Two years after France's Groupe SEB acquired a 55% stake in Maharaja Whiteline, the multinational and the Indian kitchen appliances maker's erstwhile owner Harish Kumar, are working on a second deal, which involves buying out Kumar and his family's balance 45% equity, three senior industry executives aware of the development said. The move follows disputes between the two groups after Groupe SEB in November 2012 unceremoniously moved chairman and managing director (CMD) Kumar into a non-executive role. Groupe SEB has apparently lowered the valuation of Maharaja Whiteline from the 800 crore it had arrived at during the first deal, as the local company has yet to shape up the way the French firm had expected, the people cited above said. The agreement between Kumar and Groupe SEB for the first deal allows Kumar and his family to sell their balance stake to the French firm after December 2013. (The Times of India) 

Helios & Matheson in talks to raise money through stake sale: Mid-sized information technology (IT) company Helios and Matheson is in talks with a clutch of institutional investors to raise money through a share sale, two sources close to the development said. Helios, which is listed on the US-based Nasdaq, is talking to Abu Dabhi Investment Authority, Morgan Stanley Mauritius, Afrin Dia and India Max Investment Fund to place the shares, the sources said. The company, which may issue warrants or fresh shares equivalent to 20% of its total equity, is looking to acquire US-based technology companies which cater to haltehcare and banking sectors. Helios is said to have appointed two investment banks for the share sale. A nondisclosure agreement may be signed with institutional investors in the next few weeks. Promoters hold a 46% stake in the company. () 

NTT Docomo Said to Sell Stake in Tata Teleservices: NTT Docomo Inc. plans to sell a stake in Tata Teleservices Ltd., according to a person with knowledge of the plans. Japan’s largest wireless carrier by subscribers will announce that it intends to sell a 26.5 percent stake in Tata Teleservices later today, said the person, who asked not to be identified because the information isn’t public. Docomo paid a total of 266.7 billion yen ($2.6 billion) in 2009 and 2011 for the stake. (Bloomberg) 

InterGlobe in talks to exit news cafe business at Delhi Metro: InterGlobe Enterprises, which runs IndiGo airlines, is talking to potential buyers for its Hudson News Café convenience stores at Delhi Metro stations, two people familiar with the negotiations said. “Retail is not its (Interglobe’s) core business,” said one of the two people. “The move is indicative of their exit from retail altogether.” InterGlobe Retail has been looking for a buyer for its retail business started in 2011 with travel retailer Hudson in India through a franchise agreement with Swiss company Dufry AG, owner of the Hudson Group. (Live Mint) 

Shriram Properties plans to raise around Rs 1500 crore equity: Shriram Properties, the real estate arm of the Rs 60,000 crore ($9.8 billion) Shriram Group, is planning to raise around Rs 1,000-1,500 crore($163 million - $245 million) equity. The company is in talks with four PE funds, including the existing investors, and portion of the money will be raised from four investors by end of next month. The attracted around $300 million from around seven PE funds till now. The investors include Walton Street Capital, TPG, Star Wood Capital, Sun Apollo, ICICI Prudential and ASK Property Investment Advisors. (Business Standard)

Courtesy: VCCEdge

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