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News Roundup: Stanchart PE, Temasek Eye Coffee Day Holdings

27 November, 2009

Stanchart PE, Temasek Eye Coffee Day Holdings – Stanchart Private Equity and Singapore-based Temasek are to invest $100-150 million (Rs 465-700 crore) in Bangalore-based Coffee Day Holdings, which has businesses worth nearly $1 billion. The company has Rs 1,700 crore expansion plan and is trying to raise PE funds for the same. The company will grow its plantations (coffee & banana) by investing Rs 200 crore, while the retailing business will absorb close to Rs 700 crore and infrastructure development & SEZs will envisage an investment of another Rs 750 crore. (Business Standard)

New Silk Route Scouts For Five $100m Investments – PE firm New Silk Route Mauritius plans to deploy $500 million in India. The company is looking at five deals with a ticket size of $100 million per deal in manufacturing, telecom infrastructure, infrastructure, financial services and consumer oriented sectors. The firm has so far done 10 deals worth $350 million in India. (Financial Chronicle)

Patni Computer Systems’ Founder Sells 3,83,000 Shares – Founders of Patni Computer Systems Ltd have sold 3,83,000 shares in the company through open market sale. Over the last few days, there has been speculation of a stake-sale by the company’s promoters. (DNA)

Tata Steel May Sell Teesside Plant – Tata Steel is making an all-out effort to reduce its debt and expects to cut gross debt level by $2 billion in 12 months. Teesside Cast Products’ second-quarter earnings showed Rs 800 crore loss before interest, tax, depreciation and amortisation (EBITDA). (DNA)

Telstra To Increase Stake In Telstra Telecomm – Telstra Holdings, a subsidiary of Telstra, has applied to the Foreign Investment Promotion Board (FIPB) for increasing its stake in the Indian company, Telstra Telecommunications from 49% to 74%.The company’s current 51% stake holder is India’s Microland Investments.(Busines Standard)

ONGC Eyes 20-25% Stake In Iranian Gas Field – ONGC is eyeing a 20-25% stake in a $7.5 billion giant Iranian gas field, South Pars Phase-12 (SP-12) project. The company also shows interest for the offshore Farsi gas fields for which it, along with IndianOil and Oil India, has submitted a $5-billion development plan.(Business Standard)

Malaysian Realtor To Tap Up To $50 Mn In India – Malaysian conglomerate Ascenteus Holdings is looking to raise $40 million – $50 million (Rs 185 crore – Rs 235 crore) PE funding from India to part-fund its $400-million mega residential project coming up in Kuala Lumpur. Much of the working capital generation for the project will be through the pre-sales route. The company holds 70% of the total equity in the project, with the Malaysian government owning the rest. (Business Standard)

BSNL, MTNL Not Serious About Zain, Says Govt – BSNL and MTNL are not seriously considering being a part of the consortium led by Delhi-based Vavasi Group, who along with its Malaysian partner Al Bukhary, had signed an exclusive agreement with the Kharafi Group to buy out a 46% stake in Zain Telecom for $13.7 billion (nearly Rs 64,000 crore). The companies have cash reerve of  Rs 41,471 crore. (Business Standard)

Gati Mulls Biz Restructuring – Gati is exploring options to re-align and restructure its business to meet the increasing demand for logistics services in the country. Gati covers over 3.2 lakh km everyday, with connections to 603 districts across the country. (Business Line)

Sunteck Realty To Raise Rs 500 Cr – Real estate developer Sunteck Realty proposes to raise up to Rs 500 crore through the qualified institutional placement route. (Business Line)

GMR To Raise $450 Mn – GMR Group is in talks with private equity funds 3i Investments and Macquaire-SBI Infrastructure to raise $450 million ( Rs 2.11 billion) in GMR Airport Holdings. The company will sell a minority stake in the airport subsidiary for thier expansion plans in infrastructure and power and other business which will be of $650 million. The airport business accounts for 45% of the company’s revenue. The company has also signed an MoU with the government of Maldives for feasibility study of new airport project there. (Economic Times)

Murdoch Son Sells Half Of News Corp Stock, Buys Radio Co – News Corp Chief Executive Rupert Murdoch’s sons sold about $27.6 million of his shares of the media company as his investment company purchased a large stake in an Australian radio broadcaster. The deal was worth about $110 million. (Reuters)


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News Roundup: Stanchart PE, Temasek Eye Coffee Day Holdings

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