Summit Partners Looks To Exit Krishidhan Seeds -  Private equity firm Summit Partners is looking to exit its first investment in India in agricultural biotech firm Krishidhan Seeds, much before the traditional time period of five to seven years. The PE firm had invested $30 million (Rs 135 crore) in Krishidhan Seeds in 2010. The promoters of the firm will buy back PE’s stake for around Rs 155-160 crore, to be raised through debt. The deal is expected to come through over the next one month. (Financial Express)

Reliance Life Looks To Sell 5% To Bancassurance Partner - Reliance Life Insurance may offload 5% stake to banks while the insurer is in need of a partner to expand its base in bancassurance channel. Even as the company is already in talks with a few banks, it is scouting for a single partner of ‘critical size’.Reliance Life Insurance wants to cap the stake of the banking partner at 5%. Last year Japan’s top insurer and one of the world’s largest institutional investor, Nippon Life Insurance, acquired 26% stake in the company for Rs 3,062 crore. (Financial Express)

BPL Plans Comeback In Communication Biz, Eyes PE - BPL, which once ruled the Indian consumer appliances segment, is charting a measured comeback into the handset market. The Bangalore-based publicly-held company plans to invest up to Rs 40 crore in this segment. Part of the company’s reorganisation plans and the investments would be sourced partly from internal accruals or a private equity investor, and partly from disposing of non-core assets. (Business Standard)

Telenor Settles Rs 9.809cr Of Loans - Norwegian telecom major Telenor on Monday said it had settled the loans of its Indian joint venture, Uninor, amounting to Rs 9,809 crore. Uninor had raised short-term loans from Indian banks, which Telenor had guaranteed. Some of these lenders are known to have sent notices to the company. They have also turned down a request by Uninor to extend these loans. (Business Standard)

Bilcare Sells Business For $61M -  Bilcare Ltd, a company that provides pharmaceutical packaging solutions and manages supplies for clinical trials, has signed an agreement with United Drug plc for the sale of its global clinical supplies (GCS) businesses in the US and the UK. The $61-million deal is expected to become effective in a couple of months. GCS is one of three divisions of Bilcare and the company has retained this business in Asia. (Business Line)

Competition Panel Approves Sanlam's Stake Buy In Shriram -  Mauritius-based Sanlam Emerging Markets proposal to acquire 26 per cent in Shriram Financial ventures has got approval from the Competition Commission of India (CCI). The two parties to the combination had given a notice to the Commission on June 6. Sanlam Mauritius had proposed to hold not more than 26 per cent stake, through Shriram Chennai, in Shriram Capital Ltd. (Business Line)

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