NSR, SAIF Partners In Talks For 20% In Kwality Dairy – Kwality Dairy is in talks with private equity funds including Saif Partners, Rabo PE and New Silk Route to sell up to a 20% stake in the company. The company, which sells dairy products under brands like Dairy Best Pure Ghee and LivLite is looking at raising around Rs 600 crore through the stake sale. In the fiscal ended March 31, 2011, Kwality’s revenue rose more than 52% to Rs 1,607.53 crore from the previous fiscal, while net profit more than doubled to Rs 47.38 crore. (Financial Express)
Infosys To Buy Thomson Reuters Unit For $700M – Infosys is close to acquiring the health care business of Thomson Reuters in a $700-750 million in the largest acquisition by India’s second largest information technology services firm. Infosys has emerged the front-runner for the deal and an announcement is expected shortly. Thomson Reuters, in the second quarter of 2011, had announced its intention to sell the health care business as it realigned the structure of its professional division. (Business Standard)
Tata Group, BSE To Invest In Anil Singhvi’s IIAS – The Tata Group, Bombay Stock Exchange and Fitch Ratings may back startup proxy advisory firm Institutional Investors Advisory Services or IIAS, launched by Anil Singhvi, former Gujarat Ambuja Cements CEO and Amit Tandon, former MD of Fitch Ratings. Proxy advisory firms advise institutional investors like mutual funds, insurance companies and pension funds on a company resolution. (Times of India)
Amit Patni Setting Up A $200M PE Fund – Three months after the launch of his maiden venture capital firm Amit, son of Gajendra Patni, is now blueprinting a growth stage fund that will take shape by the end of 2012. Patni is in talks with a couple of international venture capital funds, family offices and strategic investors from the Far East who want to enter the venture capital industry in India. (Economic Times)
Monte Carlo In Talks To Raise Rs 300cr – Ludhiana-based apparel retailer Monte Carlo Fashions Ltd is in talks with private equity firms to sell up to 25% stake in the company for around Rs 300 crore. This would value the 26-year-old brand known for its woolen wears at Rs 1,200 crore. Monte Carlo was hived off from Oswal Woollen Mills of the Nahar Group earlier this year to unlock the value of the brand through listing and private placement. (Economic Times)
United Restaurants To Raise PE Funding – United Restaurants Ltd, operator of the US Pizza chain, wants to raise at least Rs 60 crore from private equity (PE) investors for an ambitious expansion. Bangalore-based United Restaurants wants to increase the number of its outlets to 250 from 90 as it looks to expand within India and enter new markets in the subcontinent and Africa.
Mayfair Group Buy Orissa Property – Mayfair Group of hotels, the largest premium hotel chain in eastern India, has acquired the Palm Beach property of the Oberoi Group located at Gopalpur in Orissa at a cost of Rs 10 crore. The Oberoi Palm Beach, a heritage hotel, was the third oldest property of Oberoi Group, after those in Shimla and Kolkata. It was acquired by MS Oberoi in 1942 from an Italian entrepreneur and was in operation since 1947 before being closed down in 2005 due to maintenance problems. (Business Standard)
Mahindra Aerospace May Dilute Stake In Arm – Mahindra Aerospace may dilute around 25 per cent equity stake in its aircraft component business and is in talks with companies. Aerostructures is an arm of Mahindra Aerospace which deals in components for offset requirements with respect to defence orders given to foreign firms by the government of India. The Mahindra group entered the aircraft and aircraft component manufacturing business by acquiring majority stake in the Australia-based GippsAero and Aerostaff in 2009 for $38 million in association with Kotak Private Equity. (Financial Chronicle)