and construction (EPC) and project management operations, has received approval from shareholders to raise funds up to $100 million through various means. Last year, CCCL had set up a separate company, CCCL Power infrastructure Company, to carry out EPC projects in the power infrastructure segment. (Business Standard)
Sagar Ratna Promoter To Launch North Indian Restaurants – Jayaram Banan, founder of south Indian restaurant chains Sagar Ratna and Swagath, is starting a restaurant chain offering north Indian vegetarian cuisine for consumers who don’t eat onion and garlic. Banan, who is a minority shareholder in Sagar Ratna Restaurants after having sold the business to private equity fund Indian Equity Partners in August last for Rs 180 crore, will name the new chain Shraman. (Economic Times)
Kavveri Tele Keen On Buys In In-Building Wireless Solutions – Telecom equipment provider Kavveri Telecom is scouting for acquisitions in the in-building wireless solutions space. In-building wireless solutions (IBS) refers to a telecom network and base station installed inside buildings to make sure mobile signals are not lost within buildings, particularly in areas like the basement and higher floors. The company is working on its first acquisition in the segment with a US-based IBS products and services provider. (Business Line)
ONGC To Sell 35% In CBM Blocks – Oil and Natural Gas Corporation (ONGC) has decided to sell around 35 per cent of its stake in four of its coal-bed methane (CBM) blocks. The state-run company will offload its stake to the bidders for a certain financial consideration and production sharing at a later stage. (Business Standard)
M&M May Bid For Hawker Beechcraft – Mahindra & Mahindra, India’s biggest tractor and utility vehicle maker, may be considering a bid for Hawker Beechcraft, the bankrupt aircraft maker. Hawker Beechcraft, part owned by Goldman Sachs Group, is on the selling block and the agency said that the Indian automobile firm with manufacturing interests in turbo prop aircrafts may be a likely suitor. (Economic Times)
Videocon In Talks To Sell DTH Biz – Television and fridge maker Videocon Industries, with interests in oil and energy, is planning to sell its direct-to-home (DTH) business Videocon d2h to one of its rivals, signalling a consolidation among six DTH operators. Videocon d2h, the last to enter this business in July 2009, competes with Dish TV, Tata Sky, Airtel Digital TV and Reliance Digital TV. (Financial Express)
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