News Roundup: Naturals Salon looks to raise Rs 100Cr PE funding

12 July, 2012

Naturals Salon Looks To Raise Rs 100Cr PE Funding – Venus Spa and Salon Pvt. Ltd, which runs the predominantly Tamil Nadu-based Naturals unisex beauty parlours, plans to raise Rs 100 crore from private equity (PE) firms before October by selling a 25% stake as the largely franchise operation starts launching company-owned outlets inside 250 mid-sized Easyday stores of Bharti Retail Pvt. Ltd. Its adviser Ernst and Young is in talks with private equity funds Carlyle Group, Sequoia Capital, Motilal Oswal Private Equity Advisors and TVS Capital.  (Mint)

Mahindra Satyam In Talks For European Acquisition – IT services provider Mahindra Satyam is in discussions to acquire an aerospace engineering firm in Europe. The acquisition is part of a larger plan by the company to improve its offerings in engineering services, and in the healthcare and financial services verticals. Satyam is likely to finalise the transaction in a couple of months. (Economic Times)

GSPC May Sweeten Bid For Gujarat Gas – The consortium comprising Gujarat State Petroleum Corporation (GSPC), Oil and Natural Gas Corporation (ONGC), Bharat Petroleum (BPCL) and Oil India (OIL) is likely to sweeten its bid for British Gas’ (BG) 65.12% stake in the Rs. 2,500-crore Gujarat Gas Company. While BG is reportedly looking for Rs 4,500 crore, the consortium has offered between Rs 3,800 crore and Rs 3,900 crore. The BG Group had acquired the 65.12% stake in Gujarat Gas for close to Rs 225 crore in 1997. (Financial Express)

Alliance Detal Corp Close To Raising Rs 30Cr – Alliance Dental Care, a joint initiative of Apollo Hospitals and Trivitron Healthcare, is looking to raise private equity funding of Rs 30 crore. Alliance hopes to conclude the deal in a few months. This will see the partners shedding stake. Currently, Apollo has a 70 per cent stake in the company, while medical equipment company Trivitron holds the rest. (Business Line)

Cabinet Considers SAIL Selloff Again – The Union Cabinet may consider a proposal on Thursday to sell a 10.82% stake in Steel Authority of India (SAIL) in a bid to raise resources to fund government’s social sector schemes. The planned sale could fetch the government up to Rs 4,000 crore at current market capitalisation. The government holds 85.82% in the largest domestic steel producing company in the country.  (Times of India)

HDFC To Find Buyers For Kingfisher’s Non-core Assets – Mortgage lender HDFC will find a buyer for the debt-laden Kingfisher Airlines’ non-core assets — Kingfisher House in Mumbai and the promoters’ villa in Goa. The consortium of 17 banks has agreed to Kingfisher Airlines roping in HDFC to do the valuation of these two properties and also find a buyer. (Business Line)


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News Roundup: Naturals Salon looks to raise Rs 100Cr PE funding

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