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News Roundup: KKR, Carlyle Among Final Bidders For Thomas Cook

02 April, 2012

KKR, Carlyle Among Final Bidders For Thomas Cook – Kohlberg Kravis Roberts (KKR), Carlyle, and Travelex are among the five bidders that remain in the running for Thomas Cook India , which has been put up for sale by its British parent. The London-listed holiday maker Thomas Cook Plc holds 77% stake in the Indian arm and the remaining is with institutional investors and public. Other shortlisted parties include Fairbridge Capital and a Japanese travel agency. (Times of India)

Care Hospitals Raises $110M From Advent – Advent International Corp. has invested $110 million (Rs.560 crore) in the Hyderabad-based hospital chain Care Hospitals Pvt. Ltd, making it the largest private equity (PE) investment in the healthcare sector this year. Care, with 12 hospitals and a focus on smaller cities, has a presence in Bhubaneswar, Secunderabad, Nagpur, Surat and Visakhapatnam. The chain, founded in 1997, is estimated to have a revenue of at least Rs.500 crore. (Mint)

Zee Buying Out DB From DNA – Seven years after entering into a 50:50 partnership, the Subhash Chandra-promoted Zee group is close to buying out Dainik Bhaskar (DB) Corp from Diligent Media Corporation, which publishes DNA, the daily English language newspaper. DB Corp, which publishes the country’s second most widely read paper Dainik Bhaskar, has been gradually reducing its stake in DNA and wants to focus on the growth in regional markets. (Business Standard)

Miglani Family To Raise Stake In Lloyds – ArcelorMittal’s steel ambitions in India may have got delayed but its local partner, the Miglani family, is stepping up investments in the sector through strategic stake purchases of stake in small companies across Maharashtra and Karnataka. The Miglani family, which owns Uttam Galva, where ArcelorMittal has a significant stake, plans to increase its stake in Lloyds Steel from 24.5% to help the company fund expansion plans. (Economic Times)

Yes Bank Revives Fundraising Plan – YES Bank has raised Rs 380 crore in debt from International Finance Corp (IFC) and revived its plan to raise $400 million in share sale in the European markets as investors’ risk appetite returns after the European crisis appears to have eased. In the last quarter, the bank had raised Rs 830 crore through debt issuances. It raised Rs 380 crore of hybrid debt from IFC. (Economic Times)

ASK Takes Stake In Godrej Project – Godrej Properties Ltd on Sunday sold 49 per cent stake in its subsidiary Godrej Landmark Redevelopers Private Ltd (GLRPL) to ASK Property Investment Advisors. Godrej Landmark is working on a residential re-development project in Chembur, Mumbai. ASK will pay a Rs 20-crore premium to GLRPL for its 49 per cent stake in the project, ASK and Godrej said in a joint statement. (Business Standard) 

ABP To Take Control of Star News Venture – Media giant Ananda Bazaar Patrika (ABP) is parting ways with the Rupert Murdoch-controlled STAR Group, after months of discontent over editorial and other strategic issues. The two have been operating the news television venture Media Content & Communications Services India Pvt Ltd (MCCS) over the past nine years. ABP is set to buy out Murdoch and STAR’s shareholding in the JV. (Business Standard)

DMI Finance Buys 16% In Alchemist ARC – DMI Finance, an NBFC founded by former Citigroup employees Shivashish Chatterjee and Yuvraj C Singh, has acquired 16% stake in Alchemist Asset Reconstruction Company. The financial services firm has been valued at Rs 200 crore. Both DMI Finance and Alchemist confirmed the acquisition but declined to divulge the deal size or the valuation. (Economic Times)

ICICI Bank, Sahara Eye Parsvnath Land Block – Real estate major Parsvnath Developers may soon be able to reduce a significant chunk of its debt, thanks to certain corporate giants showing interest in buying a prime piece of property it owns in the national capital. The Sahara Group is engaged in discussions with Parsvnath to buy its commercial land near Connaught Place in New Delhi. ICICI Bank is also among the contenders for the piece of land, it is learnt. The 1.18-acre plot at Kasturba Gandhi Marg was bought by Parsvnath in 2008 for about Rs 200 crore. (Business Standard)

Anish Modi, Sumit Chandwani Float $300M Fund – Former ICICI executive director Sumit Chandwani and erstwhile India head of Hong Kong-based ADM Capital Anish Modi have joined hands to set up a fund that will focus on management buyouts in mid-cap companies and distress assets. The $300 million fund called Arth Capital from an office in Nariman Point this month. (Economic Times)


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News Roundup: KKR, Carlyle Among Final Bidders For Thomas Cook

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