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News Roundup: Goldman to sell Four Seasons Hotel Bangalore

26 September, 2012

Goldman to sell Four Seasons Hotel Bangalore: Wall Street bellwether Goldman Sachs, the majority owner of India’s second Four Seasons Hotel being developed in Bangalore , has initiated formal talks to sell the project with a price tag topping Rs 800 crore, said two people briefed on the matter. (The Times of India)

Bajaj Electricals scouts for brands with Rs 1,000Cr corpus: Bajaj Electricals Ltd is scouting for acquisition, including brands in electricals and lighting with a corpus of Rs 1,000 crore.“We can go for acquisition worth even Rs 1,000 crore,” Bajaj Electricals Ltd Chairman and Managing Director Shekhar Bajaj told reporters here on the sidelines of the fan makers annual general meeting. (Business Line)

TCS continues to scout for buys: Tata Consultancy Services has no plans to stem any of its hiring plans for the year as it sees a positive outlook ahead for the sector. The country’s top software exporter continues to scout for acquisitions.TCS, according to its annual report, plans to hire about 60,000 freshers in FY13. The company is already in the midst of making campus offers to 43,604 students. (Business Line)

Indigo Partners, Gopinath suspend airline talks: Indian aviation entrepreneur G.R. Gopinath and US-based private equity investor Indigo Partners LLC have suspended talks to start an airline modelled on Ryanair, Europe’s largest budget airline, after the government allowed overseas carriers to invest in Indian airlines, said a person with knowledge of the development. (mint)

Gradiente Infotainment to acquire Hindi general entertainment channel: Media and entertainment company Gradiente Infotainment Ltd is in the process of acquiring a Hindi general entertainment channel as part of its expansion programme.The company is expected to rename and revive the channel so that it goes live by January 2013. (Business Line)

NPCIL, Bhel, Alstom joint venture to be finalised soon: The tripartite joint venture agreement between state-run Bhel, Nuclear Power Corporation of India Ltd (NPCIL) and Alstom of France is likely to be finalised soon. (The Economic Times)

FinMin proposes 12.5% stake sale in RCF; eyes Rs 368Cr: Rashtriya Chemicals and Fertilizers (RCF) is the latest divestment candidate, with finance ministry proposing a 12.5% stake sale via the offer for sale (OFS) route.The finance ministry is looking to raise nearly Rs 368 crore through the RCF stake sale. (moneycontrol.com)

Tanglin Retail to sell shares of Sical Logistics via OFS: The promoter Tanglin Retail Reality Developments is going to sell an aggregate of 1,67,518 equity shares of Sical Logistics via offer for sale (OFS) route on September 26, 2012. As of June 30, 2012, promoter Tanglin Retail Reality Developments Private Limited held 53.13% stake (2,95,39,786 equity shares) in the company, out of which the company has pledged 58.93 lakh shares. (moneycontrol.com)

BHEL Said to Seek $500M Europe Purchase: Corporate India: Bharat Heavy Electricals Ltd. (BHEL), India’s biggest power-equipment maker, may buy a European provider of metro-rail technology for as much as $500 million to help revive profit growth from a three-year low. The company plans to use part of its 67 billion rupees ($1.3 billion) of cash reserves and raise debt to fund the purchase, two people familiar with the plans said. (Bloomberg)

Courtesy: VCCEdge   


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News Roundup: Goldman to sell Four Seasons Hotel Bangalore

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