Infotech Buys Assets of Hyderabad Office Of IDT Inc : Infotech Enterprises has acquired the operational assets of the Hyderabad office of IDT Inc, a US-based entity engaged in the design and sale of semiconductor products, according to its filing with the Bombay Stock Exchange. No other details regarding the transaction were made available.
Turner To Buy NDTV Imagine – Turner International is planning to acquire a controlling stake NDTV Imagine. NDTV Network holds a 72.5% stake in NDTV Imagine, and employees hold another 20%. Film director Karan Johar owns 5% in the company. (Business Standard)
Godrej Properties To Launch IPO On Dec 9 – Godrej Properties would launch its Initial Public Offer (IPO) on December 9. The company is planning to hit the market with an issue of 9.4 million equity shares, which will constitute 13.5% of the post issue paid-up capital of the company. The capital raised will be used in acquiring land for projects, repayment of loans and developing realty projects. (Business Standard)
Emami May Join Race To Acquire UK’s Simple – Emami may join Godrej Consumer Products, Marico and Wipro Consumer Care & Lighting to buy £250 million (over Rs 1,900 crore) UK skincare brand, Simple. With the acquisition, the company will gain foothold in the UK market. Simple’s promoters, a private equity group Duke Street Capital, put the brand on the block recently. (Business Standard)
Maersk To Invest $25 M, Scouts For Acquisition – Maersk India Pvt. Ltd is planning to invest around $25 million (around Rs 120 crore) to set up container depots across the country and is also planning for acquisition in the domestic container transportation system. The company had invested $12 million in 2009 to create container depots. (Business Standard)
L&T Awaits SEBI Nod For DBS Chola MF Acquisition – L&T Finance Ltd is awaiting the approval from SEBI for the acquisition of DBS Cholamandalam Asset Management Company (DCAMC) for a consideration of Rs 45 crore. DBS Chola MF has assets under management of just under Rs 3,000 crore. (Business Line)
GM, SAIC To Team Up For India Drive – General Motors (GM) and its Chinese partner SAIC planing for a 50:50 joint venture for the Indian market. SAIC could buy into GM’s International Operations (GMIO) that now cover all GM business outside North America. Since GM India is a wholly-owned subsidiary of GM and comes under GMIO, it would facilitate a JV in India. (Economic Times)