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News Roundup: DCNS may buy 10% in Pipavav Defence for Rs 800Cr

22 June, 2012

DCNS May Buy 10% Of Pipavav Defence For Rs 800Cr – DCNS, the French defence major is likely to pick up a little less than 10% equity stake in Nikhil Gandhi-promoted Pipavav Defence and Offshore Engineering for about Rs 800 crore. DCNS, which posted revenues to the tune of $3.3 billion last year, is owned by the French government and specialises in manufacturing surface combatants, submarines, systems and equipments. (Economic Times)

Cox & Kings In Talks With PEs For UK Unit Stake Sale – Travel and tour operator Cox & Kings is in talks with some private equity funds such as KKR, Bain Capital, Carlyle and TPG to sell a minority stake in its UK subsidiary and raise about $140 milion. The money will be used to repay debt raised during Cox & Kings’ Rs 2,250-crore acquisition of Holidaybreak Plc, the step-down subsidiary of Cox’s UK holding company, Prometheon Holdings. (Economic Times)

RIL To Sell Textile Business, Including Vimal Brand – Reliance industries (RIL), India’s largest private sector company, has decided to sell its textiles business, including its iconic brand Only Vimal. The Mukesh Ambani-led company has hired NM Rothschild to manage the sale of the business. The textiles business, including a factory at Naroda near Ahmedabad, contributes less than Rs 2,000 crore to the group’s annual turnover of Rs 85,000 crore. (Economic Times)

Xander Group In Talks With Kolkata Golf Course For Realty Foray – Kolkata’s Royal Calcutta Golf Club (RCGC), established in 1829, plans to venture into the realty sector to create a regular source of income to augment operational revenue and garner funds for the club house and course upgrade. The club authorities are already in talks with private equity (PE) firms to sign a joint development agreement for a housing project on five acres. It is already in talks with Xander Group. (Business Standard)

Aegis Looks At $2B Revenues, Promoter Stake Sale By End of Year – Aegis, Essar Group’s information technology and business process outsourcing arm, is targeting organic growth of 26% and revenue of $1.25 billion in 2012-13. It also plans to record revenues of $2 billion by 2014-15. The company believes its promoters would be able to dilute their stake in the company by the end of this financial year. (Business Standard)

Boehringer Ingelheim In Talks For OTC Brand Buyouts – The new entrant in the buyout market for over-the-counter (OTC) brands is one of the largest European players — Boehringer Ingelheim GmbH (BI). The $ 17-billion German drug maker is scouting for acquiring major OTC brands, and has already started early stages of discussions with Indian drug makers. The OTC drug market in India is worth $1.5-2 billion and is growing at 15-16 per cent per annum. (Business Standard)


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News Roundup: DCNS may buy 10% in Pipavav Defence for Rs 800Cr

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