Olympus Capital To Invest Rs 600Cr In DM Healthcare – Asia-focused private equity giant Olympus Capital Holdings may lead Rs 600 crore, or $125 million, minority investment in hospital chain DM Healthcare to expand its India operations. Olympus, along with existing investor India Value Fund, will bring growth capital to propel the emerging hospital chain, as private equity firms take broader interest in India’s $35 billion health care services industry. (Times of India)
Metro Hospitals In Talks With Carlyle – The owners of Metro Hospitals and Heart Institute, a North India focused healthcare chain, are in talks with buyout fund Carlyle Group to divest a significant stake in five of its hospitals to fund its expansion plans. The American fund is looking to buy a significant stake in a firm which houses four hospitals – two in Noida and one each in South Delhi and Meerut. Metro is looking to sell a minority stake for $50 million (about Rs 240 crore) but a majority stake sale in these hospitals cannot be ruled out. (Economic Times)
GSK Plans $2B War Chest For India – GlaxoSmithKline global CEO Andrew Witty on Tuesday said the company has a war chest of $1-2 billion to support its expansion plans in India but will be cautious against overpaying for any buyout. According to GSK, it holds around five per cent of the world’s pharmaceutical market. The UK-based £29 billion phrama major, earns about £3.6 billion from emerging markets and £3.1 billion from the Asia pacific and Japan. (Business Standard)
Hitachi, SFO In JV – Hitachi Ltd. and SFO Technologies, on Tuesday announced a joint venture in the field of advanced control systems for thermal power plants. The joint venture company will be established next month. Based out of Bangalore, the joint venture company will be called Hitachi NeST Control Systems Pvt Ltd. Hitachi and SFO Technologies will own 70 per cent and 30 per cent respectively in the joint venture. (Business Line)
Cognizant Buys SAP Consulting Firm – Nasdaq-listed IT Firm Cognizant, has acquired Zaffera, a SAP retail consulting and software development company based in Princeton, New Jersey for an undisclosed value. Zaffera is a consulting and software development company specialising in SAP solutions, with expertise in retail, apparel, footwear and consumer products. Interestingly, like Zaffera, Cognizant also has a depth of retail expertise. (Economic Times)
SAIL FPO On Hold – The government on Tuesday said it has put on hold the share sale of Steel Authority (SAIL) amid volatility in the stock markets, while disinvestment in RINL will take place after its Rs 12,500 crore first phase expansion, likely in the next six months. The FPO of Maharatna SAIL, in which the government holds a little over 85 per cent stake, is already much-delayed, while the IPO of Rashtriya Ispat Nigam (RINL), in which the government plans to divest its 10 per cent stake, was planned for January-March quarter of the fiscal. (Economic Times)
Lodha Developers Raising Rs 825Cr Through NCDs – Lodha Developers Ltd is raising Rs 825 crore to buy back debentures issued to Deutsche Bank. Lodha risks losing prime land in Mumbai if it doesn’t purchase the debentures. Deutsche Bank invested Rs. 1,640 crore in Lodha in 2007 by subscribing to fully convertible debentures, or FCDs, issued by the realty firm’s subsidiary Cowtown Land Development Pvt. Ltd. (Mint)
Corporation Bank To Raise IDFs – State-owned Corporation Bank today said it was drawing up plans to float an Infrastructure Debt Fund (IDF) and would soon approach its board for approval. Players such as IDBI, IIFCL, IDFC among others, who have already evinced interest for such a fund. (Business Standard)
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