PE Majors In Race For Sony Entertainment - Private equity majors like Providence, Carlyle, Bain and Standard Chartered PE are in the race to buy a $225-250 million stake in broadcast network Multi Screen Media (MSM). The new investor would get 42% stake, which comprises 10% of the parent Sony and 32% stake of Indian promoters, who have been seeking an exit for more than a year. (Economic Times)

L&T Plans $600 Mn QIP - Larsen and Toubro (L&T), the engineering and construction major, plans to raise about $600 million (approximately Rs 2,800 crore) through the qualified nstitutional placement (QIP) route. The QIP issue would be completed within 12 months and the funds will be used for the expansion plans of the company. (Business Standard)

Unitech To Sell Tower Business - India's second-largest real estate developer Unitech Ltd plans to sell its telecom tower making business for Rs 700-750 crore. The deal would be part of its deleveraging exercise, in which its selling non-core assets like hotels, commercial properties and land plots to reduce its debt. The telecom tower manufacturing facility is based out of Nagpur, which was initially operated through a tie-up with Hyundai, but the partners stake was later acquired Unitech. (DNA)

Godrej Consumer Earmarks Up To Rs 1,000-cr For Acquisitions - FMCG major Godrej Consumer Products Ltd has earmarked up to Rs 1,000-crore for acquisitions in emerging markets like Asia, Africa and Latin America. GCPL, which has 25 per cent of its revenues coming from outside India, is currently looking at acquisitions internationally and domestically in high-growth markets. It aims to double its market reach in rural areas in the next three years as it expects high growth led by development in agriculture and infrastructure. (Economic Times)  

Danny Denzongpa’s Co Acquires Assam’s Rhino Breweries – Bollywood star Danny Denzongpa owned Yuksom Breweries has acquired Rhino Breweries in Assam in a move thwarting industry leader United Breweries’ (UB) plans for a bigger play in North East (NE) markets. Yuksom is learnt to have paid over Rs 40 crore for the brewery that started operations only two months back. Yuksom, which has three breweries in Sikkim, Orissa and Assam, sells over three million cases making it one of the few independent survivors in an industry carved up between UB and SABMiller. (ET

Merc To Invest Rs150 Cr For Expansion - Mercedes-Benz India has indicated to invest Rs 150 crore (Rs 1.5 billion) in network expansion and upgradation of network partners during this financial year. The company has an extensive network across 25 cities in India with more than 45 touch points. During the first half of the year 2009, the company sold 1,500 cars and is confident that the second half of the FY would have better sales results as compared to the first half. (Rediff)

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