Sanofi In Advanced Talks To Buy Universal Medicare – Sanofi-Aventis is in advanced talks for a strategic tie-up with nutraceuticals firm Universal Medicare, maker of popular codliver oil capsules brand Seacod, which will help the French drugmaker scale up its over-the-counter (OTC) business in India. Sanofi-Aventis may buy a majority stake or key brands valuing the Indian company at around Rs 450 crore. The privately-held Indian drugmaker, owned by Vikram Tannan and family, has annual sales of Rs 100 crore. (Economic Times)
JFE To Increase Stake In JSW – Japan’s JFE Corp is planning to increase its shareholding in the Sajjan Jindal-controlled JSW Steel to meet corporate norms. The move will allow international steelmaker to consolidate earnings from JSW into the Japanese company’s balance sheet. JFE, the world’s fifth-largest steelmaker, paid $1 billion last year to acquire 14.9% stake in JSW. (Economic Times)
TPG, Carlyle & Blackstone May Team Up For Telco Tower Buy – TPG Capital, Carlyle Group and possibly Blackstone have explored a joint acquisition of the troubled Indian telecom tower assets. The discussions centered on looking at consolidating two or three telcos and running them under an independent management. The tower companies that are targeted for this consolidation include Reliance Infratel and GTL Infra. (Times of India)
Aditya Birla Minacs Eyes PE Funding – The diversified Aditya Birla Group is looking to unlock value for its BPO-IT business, Aditya Birla Minacs. The group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium. Investment bank UBS is believed to have reached out to marquee fund houses and strategic investors for an initial due diligence exercise. (Business Standard)
UCX Seeks Six Month Extension To Sell 16% Stake – Technology firm IT People-promoted Universal Commodity Exchange (UCX) has sought a six-month extension to comply with the mandatory regulatory guidelines completely. The exchange has so far failed to discover a public sector undertaking (PSU) which can buy 16 per cent stake in it. Early in July, IDBI Bank bought 10 per cent stake in UCX, at par, by paying Rs 10 crore with a deal value of the exchange at Rs 100 crore. (Business Standard)
Kuoni Eyes Acquisitions – Kuoni Travel Group India Pvt. Ltd, a unit of Zurich-based Kuoni Travel Holding Ltd, is looking to buy at least three specialized travel companies over the next year. These acquisitions could cost anywhere between Rs.10 crore and Rs.300 crore. Kuoni India wants to acquire companies that provide package tours, organize meetings, conferences and exhibitions for companies, and provide travel-related services such as organizing visas.
Avekshaa Eyes $10M Buyout – Bangalore-based Avekshaa Technologies, an architecture-led IT consulting and services startup floated by former senior executives at Infosys, is looking at acquiring either a security company or a performance and scalability testing firm in the US for $10 million (approximately Rs 45 crore). The company would raise a venture capital funding to carry out the buyout deal. (Business Standard)
Shriram Properties To Raise $125 At Project Level – Private equity arms of JP Morgan, IL&FS and Morgan Stanley may invest $125 million in Shriram Properties, which wants to refinance projects under development and acquire distressed real estate assets. Bangalore-based Shriram Properties is the real estate arm of Rs 25,000-crore Shriram Group, but has TPG, Starwood and Walton Street Capital as large shareholders. (Times of India)
TPG In Talks To INvest In SpiceJet – Private equity firm TPG Capital, which made a ten-fold profit from investment in Continental Airlines in the US, is negotiating to buy a minority stake in SpiceJet which plans to expand under new owner Kalanithi Maran. SpiceJet, owned by the promoter of south India’s biggest media company Sun TV, has been working on raising $270 million to fund purchase of aircraft that will help it gain market share in feeding the fast growing smaller cities. (Economic Times)
IMImobile In Talks For $80M Acquisition – Hyderabad-based IMImobile, which remotely delivers mobile data infrastructure services to the likes of MTN, Vodafone Plc and Deutsche Telekom, is in advanced talks to snap up a US mobile data company for roughly $80 million. The target company, it is learnt, has close relationships with AT&T and Verizon, and IMImobile is looking to take the acquisitions route to enter the US and Canada markets over the next six months. (Economic Times)
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