By 18 July, 2012

Equis Funds In Talks For Stake In Bhilwara Energy - Singapore’s Equis Funds Group is in advanced talks with the Ravi Jhunjhunwala-promoted LNJ Bhilwara Group for acquiring stake in Bhilwara Energy Ltd, both at the holding company level and for individual projects. Apart from having a hydel power project portfolio of 2,399 megawatts (MW), the group also has a presence in wind energy. Bhilwara is backed by FE Clean Energy, IFC and New York Life Investment Management. (Mint)

Ronnie Screwvala In Talks To Invest In Zovi, SherSingh & YepMe - Serial entrepreneur Ronnie Screwvala's new holding company Unilazer Ventures, with a Rs 1,000 crore corpus, is discussing growth investments in online fashion brands Zovi, YepMe and SherSingh, among others. The VC-backed start-ups are mostly focused on creating affordable private labels online in fashion and accessories. (Times of India)

DLF, Lodha Near Agreement On Mumbai Mill Land - DLF, India's biggest real estate firm, which is looking to offload its non-core assets to pare debt, has reached an understanding with the Lodha Group to jointly develop its 17-acre Mumbai Textile mill plot. The exact terms of the profit-sharing agreement will be finalized in a fortnight. Lodha along with a US-based private equity fund had earlier offered to pay DLF Rs 2,900 crore for the plot. (Times of India)

Jindal Steel In Talks With Canadian Co For Stake - The Naveen Jindal-controlled Jindal Steel & Power is close to acquiring a controlling stake in a Canada's CIC Energy, the owner of large undeveloped coal assets in Botswana, Africa. The deal, which could be valued upward of Rs 1,000 crore at current rates, will give the Delhi-based metals and utility major control over potential reserves of about 2.4 billion tonnes of high grade thermal coal. (Times of India)

Tamilnad Mercantile Bank IPO Soon - Tamilnad Mercantile Bank (TMB) expects to go for an initial public offering (IPO) soon. However, its timing can only be decided once the court tells the annual general meet date. The lender is planning to seek shareholders' approval for the IPO at the meet. The legal tangle is due to a fight over management control between Sivanthi Adityan and brother Ramachandran Adityan. (Business Standard)

Infosys Backs Out Of European Acquisition - Infosys came tantalisingly close to a European acquisition last month but developed cold feet at the last minute. In June Infosys was just days away from announcing the acquisition of Belgian payment solutions firm Clear2Pay for around half-a-billion dollars (Rs 2,700 crore). A possible dispute over valuation arose at the last minute, making Infosys balk and abandon the deal. (Economic Times)

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