PE Firm To Buy 10% In Asianet - Mauritius-based private equity fund SIDOFI Communication Investment is all set to buy nearly 10% strategic stake in Kerala-based broadcaster Asianet Communication Ltd (ACL), which is backed by leading broadcaster Star TV India. SIDOFI will buy this stake from Americorp Ventures, which bought 9.33% stake in Asianet in 2005 at a reported amount of Rs 6.6 crore. (Financial Express)

JPMorgan Eyes Narayana Hrudayalaya Exit - J P Morgan may be looking at an exit from the Bangalore-based Narayana Hrudayalaya, once the lock-in period gets over by February 2011. The PE arm of J P Morgan had invested Rs 200 crore during February 2008 with same amount invested by AIG. The two investors together hold 25% in the cardiac care specialty hospital chain. (Business Standard)

PVR To Sell Phoenix Property - Film exhibitor PVR has put its multiplex at Phoenix Mill mall in central Mumbai on the block with a price tag of Rs 80-100 crore. PVR plans to sell the property and take it back on lease and expects to close the transaction by this financial year. (Economic Times)

Indiabulls, ArcelorMittal Form Mining JV - Indiabulls Real Estate and LN Mittal’s ArcelorMittal will form a joint venture for mining coal and iron ore. The move is aimed at owning captive mines for the two companies’ businesses. Indiabulls has power plants, while ArcelorMittal is the world’s largest steelmaker. (ET)

Applabs Plans $50M Buyout - AppLabs, which has its global delivery centre in Hyderabad, is planning to acquire a US-based company for about $50 million. The move is primarily targeted at acquiring talent pool which would help Applabs plug a key requirement. (BS)

Infrasoft Plans IPO, Acquisitions - Midcap IT player Infrasoft Technologies, where Baring India has a majority stake, may eye options to tap the capital markets. Infrasoft plans large scale acquisitions in the US, Europe and Canada and is also looking at several niche acquisitions. In the current fiscal, they could be looking at more than one acquisition. (Moneycontrol)

Zensar Tech Plans Acquisitions - Zensar Technologies is planning to acquire two to three IT firms in the current financial year. The company is looking to buy companies in US in the infrastructure management or application support. Zensar would spend around $100 million (INR 4.6 billion) for acquisition and potentially look at $60-$70 million companies. (Moneycontrol)

Avantha, Ergo In Talks For JV - Avantha Group has entered into an agreement with Germany’s Munich Re group’s direct insurance arm ERGO to pursue discussions for a life insurance joint venture. The two parties  would hold discussions exclusively. In May 2008, ERGO had signed a JV with Hero Group, but the group decided to maintain its focus on is core business after the economic meltdown. (ET)

VC Fund For Energy Efficieny On Anvil - The Bureau of Energy Efficiency has commenced the groundwork for setting up a dedicated venture capital fund for providing equity for energy-efficiency projects, especially last mile equity support. The move is part of the regulatory and fiscal incentives being put in place to create the market for energy efficiency, which is estimated to be about Rs 74,000 crore. (HBL)

Shipping Corp Eyes Stakes In Shipyards - Local shipbuilders like ABG Shipyard, Bharathi Shipyard, Cohin Shipyard, Pipavav Shipyard and Larsen and Toubro are expected to participate in Shipping Corporations bid to buy minority stakes in shipyards. The stake buys will help Shipping Corp to get nerths for building ships at competitive rates, thus improving its IRR and help it compete.

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