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News Roundup: Lenders agree to fund Deccan Chargers; Videocon ready to buy

20 September, 2012

Lenders agree to fund Deccan Chargers; Videocon ready to buy: A lenders’ consortium has agreed to finance cash-strapped newspaper publisher Deccan Chronicle Holdings Ltd (DCHL) so that its team, Deccan Chargers , can play in next year’s edition of the Indian Premier League (IPL), offering a potential lifeline to the Hyderabad franchise. (Mint)

Motilal Oswal eyes Rs 900Cr fund: Motilal Oswal Private Equity Advisors (MOPE), a wholly owned subsidiary of financial services group Motilal Oswal Financial Services, plans to raise its second private equity (PE) fund, India Business Excellence Fund-II, with a corpus of Rs 750-900 crore. MOPE’s first fund, Rs 550 crore India Business Excellence Fund-I has been fully deployed. (Business Standard)

NMDC in talks with 2 firms to buy assets in Mozambique, Russia: State-owned iron ore miner NMDC is in talks with two coking coal firms, once each from Mozambique and Russia, for acquiring stakes in them. Of this, Sol Mineracao Mozambique — the Mozambique firm- has coking and thermal coal assets, having an exploration target of about 500 million tonne, in Mutarara district of Tete Province in the African nation, NMDC said in its annual report for 2011-12. (Business Standard)

Elitecore in talks for $30M acquisition in Europe: Ahmedabad-based network security provider Elitecore Technologies is in talks with some of the leading telecom products players in Europe for a possible acquisition for $30 million (Rs 162 crore approximately). The company which itself offers enterprise solutions in the telecom industry is looking to tap the western markets through inorganic growth. (Business Standard)

Maiya set to step on the gas with PE funds: Sadananda Maiya, one of the key figures in developing India’s ready-to-eat segment into a strong Rs 800-crore market, is understood to be in talks with private equity (PE) firms to fund expansion. The 63-year-old son of Parampalli Yajnanarayana Maiya, who founded the iconic MTR Restaurants chain in 1924, parted with the family’s restaurant business to launch MTR Foods in 1994. This was sold to Norway-based Orkla Group for Rs 300 crore in 2007. (Business Standard)

Courtesy: VCCEdge    


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News Roundup: Lenders agree to fund Deccan Chargers; Videocon ready to buy

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