Jagran In Talks To Buy Nai Dunia – The Jagran group that publishes the country’s most widely read newspaper, Dainik Jagran, is in talks to buy Nai Dunia, the Indore-based Hindi daily run by Vinay Chhajlani. Although there is no official word on the size of the proposed deal, media industry experts familiar with the development said that it could be close to Rs 200 crore. Sanjay Gupta, chief executive officer of Jagran Prakashan Ltd, confirmed that the company had received a proposal from Nai Dunia News and Network Pvt. Ltd that publishes the newspaper launched in 1947.
Fidelity PE Invests Rs 200Cr In Aptuit Labs – Fidelity Growth Partners, the India-focused private equity arm of Fidelity Worldwide, has invested close to Rs 200 crore in Hyderabad-based pharmaceutical company Aptuit Laurus for over 20% stake, an indication of the continuing lure of the Indian pharma market for foreign investors. Aptuit, which has a turnover of Rs 500 crore, manufactures active pharmaceutical ingredients, the key component of medicines. It is also a contract manufacturer. (Economic Times)
Hexaware Founders Appoint Morgan Stanley, Credit Suisse For Sale – The founders of mid-tier IT services firm Hexaware and private equity investors in the company led by General Atlantic have appointed Morgan Stanley and Credit Suisse to help them find buyers for their stake in the company. Hexaware was founded by Atul Nishar and he along with members of his family own a 28% stake in the firm. General Atlantic which invested in the company in 2006 owns close to 15% stake in the company, through a combination of ADR’s and shares listed in India. Hexaware has annual revenues in excess of $250 million and is likely to be an attractive target for global strategic investors. (Economic Times)
Credit Suisse’s Vikram Gandhi Starts Owns I-bank – Vikram Gandhi, former vice-chairman of investment banking and global head of the financial institutions group at Credit Suisse, is setting up an investment bank— VSG Capital Advisors. The Delhi-based firm will handle domestic and cross-border deals and advise high networth individuals and global institutional investors such as pension funds and sovereign wealth funds (SWFs) which are looking to increase their allocation to India. (Mint)
Lanco Puts Wind Energy Business On Block – In an indication of the coming consolidation in India’s wind energy sector, Lanco Infratech Ltd has decided to exit the segment and has given the mandate for selling the business to audit and consulting firm Ernst and Young (E&Y). Lanco has 5,000 megawatts (MW) of wind power licences and had acquired land for 600MW of capacity through Lanco Wind Power Pvt. Ltd. Lanco’s decision comes at a time when the company is laden with a debt burden of Rs. 29,665.7 crore as of 30 September. (Mint)
General Atlantic Eyes Stake In IndusInd Media – General Atlantic Llc (GA) is looking to pick up a significant stake in the Hinduja Group’s cable distribution arm IndusInd Media and Communications Ltd (IMCL). IndusInd Media was keen on the deal because it needed money to meet the digitization deadline. The money will be needed more in the second phase when nearly 65-70 cities will be digitized, which means covering a population of 70-90 million. The investment firm had earlier invested in the Hinduja-owned IndusInd Bank. /p>
DLF’s Sale of Aman Resorts May Stretch To FY13 – The much-awaited sale of the Aman Hotel chain may spill over to the next financial year. DLF, the country’s largest real estate company by market capitalisation, was trying to sell its stake in the Aman properties, excluding the group’s Delhi hotel, in 2011-12 to cut its debt. DLF indicated the sale of its non-core assets in the hospitality sector could also take place in 2012-13. Expected to fetch the cash-strapped company nearly Rs 2,000 crore, the Aman deal has been in the market place since last June. (Business Standard)
Tata Communications To Raise $600M In Equity – Tata Communications will raise $500-600 million (over Rs 2,500 crore) in equity over the next three years. The company, which celebrates the 10th year of its acquisition (as VSNL) by the Tata group, has invested over Rs 17,000 crore in building capabilities and entering new markets. It has debt of over $1.5 billion on its books. But as the capex intensity for the company declines and internal accruals build up, the company will be able to look for the best options and timing to raise equity. (Business Line)