SRL Promoters To Buy Piramal’s Stake Before IPO – The promoters of Super Religare Laboratories (SRL), Malvinder and Shivinder Singh, may buyout Piramal Heathcare’s 10% stake in the country’s largest diagnostics chainbefore its IPO. Piramal Healthcare had picked up the minority stake after selling its pathology chain Piramal Diagnostics to SRL in a deal worth Rs 600 crore. SRL is country’s largest diagnostic chain with 170 laboratories and 1,500 collection centres. (Economic Times)
TCS Eyes Buys In Europe – India’s largest software firm Tata Consultancy Services (TCS) has been looking for acquisitions in Europe to increase its penetration in the market. TCS is looking for a medium-size company with a strong market presence in countries such as Germany and France. Cultural fit is one of the criteria the company will look for in continental Europe, which contributes close to 10% of its revenues. (ET)
Tata DoCoMo Eyes Buyouts – NTT DoCoMo, along with its partner Tata Teleservices, will buy other Indian telecom operators for their assets, not subscribers, once regulatory framework becomes conducive to consolidation. India currently has 14 telecom operators compared with three or four elsewhere in the world. (ET)
Hinduja Group Bids For German Power Firm – The Hinduja Group has submitted a bid to acquire the fifth-largest power producer in Germany which could give it access to management capabilities and technology. This could be transferred to India, where the group is investing Rs. 45,000 crore to build 10,000MW of capacity. The Hinduja Group is in the running to acquire Steag AG, the power generation and distribution arm of Evonik Industries AG, valued at $4.1 billion. (Mint)
Wipro Consumer Arm Scouts For Emerging Market Buys – The consumer arm of Bangalore-based Wipro Ltd has identified the developing markets of Asia, Africa and West Asia as areas to scout for acquisitions. Wipro Consumer Care & Lighting (WCCL), whose revenues contribute 9% to the parent’s overall turnover, is on the lookout for buys in personal care, lighting and health & wellness. (Business Standard)
Ashok Leyland Eyes South America Buys – Ashok Leyland, a Hinduja Group company, is scouting for acquisition opportunities, mainly in the bus segment, in Latin America, North Africa and parts of Southeast Asia. The firm is looking at buys for access to technology, new markets and customers. In July, Leyland entered into an agreement with UK-based bus manufacturer Optare to acquire 26% stake for $7.5 million.(BS)
Orissa Minerals, Rio Tinto In JV Talks – State-run Orissa Minerals Development Company (OMDC), a part of the Bird Group of Companies under the ministry of steel is in discussions with world’s biggest mining company Rio Tinto for a joint venture in the state. The joint venture will be for the entire value chain, right from prospecting and development to extraction.OMDC will be using Rio Tinto’s expertise for mining its reserves in Orissa. (DNA)
Sahara Prime IPO After Market Improves – Sahara India Group will wait for the market conditions to turn favourable for the real estate sector before taking its realty arm public. Sahara’s real estate company, Sahara Prime City Ltd (SPCL), has been mulling an Initial Public Offering (IPO) to raise funds from the capital market and filed DRHP with SEBI last October. (ET)
Sanjeev Chadha to make way for Manu Anand at PepsiCo India : PepsiCo on Monday announced the appointment of Manu Anand as its new India-Head following the promotion of incumbent Chairman and CEO Sanjeev Chadha as chief of the global beverage and snacks giant’s Middle East and Africa operations with effect from January 1, 2011. (Hindu)
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