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News Roundup: Strides In Talks To Sell Major Businesses

13 December, 2011

Strides In Talks To Sell Major Businesses – Bangalore-based Strides Arcolab Ltd is in talks with foreign companies and private equity investors to divest a key part of its business. Strides, with revenue of around Rs. 2,000 crore, will retain its injectables business while selling all its other segments, both in India and abroad, at a deal size that would value the firm at Rs. 5,200 crore. Jefferies India has received the mandate to represent Strides in negotiations.

KDDL To Sell Stake In Swiss Watch Chain – KDDL Ltd, formerly known as Kamla Dials and Devices Ltd, is considering selling a stake in its Swiss watch retail chain Ethos to private equity investors or high net worth individuals to raise funds to expand its business. The retail chain requires $5 million (around Rs.25 crore) in investment and is interested in a long-term partnership of seven to eight years.

Tata Tele, Srei JV To Sell Stake – Tata Teleservices and SREI group are in talks with private equity players to sell stake in their joint venture, Viom Networks. Viom is India’s No. 2 telecom tower company after Indus Towers with 38,500 towers and the largest number of reported tenants per tower. Tatas and SREI group have interacted with at least two possible investors — Sumitomo Corporation of Japan and private equity company TPG Partners. (Economic Times)

Goldman Sachs Buys Stake In Max India – Goldman Sachs has bought a 6.47% stake in Max India Ltd for Rs 308 crore from Warburg Pincus, raising its total shareholding in the insurance and healthcare company to 15.6%. Last week, Goldman Sachs bought the shares from open market. Goldman Sachs is a long-term strategic investor and brings domain expertise, both in the financial services and healthcare businesses. (Economic Times)

HCL Eyes Acquisitions In Germany, UK – HCL Technologies, a provider of IT services whose clients include Deutsche Bank and GlaxoSmithKline, said the European debt crisis will help it to buy and partner with local firms. The New Delhi-based company targets deals in the Nordic countries, Germany and France because continental Europe. (Economic Times)

Canada’s International Breweries Eyes Acquisitions – Canadian brewer International Breweries is on the look out for brewery acquisitions in India and is rolling out its second brand Australian Draught in India. The around $40-million parent firm makes brands such as Australian Max and Canadian Blonde in Toronto. (Economic Times)


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News Roundup: Strides In Talks To Sell Major Businesses

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