Suzlon In Talks To Sell Gearbox Unit, Hansen - Indian wind turbine major Suzlon Energy Ltd is in talks with a consortium of wind equipment component manufacturers in Belgium, in addition to some leading turbine manufacturers in Europe, such as Vestas, to sell off its gear box manufacturing subsidiary, Hansen Transmission. The company aims to raise about $1 billion from the sale of over 61% stake. Suzlon is evaluating four proposals and the deal could be concluded within a month or two. (Business Standard)
Infosys Looks At Acquisitions Beyond US, Europe - Software major Infosys is looking at acquisitions and is looking at geographies outside the US and Europe for further expansion. However, the company CEO and Managing Director K Gopalakrishnan made it clear that it doesn’t want to do an acquisition for the sake of it, and it will happen only when it finds the right company at the right price. The company had cash and cash equivalents of Rs 12,030 crore, including investment in liquid mutual funds and certificate of deposits, as of June end this year. (DNA)
ING Vysya Life Owners Looking To Sell Stake - Indian shareholders of ING Vysya Life Insurance — Exide Industries, Ambuja Cements and Enam Group — are looking to divest part of their holdings in the company. The shareholders are looking for domestic investors for stake sale. ING holds the maximum permissible foreign investment level of 26%, whereas Exide holds nearly 50% in the company. The combined shareholding of Ambuja and Enam is pegged at 24%. (Economic Times)
Intel Cap May Bid For Stake In ITI Units – US based Intel Capital may emerge as one of the bidders for a stake in the factories owned by ITI Ltd, as part of its strategy to spread WiMax technology in India. Currently, BSNL and MTNL buy only 10% of their total requirements from ITI. Apart from Intel, Chinese manufacturer Huawei and Franco-American Alcatel-Lucent are interested in the ITI factories. (Hindu Business Line)
Thailand's Absolute Hotel To Open Shop In India - Thailand based hospitality chain Absolute Hotel Services (AHS) plans to open eight hotels in India. It has recently signed a consultancy-cum-management contract with Mumbai based KBJ Group for its first five-star hotel in Varanasi, and is currently in negotiations for its second five-star property in Mumbai. The Varanasi project will entail an investment of $12 million. It has already tied up with Tourism Finance Corporation of India to raise 50% of the funds for the project and will fund the remaining amount through internal accruals. (DNA)
Allied Digital Plans To Raise $50 Mn - Infrastructure services provider Allied Digital Services is planning to raise $50 million (about Rs 244 crore) through issue of securities. The board has approved the issue of securities to qualified institutional buyers on a preferential basis. The board has also approved issue of one lakh equity share warrants to the Bennett, Colemen & Company Ltd (BCCL) on a preferential basis. (PTI)
GlobalLogic Eyes Buys In India – US based software product development firm GlobalLogic is scouting for buyouts in India. The company is in talks with some firms and plans to complete the acquisitions by the end of the next quarter. GlobalLogic is looking out for small outsourced product development (OPD) vendors, with technologies like software as a service, cloud computing, automated testing, and embedded mobile applications, among others. (BS)
