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News Roundup: NMDC To Buy Brazilian Company Amplus

13 March, 2012

NMDC To Buy Brazilian Company Amplus – India’s largest iron ore producer, NMDC, has agreed in-principle to acquire majority stake in Brazilian iron ore firm, Amplus. The deal involves an investment of $150 million for development, however, NMDC will initially invest around $10-15 million to acquire 26% holding and buy up to 50% subsequently. (Economic Times)

Qatar Fund Eyes Stake In Violet Arch – Qatar Investment Authority (QIA), one of the largest sovereign funds based out of West Asia, is in discussion with Violet Arch Capital Advisors, a financial services start-up, for acquiring a minority stake. Apart from QIA, a few other PE firms are in negotiation with Violet Arch for fund infusion. (Business Standard)

Cigniti Eyes Deals In US, Europe – Cigniti Technologies Limited (formerly Chakkilam Infotech Limited), a Hyderabad-based independent software testing company, is looking at acquisitions in India, the US and Europe to further expand its footprint in the specialised testing space. Chakkilam Infotech, in 2011, had acquired US-based Cigniti Inc in an all-stock deal. Post the m1erger process, it rebranded itself as Cigniti Technologies Limited. (Business Standard)

United Breweries May List FCCBs In Singapore – Vijay Mallya’s United Spirits, the flagship spirits company of the UB Group, is understood to have decided on Singapore as the destination for a Foreign Currency Convertible Bonds (FCCBs) issue through which it intends to raise up to $225 million. The company is working at a feverish pace to complete the process before the end of April 2012. (Business Standard) 

Freudenberg Filtration Acquires Pyramid Filters – Pune-based Freudenberg Filtration Technologies, a provider of industrial and automotive filter elements and systems said it has acquired Pyramid Filters Private Limited a producer of air filter elements and systems for clean room applications in the pharmaceutical, medical, food and chemical industries. This acquisition is with effect from 1st April, 2012. (Business Standard)

Unitech Eyes Rs 250Cr From Realisations – Real estate major Unitech said on Monday it eyes a sales realisation of about Rs 250 crore over two years from the luxury housing project in Bangalore. The company announced the launch of its luxury villas project ‘Aranya’. It plans to develop 68 villas in the 15-acre project. The villas sizes range from 4,319-7,000 sq ft. (Business Standard)


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News Roundup: NMDC To Buy Brazilian Company Amplus

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