Morgan Stanley In Talks To Buy Lanco's Road Projects - Morgan Stanley Infrastructure Partners, a $4-billion global infrastructure fund, is in early discussions with infrastructure company Lanco Infratech to buy its 401 km of highway projects, in various stages of construction, which are up for sale. A few other infra-focused PE firms are also engaged in due diligence for Lanco’s road assets. The valuation was in the range of Rs 1,000-1,200 crore. (Business Standard)

Morf India In Talks For Rs 10Cr Funding - Morf India, a Rs 10-crore company now, is looking at a turnover of Rs 30 crore this year with an aim to take it to Rs 500 crore by 2015-16. The company is also in talks with some venture capitalists to raise funds to the tune of Rs 10 crore this year. Chennai-based firm has entered into a licencing agreement with Swedish multinational home appliances major Electrolux Group to offer latters range of water and air purifiers under the Kelvinator brand in India and Sri Lanka. (Business Standard)

Sterlite-Sesa Merger Meets Opposition From Templeton - Vedanta Resources' plan to merge Sterlite Industries with Sesa Goa to create a new company called Sesa Sterlite could run into a wall as Sesa Goa's largest institutional shareholder, Templeton, is in talks with other institutional shareholders to stall the merger process. Sesa Goa has called an EGM on June 19 to put the merger process to vote, and Templeton, which holds a 13% stake, is trying to muster adequate support to block the resolution. (Economic Times)

VE Commercial Merges Three Units - In a bid to deal more effectively with competition, India's third-largest commercial vehicle player VE Commercial Vehicles, an equal joint venture between the Volvo Group and Eicher Motors, has restructured the organisation by merging three different profit centres - Eicher Trucks and Buses, Volvo Trucks and the Powertrain unit. (Economic Times)

ONGC To Bid For ConocoPhillips Assets - Oil and Natural Gas Corp. Ltd (ONGC), the country’s biggest state-owned energy explorer, is considering bidding for part of ConocoPhillips Canadian oil sands holdings worth around $5 billion (around Rs 27,500 crore). The Houston-based company has been looking to sell assets in a number of countries including Nigeria as part of a global restructuring. (Mint)

Leave Your Comment(s)