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News Roundup: HCL Infosystems open to selling ‘Me’ brand if good price offered

13 September, 2012

HCL Infosystems open to selling ‘Me’ brand if good price offered: Days after denying that it was selling its hardware unit to Chinese computer maker Lenovo, information technology company HCL Infosystems said it will sell the unit if the price is right. HCL’s hardware business, where it sells laptops and tablets under the ‘Me’ brand, is worth about Rs 1,500 crore. (Economic Times)

GPPC invites EOI for upto 49% stake sale: The state-run ‘GSPC Pipavav Power Company Ltd’ (GPPC) has invited Expression of Interest (EOI) for upto 49% stake sale. The company has appointed SBI Capital Markets as financial adviser to solicit equity participation. “GPPC invites proposal for equity investment in the company, a two-stage process of EOI and Request for Proposal….SBICAP solicits EOI from interested parties for purchase of susbtantial minority stake (to the extent of 49%),” reads the company’s tender notice. (Moneycontrol)

ASK Group to launch $ 200M offshore realty fund next month: ASK Property Investment Advisors, the property fund arm of ASK Group, plans to launch $ 200 million (Rs 1,100 crore) international real estate fund next month. The fund plans to do initial closure in March 2013 and final closure in 12 months after that, said Sunil Rohokale, CEO and managing director, ASK Investment Holdings. (Business Standard)

Peepul Capital may invest up to Rs 1,000Cr in DC: Peepul Capital LLC, a Hyderabad-based private equity fund, is likely to invest anywhere between Rs 500 crore and Rs 1,000 crore in debt-ridden Deccan Chronicle Holdings Limited (DCHL), which publishes English newspapers Deccan Chronicle, Financial Chronicle and Asian Age, and Telugu daily Andhra Bhoomi, according to people privy to the development. (Business Standard)

Infra companies keen to sell assets, but buyers are in no hurry: With most infrastructure companies keen to divest stake in assets to trim debt and reduce equity exposure, it has become a buyers’ market. L&T, GVK, GMR, IVRCL, NCC, Lanco Infratech and Madhucon have expressed their intention to divest stake in some of their matured build, operate and transfer mode assets. (Business Line)

Shilpi Cables set to merge with Microqual in all-stock deal: Radio frequency cable maker Shilpi Cables Technologies is merging with telecom infrastructure provider Microqual in an all-stock deal aimed at cutting costs and improving productivity, persons with knowledge of the development said. The board of listed Shilpi Cables is due to approve the merger proposal on Thursday, two top executives told ET.  (Economic Times)

DCHL bankruptcy threat: PVP Ventures in fray to buy IPL team Deccan Chargers: A little-known businessman who recently produced a blockbuster movie with a housefly as the central character has emerged as a surprise bidder for Deccan Chargers, the Indian Premier League team put up for sale by the cash-starved media group Deccan Chronicle Holdings.  (Economic Times)

GSPC seeks bids to raise up to Rs 30B via bonds-Sources: Gujarat State Petroleum Corp (GSPC) invites tenders to raise up to Rs 30 billion through the issue of triple tranche bonds, three sources with knowledge of the deal said on Wednesday.The government of Gujarat, along with its public sector undertakings, held over 97 per cent of equity of the company, according to the company’s website. 

RIL may join GAIL in race for Repsol’s LNG assets: Mukesh Ambani-led Reliance Industries (RIL) may submit a non-binding offer to buy the liquefied natural gas (LNG) assets of Spanish energy giant Repsol, with a September 19 deadline for filing bids, said sources briefed on the matter. Repsol’s bankers have approached Indian biggies including RIL to participate in the sale process. (The Times of India)

Amul keen to acquire Delhi Milk Scheme: Dairy major Gujarat Cooperative Milk Marketing Federation (GCMMF) – the parent company of Amul, on Wednesday, expressed its willingness to the agriculture ministry to acquire the Delhi Milk Scheme (DMS), which is a subordinate office of the ministry. While a decision is yet to be arrived, a senior executive at the company told TOI that the government is ready to further discuss the offer. (The Times of India)

Courtesy: VCCEdge  

 


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News Roundup: HCL Infosystems open to selling ‘Me’ brand if good price offered

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