Gati Ships To Sell Stake To Bernhard Schulte - Hyderabad-based logistics major Gati is in talks with German ship-management company Bernhard Schulte to sell a strategic stake in its loss-making shipping business to raise cash to tide over the financial crisis. Bernhard Schulte will acquire significant stake in Gati's demerged shipping business, Gati Ships. Loss-making Gati Ships, founded in 1989, owns four container vessels, fetching a valuation of close to Rs 200 crore. (Economic Times)

Hard Rock Cafe Franchisee Eyes Rs 150Cr Funding - JSM Corp. Pvt. Ltd, the Indian franchisee for Hard Rock Café, California Pizza Kitchen and Trader Vic’s, is looking at raising Rs.120 crore to Rs.150 crore from private equity investors for expansion. The Mumbai-based company, founded by Jay Singh and Sanjay Mahtani in 2004, has revenues of nearly Rs.150 crore.

HDFC Property Fund Picks Up Stake In Fortuna - Bangalore-based Fortuna Projects India has formed a special purpose vehicle with HDFC Property Fund for two of its projects to be launched in the next few months. HDFC Property Fund has picked up a 21 per cent stake in the SPV, Fortuna Urbanscapes, for Rs 50 crore. The total turnover from two projects is estimated to be Rs 650 crore to Rs 700 crore. (Business Line)

HPCL To Take 11% In KIAL - The country's third-largest state-run fuel retailer Hindustan Petroleum is to take 11% stake in a special purpose vehicle formed with Kerala government participation for building a new international airport at Kannur in the state's northern part. Petroleum is to take the stake on condition that it will have the right to design, develop, operate and maintain all facilities required for refuelling aircraft. (Times of India)

Zenith FCCB Holders Move To Court To Shut Firm - Lenders of business continuity provider Zenith Infotech have moved the Bombay High Court with a plea to liquidate the city-based company to enable the recovery of Rs 450 crore due to them. Bank of New York Mellon, the trustee of these lenders who hold two tranches of FCCBs, moved a winding-up petition after failing in their earlier efforts to recover the dues. (Business Standard)

Tecpro Systems Acquires Eversun - The NSE-listed, Chennai-based company Tecpro Systems Ltd has entered the solar energy space by acquiring a Bangalore-headquartered EPC company, EverSun Energy Pvt Ltd. The Rs 2,000-crore Tecpro is among the major suppliers of ‘balance of plant' equipment for thermal power projects. The acquisition of EverSun marks the company's first step into renewable energy. (Business Line)

Everstone Capital To Invest $200M - Everstone Capital expects to invest as much as $200 million by the end of the year. A few months ago, the firm invested Rs 150 crore in a pesticide company called Crystal Crop Protection. The company which also dabbles in farm equipment, is the market, which Everstone would like to tap going ahead.(Business Standard)

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