News Roundup: LVMH Group May Bid For Aman Resorts

06 September, 2011

LVMH Group May Bid For Aman Resorts – LVMH Moet Hennessy Louis Vuitton SA (MC) is among companies that might be seeking to acquire luxury-hotel chain Amanresorts International. DLF Ltd has received at least five non-binding bids of $400 million to $450 million for Amanresorts. Amanresorts owns and manages 25 small luxury resorts worldwide. DLF is seeking to raise as much as $2.2 billion through asset sales to repay debt. Private-equity firms are among bidders for Amanresorts. (Bloomberg)

WestBridge Eyes Applabs, Indecomm Exits – WestBridge Capital has put on the block two of its earliest investments — Applabs and Indecomm Global. While it invested around $15 million in multiple rounds in Indecomm Global, WestBridge controls about 50% of Applabs. The two exits are expected before the end of 2011 and may fetch as much $150 million for WestBridge, a cumulative return of around six times. While Indecomm is a technology services provider, Applabs is a software testing services provider. (Business Standard)

Dunlop To Sell Worli Property – Dunlop India Ltd (DIL), the Kolkata-based tyre manufacturing company controlled by Pawan Kumar Ruia, has put its real estate assets on a block to raise money. Dunlop is looking to sell off its land parcels across the country, which would generate good value. The first property it has put on sale is the one-acre land parcel in Worli, Mumbai. It is in a very prime location and the company is looking to raise anywhere between Rs 300 and Rs 350 crore. (Business Standard)

Rakesh Jhunjhunwala To Buy Into Pipavav – Billionaire investor Rakesh Jhunjhunwala is likely to pick up stake in Nikhil Gandhi-promoted Pipavav Defence and Offshore Engineering Company Ltd (Pipavav Shipyard) through convertible share warrants. Jhunjhunwala will acquire a significant minority stake in Pipavav. On Tuesday, Pipavav Shipyard shares rose 4.7 per cent, or Rs 3.50, to Rs 76.90 on the Bombay Stock Exchange in an overall weak market. (Business Standard)

Prizm Payments Eyes Rs 1,000Cr Capex – Sequoia Capital-backed Prizm Payment Services Ltd plans capital expenditure of Rs 1,000 crore over three years to scale up its network for electronic payment modes like Automated Teller Machine (ATM) and Point of Sale (POS) networks. The capital expenditure, pegged over Rs 300 crore per year, would be funded through a combination of debt, operating leases and vendor financing. The company would look at another round of capital infusion only in the second half of 2012-13. (Business Standard)

PG Electroplast Price Band At Rs 190-120 – The price band of PG Electroplast’s IPO of Rs 120 crore (at the upper end of the price band) has been fixed at Rs 190-210 a share. The company is issuing 57.45 lakh equity shares. The promoters’ stake in the company after the issue will be 65 per cent. The company plans to utilise the IPO proceeds for pre-payment of term loans, towards expansion of its manufacturing facilities at Greater Noida and at Ahmednagar, and for meeting long term working capital requirements. (Business Line)


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News Roundup: LVMH Group May Bid For Aman Resorts

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