News Roundup: Marico In Talks With GIC, Khazanah For $100M

03 April, 2012

Marico In Talks With GIC, Khazanah For $100M – FMCG major, Marico wants to raise $100 million via stake sale, company is in talks with private equity players like GIC, Temasek, Khazanah for the stake sale. Marico could be selling close to 5% stake in the parent company for raising $100 mn. Citi and Kotak Investment Banking are likely advisors to Marico for the fund raising process. Marico is looking at de-leveraging it’s balance sheet after making the big acquisition of the personal care business of Paras. (Economic Times)

Malaysia’s CIMB Buys RBS Assets – Malaysia’s CIMB Group said it has acquired certain businesses of Royal Bank of Scotland in Asia Pacific, including some of its assets in India. CIMB will pay RBS a gross amount of about £88.40 million (about Rs 720 crore) and inject further £85.50 million of new capital into various operating entities. The deal will allow CIMB, one of the largest banking groups by assets in Southeast Asia, to have a strong focus on Indian markets. (Economic Times)

Aanjaneya Lifecare To Raise $75M – Aanjaneya Lifecare today said it will raise $ 75 million (over Rs 380 crore) by issuing securities and foreign currency convertible bonds to fund its ongoing capex and acquisitions. The issue to the QIBs through Qualified Institutional Placement will be made in tranches over a period of 18 months. The first tranche will aggregate to $25 million. (Economic Times)

RBS To Infuse Rs 508Cr In Local Arm – DBS Group Holdings has infused Rs 508.50-crore capital into its India operations, increasing its ability to grow in the country. The Singapore-based bank is also keen on turning its Indian operations into a wholly-owned subsidiary and growing inorganically, if necessary amendments to rules are made. (Economic Times)

Bilfinger Berger To Invest Euro 100M – Leading German engineering and services company Bilfinger Berger on Monday said it plans to invest more than 100 million euros in India in the next couple of years. The recent acquisition of the Surat-based Neo Structo Construction Ltd and Spetech Plant Equipments Private Ltd represents an initial milestone in the German company’s objective of strengthening its commitment in Asia. (Business Line)

Dunlop To Conert Rs 60Cr Loan In Equity – Dunlop India Ltd board has proposed to convert loan worth Rs 60 crore into equity worth Rs 50 crore. It said the proposal is for issue of 5 crore equity shares of Rs10 each at Rs 12 a share for conversion of outstanding loan of Rs 60 crore on preferential basis. This is significant for the recovery of the financially troubled company. (Business Line)


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News Roundup: Marico In Talks With GIC, Khazanah For $100M

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