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News Roundup: Reliance Infrastructure plans to exit non-metro airport business

07 September, 2012

Reliance Infrastructure plans to exit non-metro airport business: Reliance Infrastructure is looking for buyers for its unit that handles non-metro airport projects, people close to the development told ET. The company, promoted by billionaire Anil Ambani, has invested about Rs 100 crore in five non-metro, brownfield airport projects in Maharashtra through its subsidiary Reliance Airport Developers Private Ltd (RAPDL). (Economic Times)

IOB to raise another $1B MTN: Indian Overseas Bank (IOB), after having successfully raised a $1-billion Medium Term Note (MTN), has planned to raise another $1B (Rs 5,900 crore) to boost its credit abroad. “As the appetite for borrowing increases, we will go for another $1 billion MTN by next year,” M Narendra, chairman and managing director, told Business Standard. Time and price would depend on how the economy was improving, he added. (Business Standard)

Hero to buy into tech partners: Hero MotoCorp has decided to pick up minority equity stakes in three global technology partners to ensure its technology edge after the end of its 26-year joint venture agreement with Japan’s Honda Motor Corporation. (Business Standard)

Videocon among suitors for IPL team Deccan Chargers: Videocon Industries is one of the front runners to buy out Deccan Chargers, the Deccan Chronicle Holdings Ltd (DCHL)-owned Indian Premier League’s Hyderabad franchisee. DCHL, which is under severe financial crisis, issued a tender notice today inviting bids to sell the Deccan Chargers team, and Videocon, which was earlier also looking to own a team, is gearing up to bid. (Business Standard)

Ranbaxy plans to tap bond market to raise Rs 500Cr: Japanese drugmaker Daiichi Sankyo’s Indian subsidiary, Ranbaxy Laboratories, will access the Indian wholesale bond market to raise Rs 500 crore through a three-year issue. (Economic Times)

Courtesy: VCCEdge         


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News Roundup: Reliance Infrastructure plans to exit non-metro airport business

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