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News Roundup: DLF To Sell Assets Worth Rs 1,800Cr

19 January, 2012

DLF To Sell Assets Worth Rs 1,800Cr – DLF, the country’s biggest real estate firm, will sell a convention centre project in Delhi and its wind power business for about 1,800 crore early next fiscal. The developer, which had a debt of over Rs 22,000 crore at the end of September, is hoping to raise 3,000 crore in the current fiscal and about 3,500 crore in 2012-13 by selling its non-core businesses.(Economic Times)

RIL Arm Buys Stake In Den Networks – Reliance Strategic Investments, a subsidiary of Reliance Industries, has bought a 1.14% stake in DEN Networks, one of the two listed cable distribution companies in India. As RIL has acquired interests in media firms dealing with content, it makes sense for the Mukesh Ambani-controlled group to invest in a distribution network now. (Economic Times)

Ion Exchange Eyes Acquisitions In North, East – Ion Exchange Services, a key player in the water purification and treatment business, is eyeing acquisition of smaller players in the north and eastern parts of the country in order to strengthen its presence across India. India’s total industrial and waste water business, including municipal waste, is said to be around Rs 16,000 crore. Of this, Rs 5,200 crore is industrial water and waste water business. (Business Line)

Suitors Put In Bids For Milestone Capital – Milestone Capital, which manages assets worth over $800 million, has attracted six to seven bids from potential suitors after being put on the block following its promoter’s death in a freak accident last year. Religare Enterprises, Ashmore Investment Management, Edelweiss Capital and Dewan Housing Finance are among the potential acquirers who submitted bids on January 16, the last day for filing the same. L&T Finance and Tata Capital, two prominent bidders rumoured to be interested, did not file bids. (Times of India)


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News Roundup: DLF To Sell Assets Worth Rs 1,800Cr

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