| Log in

News Roundup: Suitors For Gujarat Gas May Join Hands

13 February, 2012

Suitors For Gujarat Gas May Join Hands – The suitors to acquire BG’s 65.12 per cent stake in Gujarat Gas are busy finalising strategy as the dates for final ‘binding bids’ for the controlling stake draw closer. Some have started exploring partnership opportunities and joint bids to improve their prospects and reduce competition. Current bidders include GDF Suez, Bharat Petroleum (BPCL), Gujarat State Petroleum Corporation,  Oil and Natural Gas Corporation (ONGC),  Torrent Power, the Adani Group and PE firm Actis. (Business Standard)

Godrej Properties To Raise Rs 600Cr – Godrej Properties Limited, the real estate arm of the Godrej Group, is planning to raise Rs 500-600 crore through the institutional placement programme (IPP). The move is aimed at reducing its outstanding debt, which is around Rs 2,000 crore. Promoters of Godrej Properties are planning to dilute their stake from the current around 84 per cent to 75 per cent through the IPP. (Business Standard)

Yes Bank Seeks $75M From IFC – YES Bank has approached the World Bank group member, International Finance Corpor-ation (IFC), for a $75-million loan to augment its capital base and to prepare it for Basel-III implementation. The loan has been sought to improve the maturity mismatch position and grow assets, increase reach and improve market share, especially in the small and medium enterprise and agricultural space. (Business Standard)

Unity Infraprojects To Raise Rs 75Cr Funding – Unity Infraprojects has initiated discussions with some private equity firms for raising up to Rs 175 crore under two special purpose vehicles (SPVs) and hopes the deals to be through in three months from now. The company has identified one real estate and a transportation project in which it would dilute its stake to private equity firms. (Business Line)

French Firm Auchan Eyes Landmark JV – French retail giant Auchan, touted as Wal-Mart’s most aggressive global rival, has held talks with Micky Jagtiani’s Landmark Group for a possible India entry. The ongoing discussions centered around a potential joint venture but the final agreement would depend on whether India moves ahead with plans for FDI in multi-brand retail. Auchan is fully owned by one of the wealthiest French families, the Mulliez. (Times of India)

Ocean Sparkle To Form JV For Offshore Vessel Supply – Port operations and marine services company Ocean Sparkle Ltd has decided to enter the offshore vessel supply market on its own after dropping plans in January to buy TAG Offshore Ltd. Hyderabad-based Ocean Sparkle had carried out due diligence for a possible take-over of TAG Offshore, a Mumbai-based firm that runs a fleet of 14 ships used to support offshore oil exploration activities.


Leave Your Comment
BG Group to sell stake in Gujarat Gas for $470M

BG Group to sell stake in Gujarat Gas for $470M

TEAM VCC 5 years ago
BG Group is selling its majority stake in public listed Gujarat Gas Company...
News Roundup: Milestone Re-approaches Dewan Housing For Buyout

News Roundup: Milestone Re-approaches Dewan Housing For Buyout

TEAM VCC 6 years ago
Milestone Re-approaches Dewan Housing For Buyout – Patience may well pay...
News Roundup: Naturals Salon looks to raise Rs 100Cr PE funding

News Roundup: Naturals Salon looks to raise Rs 100Cr PE funding

TEAM VCC 5 years ago
Naturals Salon Looks To Raise Rs 100Cr PE Funding – Venus Spa and Salon....
No Comments

News Roundup: Suitors For Gujarat Gas May Join Hands

Powered by WordPress.com VIP