Jagran Group Set To Buy Nai Dunia – The Jagran group that publishes the country’s most widely read Hindi newspaper, Dainik Jagran, is close to buying out Nai Dunia, the Indore-based Hindi daily promoted by Vinay Chhajlani. The talks have been on for a while and the deal size is expected to be around Rs 300 crore. Nai Dunia was started in 1947 and is published from Indore, Gwalior and Jabalpur in Madhya Pradesh and from Bilaspur and Raipur in Chhattisgarh. <a href="http://www.business-standard.com/india/news/jagran-group-to-buy-nai-dunia/469286/” target=”_blank”>(Business Standard)
Salman Khan Takes Stake In Yatra – Salman Khan will play a double role as the brand ambassador and an investor for travel portal yatra.com. The Bollywood superstar will pick up less than 5% stake in the company. Yatra.com said the company will launch a multimedia campaign featuring Salman Khan with a marketing budget in excess of Rs 30 crore within a few days. (Economic Times)
Valuation Battle Hots Up Shriram Exit From Honda JV – An acrimonious battle seems imminent between Japanese automobile giant Honda Motor Company (HMC) and its 17-year-old Indian joint venture partner, Shriram Industrial Enterprises Ltd (Siel), over the valuation of the latter’s five per cent stake that it wants to sell. In 1995, the partners had set up their joint venture, Honda-Siel Cars India (HSCI), to manufacture passenger cars in the country. (Business Standard)
Essel Ups Stake In IVRCL – Subhash Chandra-led Essel Group bought a 10.2 per cent stake in Hyderabad-based IVRCL to further its interests in infrastructure. Based on IVRCL’s current market capitalisation of Rs 1,612 crore, the deal worked out to be Rs 164 crore. Group company Asian Satellite Broadcast bought 4.73 million shares of IVRCL at Rs 60.4 apiece, valuing the transaction at Rs 28.6 crore. (Business Standard)
TVS Group Acquires UK Firm For Rs 100Cr – The TVS Group on Tuesday announced the acquisition of a majority stake in UK-based Universal Components for Rs 100 crore, as part of its expansion plans. It has also re-branded Multipart, its existing supply chain solutions brand in Europe, into TVS Supply Chain Solutions. The group has acquired 90 per cent of Universal Components through a special purpose vehicle, TVS Europe Distribution UK, formed by group companies. (Business Standard)
PhillipCapital To Buy MF Global Sify – The Singapore-based financial services group PhillipCapital will acquire MF Global Sify Securities India, a broking firm owned by the bankrupt US broker MF Global Holdings, in an all-cash deal. MF Global, a victim of sharp practices and eurozone debt crisis, holds around 70% stake in the Indian unit and the rest is owned by Sify Technologies. (Economic Times)
Grover Vineyards Merges With Vallee De Vin – Bangalore-based Grover Vineyards has merged with Nashik-based Vallee de Vin to create Grover Zampa Vineyards, the second-largest Indian vintner after Sula with an estimated valuation of around Rs 100 crore. Vallee de Vin, owned by spirits industry veterans Deepak Roy and Ravi Jain, makes Zampa wine. A consortium of investors led by Singapore-based Ravi Viswanathan will hold 47% in the merged entity. (Economic Times)
JSPL To Raise $150M – Jindal Steel & Power Ltd plans to raise about $150 million (about Rs 764 crore) through overseas borrowing in the next two weeks. Regarding the capital expenditure plans for the next fiscal, JSPL expects to spend about Rs 6,000- 8,000 crore for steel and power. (Economic Times)
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6 years ago
Jagran In Talks To Buy Nai Dunia – The Jagran group that publishes the...
6 years ago
Jagran Prakashan has acquired NaiDunia Media Pvt Ltd, by buying the publishing...
6 months ago
Media house Jagran Prakashan Ltd is looking to revamp its portfolio and put in...