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News Roundup: Network18, Eenadu Close To A Share Swap Deal

14 December, 2011

Network18, Eenadu Close To A Share Swap Deal – Months after talks between Multi-Screen Media (MSM), which runs Sony Television in India, and the Ramoji Rao-owned Eenadu TV (ETV) fell through, the Raghav Bahl-controlled Network18 Group is inching close to a deal with ETV. Network18 Group is likely to merge ETV’s bouquet of 11 regional channels and one Telugu news channel with itself through a share swap. Expected valuation of ETV is around Rs 2,650 crore to Rs 3,180 crore. (Business Standard)

Luminous Promoter Buys 55% In Fly Mobiles – SAR Group, makers of Wynncom brand of mobile phones, has acquired a 55% stake in UK-based Fly Mobiles’ business in India and Saarc regions. Both Fly and Wynncom, with combined sales of about Rs 300 crore annually. SAR Group promoter Rakesh Malhotra confirmed the development and said that deal size along with additional investments over the next three years will be in the range of Rs 200-250 crore. (Economic Times)

C&S Electric Buys Netherlands based Etacom – Delhi-based Rs 825 crore power equipment manufacturer C&S Electric Ltd acquired Netherlands based Etacom ISD BV, which is likely to earn a revenue of Rs 125 crore. It is learnt that Etacom was valued at around 20 million Euro. Etacom is the international leader for specialized cast resin insulated busbars. (Times of India)

Visa Power To Raise $100M – Visa Power Ltd, which attracted investment of $111 million from Blackstone Group LP in July, is in talks with private equity (PE) firms to raise an additional $100 million (Rs.534 crore) to develop one of its power projects. Founded by Vishambhar Saran and based in Kolkata, Visa Power is an independent power producer with a 1,200 megawatts (MW) coal-fired power plant in Chhattisgarh as its core asset. (Mint)

Docomo Eyes Increasing Tata Tele Stake – Japanese giant NTT Docomo is set to discuss an option of increasing its stake in Tata Teleservices to 35% in the next four months. This is part of a two stage plan that allows Docomo to ramp up shares if the Indian mobile operator meets certain performance parameters. Docomo bought a 26% stake in Tata Teleservices for $2.7 billion in 2008. (Times of India)

BEML To Hive-Off Rail Business – The Government-owned BEML Ltd is to hive off its rail business into a separate company to tap the business in rail rolling stock of nearly Rs 1 trillion over the next ten years. The Bangalore-based BEML, which got into the rail business only in 2002, is the only Indian company to manufacture metro rail cars. It will supply the rolling stocks to Delhi Metro and Bangalore Metro. (Business Line)

UTI Capital Buys 4% In Indian Oiltanking – UTI’s private equity arm, UTI Capital, has bought 4% stake in Indian Oiltanking, a joint venture between state-run Indian Oil Corporation and Germany’s Oiltanking GMBH, for Rs 100 crore. Indian Oiltanking will use the proceeds to fund its upcoming storage terminal in Paradip and for its overseas EPC projects. The company reported a turnover of Rs 1,750 crore during the last financial year. (Economic Times)

Ajay Piramal Group Eyes Homeland Security – Cash-rich Ajay Piramal Group has floated a new company, Piramal Systems and Technologies (PST), to spearhead the group’s foray into defence security business. The company has identified Global Technical Systems (GTS), a US based surveillance technology developer, as a collaborative partners in India. (Business Standard)


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News Roundup: Network18, Eenadu Close To A Share Swap Deal

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