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News Roundup: DE Shaw To Sell 14% Stake In SIS

09 September, 2011

DE Shaw To Sell 14% In SIS — US-based hedge fund DE Shaw, which has 14% stake in India’s leading security service provider SIS is making an exit. The Sinha family — promoters of SIS Securities — will buy out the hedge fund. The family, which owns around 85% stake in the company, will then sell around 20% stake to private equity players for a substantial fund infusion of Rs 500 crore in a deal valuing the company at Rs 2,500 crore. (Financial Express)

RBI Says Axis Enam Deal Should Be Cash — The Reserve Bank of India has told private lender Axis Bank that the proposed acquisition of Enam’s broking and investment banking businesses has to be an all-cash deal. The Rs 2,067-crore all stock deal, pending since last November, was jointly announced by Axis and Enam, an influential Dalal Street brokerage. Under the original structure, submitted to the RBI a year ago, Axis had proposed it would issue stock to Enam’s founders while a subsidiary of the bank would take over the businesses. (Economic Times)

CSC Plans To Acquire Applabs — Computer Sciences Corporation (CSC), the US-based technology services provider, is planning to acquire AppLabs Technologies Pvt. Ltd. Both the companies are in advanced stage of talks to close the deal. AppLabs Technologies Pvt. Ltd. provides information technology quality management, testing and certification solutions. (Business Line)

Aditya Birla Plans LatAm Acquisitions — Aditya Birla Group is planning to acquire certain Latin American assets of Mexico’s Cemex. The company is already in talks with Brazilian firm Votorantim Group to buy some of their assets located in South America for approximately $1 billion. (ET)

Bharti, TCIL To Ending Hexacom Dispute — Bharti Airtel Ltd and public sector firm Telecommunications Consultants India Ltd (TCIL) may have moved closer to resolving their long-standing differences over the 30% stake held by the state-owned firm in Bharti Hexacom Ltd (BHL), the Rajasthan-based subsidiary of the telecom service provider. Bharti Airtel has agreed to pay a dividend to the company starting this fiscal.

Apollo To Make Partial Exit In BPO — Apollo Hospitals on Thursday said the group would consider reducing its holding in business process outsourcing (BPO) arm, Apollo Health Street, but said it would not exit completely from the venture.The Chennai-headquartered healthcare major along with the rest of promoter group has around 53 per cent stake in Apollo Health Street, while the rest 47 per cent stake is with private investors, including various private equity funds. (Economic Times)

Sistema Shyam Mulls IPO Next Year — Sistema Shyam TeleServices Ltd.’s (SSTL) President Vsevolod Rozanov said Thursday that the Indian government’s new telecommunications policy expected in October would influence its decision on whether to hold an initial public offering in the country.  If the policy is more favorable to the Indian telecoms market than the current policy, the company may set a date for an IPO as soon as six to nine months after the policy is issued. (Fox)

Delta Corp In Talks For Stake Sale — Delta Corp. which owns offshore casinos in Goa, is in talks with some of the largest hotel and casino operators in the world, including the Las Vegas-based MGM Resorts International and Caesars Entertainment, to sell a stake. Caesars and MGM are among more than two international casino owners, which have evinced interest in tying up with Delta. They are currently studying foreign investment, technical collaboration and licensing norms. (Economic Times)

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News Roundup: DE Shaw To Sell 14% Stake In SIS

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