BSNL Seeks Sharp Cut In Zain Price – State-run telecom operator Bharat Sanchar Nigam Ltd (BSNL) is not ready to pay more than $10 billion for the 46% equity in Kuwait’s Zain Telecom. The price is much lower than the $13.7 billion tag that the Kharafi family has attached to it. BSNL chairman and MD Kuldeep Goyal said the deal will be very expensive at the current price. Zain is operational in 22 countries in Africa and Central Asia with 70 million subscribers. (Business Standard)
Voith Acquires L&T Stake In JV Arm – German engineering company Voith has acquired the entire stake held by its joint venture partner, Larsen & Toubro (L&T), in Kolkata-based Voith Paper Technology for an undisclosed amount. Before the transaction, both the companies were in equal partnership with 50% stake each in the joint-venture. Voith plans to work closely with its long-term joint venture partner L&T in the field of manufacturing of machineries and equipment for pulp and paper production. (BS)
Areva In JV Talks With Bharat Forge – France’s Areva SA, the world’s largest supplier of nuclear reactors, is in joint venture talks with Bharat Forge Ltd. Both the companies plan to manufacture pressurised heavy water reactors as part of the JV. Bharat Forge already has a joint venture with Areva for nuclear forgings, for which it has shortlisted two locations at Dahej and Mundra in Gujarat. The reactor venture, which will involve an investment of around Rs1,000 crore, is expected to be housed in the same complex that will house the forgings company. (Mint)
Paramount In Talks To Buy Star Aviation – Chennai-based Paramount Airlines has sent feelers to a south-based regional carrier, Star Aviation, for a possible acquisition of the airline. Star Aviation got an operating licence in 2007, but has yet to start any flights. Paramount Airlines, which started operations in October 2005, operates five planes. It has also geared up to start operation for short-haul international routes in the next year, when it completes the mandatory five year pre-requisite to fly abroad. (BS)
TIME Scouts For Acquisitions – Hyderabad-based Triumphant Institute of Management Education (TIME), an education and test preparation institute, is currently evaluating proposals from some professional training institutes and schools for a possible acquisition. The institute has been approached by an English-speaking training institute and a school in the southern region for an acquisition. TIME has around 195 coaching centres in around 100 towns and cities across the country and plans to add 15-20 centres every year especially in Tier-III towns. It has posted a turnover of Rs 200 crore last year. (BS)
Integreon To Raise $100M To Fund Acquisitions – Knowledge process outsourcing (KPO) firm Integreon is looking to raise about $80-100 million through private equity to fund acquisitions in India and overseas. The company intends to complete fund-raising in the next six months. It provides outsourced knowledge, legal, and administrative support services mainly to banking, legal, consulting, IT and pharma firms in the US and Europe. The firm employs about 1,200 people at three delivery centres in India and plans to further up the headcount through an acquisition. The KPO recently added a 1,000-seat facility in Mumbai. (Yahoo News)
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