Marico, P&G Join Race For Paras Pharma – Even as Emami is leading the race to acquire the Rs 500-crore Paras Pharmaceuticals, Procter & Gamble Hygiene and Health Care (PGHHCL) and Marico have joined the fray. Paras Pharmaceuticals’ OTC (over-the-counter) brands include Moov, D’Cold Total, Krack and Dermi Cool among others. Pharma majors such as Cipla and Piramal Healthcare are also interested in acquiring Paras Pharma, whose valuation has gone up to Rs 3,250 crore. (Financial Express)
Essar Eyeing Oil & Gas Buys In Africa – The Ruia family-promoted Essar Oil, India’s second-largest private refiner, is close to acquiring oil and gas exploration blocks in Africa to secure crude oil supplies for its refineries in India and Kenya. The refinery arm of the London-listed Essar Energy is eyeing overseas oil assets as it is expanding its refinery in India and owns half of Kenya Petroleum that runs a refinery in Mombasa. (Economic Times)
Lodha Developers IPO Soon – Lodha Developers Ltd, the Mumbai-based real-estate company, will hold a board meeting next month to consider going public. Lodha is yet to finalise the details of the size of the offer and yet to file a draft red herring prospectus. Lodha Group had earlier entered into a deal with HDFC to raise Rs 500 crore when it announced the world’s tallest tower WorldOne project to come up in Mumbai. (HinduBusinessLine)
Metropolis, SRL In Talks For Buys In South Africa – Diagnostic chains Metropolis Healthcare and Super Religare Laboratories (SRL) are separately in talks to acquire pathology chains in South Africa to expand their business. Metropolis Healthcare is eyeing a deal worth up to Rs 400 crore, that will make it the largest overseas acquisition of a diagnostic chain. (ET)
Indiabulls Realty In Restructuring Mode – Indiabulls Real Estate is considering restructuring its power and infrastructure business to help raise their net worth to meet funding requirements. The move will also allow investors to diversify their portfolio into separate entities focussed on real estate and power/infrastructure. (Business Standard)
Supertech Targets Rs 2500cr IPO, PE Fuding – Realtor Supertech Ltd plans to raise about Rs 2000-2500 crore through an initial share sale in a year and is in the process of appointing bankers. Supertech has appointed Knight Frank as consultant to do the valuation. Supertech has projects worth about Rs 10,000 crore, expects to dilute about 20% stake in the IPO. Supertech expects to conclude two private equity deals in one-and-a-half month to raise a total of Rs 500 crore in two projects. (Moneycontrol)
Tata Chemicals Buys South African Co – Tata Chemicals has signed a share purchase agreement to buy 100% equity of South Africa-based firm Grown Energy Pty for $1.1 million. Grown Energy is engaged in exploration of bio-fuels in Mozambique. (DNA)
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