Medtronic Enters Talks For Strategic Investment With Trivitron – Trivitron Healthcare, the Chennai-based healthcare equipment firm with yearly revenue of about Rs 500 crore, is understood to have started negotiations with the US-based, $16-billion Medtronic Inc for a strategic equity infusion. Since early this year, Trivitron has sought to raise $100 million from the market to fuel its expansion plans and offer partial exits to its private equity investors, HSBC Private Equity (now Headland Capital Partners) and ePlanet Ventures. (Business Standard)
GoAir To Raise $200M, In Talks With PE Investors – Wadia Group-promoted budget airline GoAir is in the market to raise $200 million (Rs 1,100 crore) in equity to pare debt. The airline, which was eyeing to rope in a strategic investor to offload stake, is now willing to cut a structured equity deal with private equity players with fixed return on investments. (Economic Times)
Unitech Seeks FIPB Approval To Bring In Rs 1200Cr – Unitech Wireless, majority-owned by Norway’s Telenor, has approached the Foreign Investment Promotion Board (FIPB), seeking to bring in Rs 1,200 crore as part of the rights issue that was approved last year. The move may escalate the spat between Telenor and its estranged partner, Unitech, which has about 33% stake in the mobile phone venture. (Economic Times)
CRH To Buy Jaiprakash’s Cement Plants – CRH Plc, the $13.7-billion Irish building materials group, has entered the fray to buy Jaiprakash Associates’ cement plants in Gujarat and Andhra Pradesh, after the Indian company’s discussions with the AV Birla Group got stuck due to differences over valuation and other issues. The deal, if it materialises, is expected to fetch Rs 8,000-9,000 crore for Jaiprakash Associates and will help the company reduce its total consolidated debt of about Rs 45,000 crore.
MMTC To Raise Stake IN JV – State-owned trading giant MMTC today said it would invest about Rs 1.84 crore in its joint venture with Swiss firm PAMP for setting up a plant for minting and refining of gold and silver. MMTC holds 26 per cent in the JV, while PAMP holds the majority stake. PAMP ( Produits Artistiques de Metaux Precieux), based out of Switzerland, is mainly into refining of precious metals. (Economic Times)
Yatra IPO May Come Next Year – Online travel company Yatra.com is likely to get listed on an American stock exchange. It is expected to look at launching its initial public offer (IPO) in the next financial year. The company, which recently made news for buying Travelguru.com, is keen on more acquisitions. The Travelguru deal, while increasing the product portfolio in the hotels segment, is helping it increase its valuation. (Business Standard)
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