Blackstone To Invest Another $100M In Power Sector – Blackstone Advisors India Pvt. Ltd may be close to finalizing a deal to invest around $100 million in Kolkata-based power producer Visa Power Ltd. Visa Power is part of the Rs5,000 crore Visa Group, with interests in steel, power, mining, commodities trading, shipping and logistics. (Mint)
TowerVision Exploring Sellout – Gurgaon-based independent telecom tower firm TowerVision India, owned by Israeli investor Fore Group, private equity firm Quadrangle and Morgan Stanley, has started exploring a possible sellout. The deal could value the tower assets at around $600 million. TowerVision has over 6,000 towers across 14 circles with over 9,500 tenants. Barclays Capital is advising TowerVision on various options. (Times of India)
Maharaja Whiteline To Sell 20% Stake To Investors – Home appliances maker Maharaja Whiteline is in preliminary talks with a host of foreign investors to sell up to 20% stake to fund its expansion in the domestic market. The Delhi-based firm is completely owned by Harish Kumar, who started it in 1976. Maharaja Whiteline makes more than 60 products across 18 categories including food processors, electric kettles and toasters. (Economic Times)
StanChart PE May Invest Rs 300Cr In Indu Projects – Standard Chartered Private Equity (SCPE) is in talks to invest Rs 300 crore in Hyderabad-based infrastructure solutions provider Indu Projects, picking up around 10%. The deal may involve SCPE acquiring the stake of some existing founder investors as well as infusing fresh capital into the company. (ToI)
Jyothy Labs To Buy 2 Regional Firms – Jyothy Laboratories, the multi-brand maker of various consumer products, is targeting two regional acquisitions this year for a total consideration of Rs 300 crore. The acquisitions will be in detergents and liquid blue space with the firm in talks with Kolkata-based Safechem Industries, maker of Safed detergent powder. The acquisitions will be funded through money raised via a qualified institutional placement (QIP) of Rs 228 crore done in August this year. (Business Standard)
Godrej To Buy Genteel, Swastik Brands – The Godrej group is said to have acquired two iconic consumer product brands, Genteel and Swastik Shikakai, from Mumbai-based Priya Kothari family, which is now said to be keen on focusing on its engineering business. Genteel and Swastik Shikakai jointly have an annual turnover of around Rs 30 crore. Consideration for buying out the two brands is around Rs 50 crore. (ToI)
Muthoot Pappachan To Buy MFI Firm – The diversified Kerala-based Muthoot Pappachan Group (MPG) is close to acquiring a leading microfinance player in the North. The group is conducting a due diligence on the target. MPG is willing to acquire stakes in micro-finance institutions (MFIs) in places where the group does not have a presence. MPG has a tie-up with the US-based Accion International, a leading international player in the micro-finance sector, for training and capacity building of micro-entrepreneurs. (HinduBusinessLine)
Apollo To Sell 49% In Pharma Retail Unit – Apollo Hospitals, the country’s largest private healthcare provider, is planning to divest 49% stake in its pharmacy chain division to generate growth funds before hiving it off into a separate company. The company would also explore the option of listing the unit. Revenues from the pharmacy business grew almost 40% to Rs 166.3 crore during the September quarter, compared to Rs 118.9 crore in the year-ago period. (BS)
Sanofi-Aventis Eyes OTC Acquisitions – French drug maker Sanofi-Aventis SA, which has identified consumer healthcare or the over-the-counter (OTC) drug business as a key area of growth in India, is scouting for brand and business acquisitions in the local market.
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