Kotak-backed BVG Close To Rs 800Cr PE Deal – Bharat Vikas Group, a Rs 300 crore facilities management company, is attracting the eyes of global private equity investors in a deal being valued at Rs 800 crore. The promoters along with Kotak Private Equity are expected to reduce their stake in this company. BVG has around 300 clients in India including Tata Motors, M&M, Wipro, Accenture, Whirlpool, ITC, HUL, Indian Railways, ONGC, Indian Navy among other. (Business Standard)
ASK To Raise Rs 1,000Cr Realty Fund – ASK Property Investment Advisors, part of the Mumbai-based ASK group, will raise Rs 1,000 crore from high networth individuals and family trusts to invest in residential properties. The ASK Real Estate Special Opportunities Fund planned to raise Rs 500 crore by February 2011 and the remaining in two-three months after that. (BS)
TV9 Seeks FIPB Nod Again For SAIF Deal – The Foreign Investment Promotion Board (FIPB) has rejected the proposal of Hyderabad-based Associated Broadcasting Company Ltd (ABCL) to give stake to Mauritius-based private equity fund Saif III Mauritius Company. Saif was to hold around 14.5% for Rs 51 crore , valuing the news broadcasting company at Rs 350 crore. ABCL operates six news channels including TV9 AP (Telugu), TV1, TV9 Karnataka, News9 English (Bangalore), TV9 Gujarat, and TV9 Mumbai (Hindi). (Indiantelevision)
HCC Concessions To Sell 15% Stake – HCC Concessions Ltd , a unit of Hindustan Construction Co, plans to dilute 10 to 15% stake to raise funds. HCC Concessions is the wholly-owned infrastructure development subsidiary of HCC. (Economic Times)
Jindal Steel & Power IPO Next Year – Jindal Steel & Power, which has filed a DRHP for Rs 7200 crore with SEBI, expects to come out with an IPO in the next calendar year. The firm has the SEBI approval which is valid up to May. (ET)
Coal India Nears Peabody Deal – Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by US-based Peabody. Peabody will transfer the mine to a special purpose vehicle or a company set up for a particular transaction in which it will hold up to 90% and the rest by Coal India. Reports suggest that the asking price had come down to $600-700 million from $1 billion earlier. (ET)
ONGC, Sistems To Merge Russia Oil Biz – State-run ONGC and Russian conglomerate Sistema have decided to merge their oil & gas businesses in Russia under a joint venture in a no-cash deal where the Indian firm will have a 25% shareholding with a say in management. The merger of three companies, Bashneft, RussNeft and Imperial Energy, will make ONGC a shareholder in the Russian firms’ annual oil production of 25 million tonne and in the output of their refineries which have a capacity of 20 million tonnes besides discovered oil fields, Trebs and Titov. (ET)
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