Fortis Healthcare In Talks With TPG Capital, Carlyle – Fortis Healthcare India Ltd, which runs the country’s second largest hospital chain, is planning to strike a deal with private equity (PE) investors. Ahead of that, the promoters will sell part of their stake in the company through the stock auction route. Fortis Healthcare is in talks with the Carlyle Group and TPG Capital India to sell 15-20%. Fortis could be raising around $250 million through a combination of equity and convertible debt instruments from PE firms. (Mint)
Mallya In Talks To Sell Stake In Alcobev Biz – The world’s largest drinks company Diageo Plc and Dutch brewer Heineken are tracking developments at troubled billionaire Vijay Mallya’s UB Group even as senior officials of his alcoholic beverages conglomerate rubbished talks of share sale to save the debt-laden Kingfisher Airlines. Speculation in recent weeks pointed to Mallya raising $1 billion by offloading shares in the core alcobev business. (Times of India)
Naturals In Talks With PEs For Rs 100Cr – Unisex beauty salon chain Naturals Beauty is looking at raising around Rs 100 crore from private equity and discussions are in an advanced stage. The funds will be utilised to support the company’s plan to expand its number of salons to 1,000 in the next three years and become a Rs 1,000-crore brand. (Business Standard)
IL&FS To Also Sell Stake In Milestone JVs – India’s largest private equity fund IL&FS Investment Managers (IIML), which manages $3.2 billion, will join its partner Milestone Private Equity Advisory to sell its stake in their two joint venture funds, which invest in commercial properties that give rental income. Together they own and managed $229 million two rental income-based real estate funds. (Financial Express)
Tata Mops Up Fund For C&W Bid – Tata Communications is gearing up to bid for UK’s Cable & Wireless Worldwide (C&W) after tying up $2 billion debt to finance the acquisition. The company will have to submit a formal offer by Thursday under the new UK takeover regulations. The company, a unit of the $84 billion Tata Group, may compete with Vodafone Plc to win control of C&W. (Times of India)
GVK, Changi Talks Fall Down – GVK Infrastructure & Power Limited (GVKPIL) & Singapore based – Changi Airport for stake sale in the former’s airport business have broken down. GVKPIL was in exclusive talks with Changi Airport to sell 26% stake in its Airport business. GVKPIL has now initiated talks with financial investors including Actis, 3i & Blackstone. (Economic Times)
Satyam Eyes Buys In Europe – Even as decks are being cleared for its integration with Tech Mahindra, Satyam Computer Services is bracing for acquisitions in Europe and Australia. While the European acquisition would be of an aerospace company, Satyam is hunting for companies Down Under that would align with its areas of operations in Australia. The ticket size of the deals is expected to be $50-150 million. (DNA)
Essel Stake Overtakes Promoters’ In IVRCL – The Subhash Chandra-promoted Essel Group has acquired over 13 per cent stake in the Hyderabad-based infrastructure company IVRCL through open market purchases. And there are pointers that they may hike it further. With this, the Essel Group has two per cent higher stake in IVRCL compared to the promoter and promoter group of the company who hold 11.2 per cent. (Business Line)
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