Jhunjhunwala Puts Aptech On Block – Billionaire investor Rakesh Jhunjhunwala has started the process to sell his promoter stake in Aptech. Jhunjhunwala holds a 35.79% stake in the company which he acquired six years ago. List of potential suitors approached include TeamLease, a staffing company with interest in vocational education , and Manipal Universal Learning. Aptech may be looking at over Rs 600 crore valuation, or about 14 times its operating profit, which is a premium to the stock market valuation of Rs 461 crore. (Times of India)
French Firm SEB In Talks To Buy Maharaja Whiteline – France’s Groupe SEB is in talks to acquire a majority stake in Maharaja Whiteline in yet another clear sign of consolidation in the country’s fragmented and highly competitive kitchen appliances market. Groupe SEB, which owns the Tefal brand, is close to wrapping up the deal with the Delhi-based company for a value that is nearly treble that of Maharaja’s annual sales of Rs 300 crore. (Economic Times)
Tilaknaghar To Form JV With European Co – Tilaknagar Industries Ltd, the maker of Mansion House Brandy and Madira Rum, is in talks with a large European liquor company to form an Indian joint venture (JV) to become a diversified branded spirit company in the local market. The foreign partner is likely to hold an equal stake in the new joint venture, said two people close to the development.
Life Healthcare To Up Stake In Max To 50% – South Africa’s Life Healthcare Group has the option to increase its stake to 50% in the Analjit Singh-led hospital chain Max Healthcare if it meets certain internal targets. Life Healthcare, which picked up a 26% stake for Rs 516 crore in October, can add another 24% if the operating performance continues to improve. (Economic Times)
Emami Buys Land Worth Rs 200Cr For Realty Biz – Emami Group, a Rs 3,700-crore diversified conglomerate, has bought about 850 acres of prime real estate in a countrywide property expansion binge. The company has spent more than Rs 200 crore to buy land in Hyderabad, Chennai, Coimbatore, Jhansi and Kolkata for developing up-market large scale residential and commercial complexes. (Economic Times)
DLF To Sell Noida IT Park For Rs 450Cr – DLF, the country’s largest real estate company, has signed an agreement to divest all its stake in Galaxy Mercantile Ltd, a joint venture company between DLF Home Developers Ltd and Infrastructure Development Finance Company Ltd (IDFC). The latter will buy the entire stake, for a total of Rs 450 crore. Galaxy Mercantile owns a 1.3-million sq ft information technology park in Noida. (Business Standard)
Ybrant To Raise $100M From PEs Or QIP – Ybrant Digital, a Hyderabad-based provider of digital marketing solutions, is planning to raise $100 million (approximately Rs 520 crore) either through private equity or a qualified institutional placement (QIP) to fund its proposed acquisition of a content company that can bring Internet traffic into its network. The closely-held company has made eight acquisitions in the last five years. (Business Standard)