Sutherland, Genpact May Buy Apollo’s BPO In $220M Deal – Back office majors Sutherland Global Services and Genpact are in the final race to acquire Apollo Health Street, the healthcare business process outsourcing (BPO) arm of Apollo Hospitals, in a deal valued at over Rs 1,100 crore ($220 million). Apollo Hospitals and associates hold about 54% stake, while Temasek Holdings, One Equity Partners and other financial investors have the remaining shares in the 12-year-old BPO firm. The transaction is expected to value Apollo Health Street at about two times revenue, which is estimated at a little over $100 million. (Times of India)
Blackstone, Bain Eye Euronet’s ATM Business In India – Private equity funds Blackstone Group and Bain Capital are negotiating to buyout the Automated Teller Machines business of Euronet Worldwide in India to benefit from rising use of electronic transactions. Euronet is the biggest third-party operator of shares ATMs across the nation. The India business, where it operates more than 1,300 ATMs, could be valued as high as $250 million. (Economic Times)
Jacob Ballas, QInvest Might Pick Up Stake In SRL – Two private equity PE firms, including International Finance Corporation, are close to buying over 15-20% stake in India’s largest diagnostic chain Super Religare Laboratories (SRL) ahead of its planned public issue. IFC has a tentative agreement to invest around Rs 125 crore, while either Jacob Ballas Capital or Qatar-based QInvest will invest Rs 150 crore. (Economic Times)
Kotak Realty Invests Rs 120Cr In Parsvnath – Parsvnath Developers is raising Rs 120 crore from Kotak Realty Fund for a new 100-acre integrated township project on Sohna Road in Gurgaon. Kotak Realty fund will get a 20% stake in the special purpose vehicle that will develop the yet unnamed project. The project will be largely residential in nature with some commercial and retail developments, and will be launched in the next two months. (Economic Times)
Unitech Agrees To Sell Uninor Stake – The Unitech Group has agreed in principle to sell its stake in Uninor to joint venture partner Telenor at a fair value. The proposal was made before the Company Law Board (CLB) by Unitech lawyers on Monday in a closed-door meeting. The CLB had last week asked Unitech to decide by March 19 if it wanted to buy Telenor’s 67 per cent stake in Uninor or sell its 33 per cent stake to the Norwegian partner. (Business Standard)
Donald D’Souza To Head HDFC Bank ECM – HDFC Bank has appointed Donald D’Souza as the Head of Equity Capital Markets in the Investment Banking division. D’Souza will be reporting to Mr Rakesh Singh, Head of Investment Banking at HDFC Bank. D’Souza will be responsible for building the equity capital markets business that includes origination and execution of capital-raising mandates. (Business Line)
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