Rabobank Buys 5% Stake In UCX – Dutch financial services group Rabobank has picked up a 5% in Universal Commodity Exchange (UCX) that is expected to go live over the next eight months. Rabobank will pick up the stake at a slight premium to the current share price of Rs10 since UCX has got an in-principle approval for going live. UCX is backed by Indian Farmers Fertiliser Cooperative, which holds 15% stake, IFCI Venture Capital Funds, Hafed and Rashtriya Chemicals and Fertilisers. (Economic Times)
Cholamandalam To Raise Rs 250Cr – Cholamandalam Investment and Finance Company (CIFCL), part of the Rs 14,000-crore Murugappa group, will raise Rs 250 crore through preferential allotment to a host of institutional investors. Six new investors would together pick up 8% stake on the expanded capital of the company. This comes after it raised Rs 100 crore from International Finance Corporation by diluting 9.9% stake. (Financial Express)
IFGL Refractories Buys 2 US Firms – IFGL Inc, the wholly owned US subsidiary of IFGL Refractories Ltd (IFGL), has acquired two US companies engaged in manufacturing and ancillary services in alumina graphite continuous casting refractories for $13 million. Ohio-based EI Ceramics LLC and CUSC International Ltd were bought as going concerns and free of long-term debts. The acquisition has largely been funded, to the extent of $10 million, with five-year loans from HDFC Bank and the balance from IFGL. (HinduBusinessLine)
Rivals May Join Hands For Paras Bid – Rival potential suitors of Ahmedabad-based Paras Pharmaceuticals are considering the option of co-bidding for the Rs 500-crore company and splitting the diversified assets between them. Actis Advisors and Sequoia Capital India Advisors, which together hold around 70% in Paras Pharma, plan to sell their stake in the company for more than $700 million. Morgan Stanley is expected to float expressions of interest to potential buyers next month. (ET)
Religare Hires Global Equity Head From Morgan – Religare Capital Markets has hired Jason Todd as global head of equity strategy from Morgan Stanley in New York. Todd was a US and global equity strategist and will move to Hong Kong for his new role. (Asian Investor)
Amrutanjan Healthcare Plans Buyouts – The promoters of Amrutanjan Healthcare Ltd will soon enter the food and beverages business by acquiring a company with a turnover of about Rs 20 crore. The firm is in talks with an established brand and plans to complete the deal soon. The Rs 100-crore company has also decided to diversify into pain clinics. (HBL)
NTC To Sell Land In Bangalore, Indore – After garnering about Rs 2,000 crore from the sale of about 10 acres of land in Mumbai’s prime locations, the National Textile Corporation (NTC) will put some of its properties in Bangalore and Indore on the block in October. NTC would be selling 16 acres at its Malwa Mill in Indore and 1.73 acres at the Minerva Mills in Bangalore. NTC has fixed a reserve price of Rs 60 crore for Malwa Mill and Rs 50 crore for Minerva Mill. (BS)
Brigade Sells Hospital Land – Brigade Enterprises has entered into an agreement for sale of the hospital building at Brigade Gateway Project at Malleshwaram, Bangalore, for a consideration of Rs 123.10 crore. The transaction should get completed within 90 days. (BSE)
Subex To Now Allot Shares To KBC Aldini Capital Mauritius – Bangalore-based software company Subex will now issue of upto 8 million equity shares to KBC Aldini Capital Mauritius Limited, instead of Rayed Holding & Finance S.A., for a price of Rs. 80/- per equity share. (BSE)
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