Tata Capital Enters Fray For Thomas Cook – Tata Capital, the financial arm of the Tata Group, is the latest contender in the race for a buyout of Thomas Cook India. Private equity investors Kohlberg Kravis Roberts (KKR), Carlyle, and Travelex are among the known bidders.Thomas Cook Group PLC is in the process of selling its 77.1 per cent shareholding in Thomas Cook (India) Ltd (TCIL). (Business Line)
HSBC PE, ePlanet To Exit Trivitron – HSBC Private Equity and ePlanet Capital are planning to sell their stake in Chennai-based medical diagnostics firm Trivitron Healthcare. Both PE firms had invested close to $11 million in Trivitron Healthcare in 2007, picking up minority stake in the company. Trivitron Healthcare is one of India’s largest medical technology company, involved in designing and manufacturing of medical devices. (Economic Times)
Gini & Jony Eyes Stake Sale As Reliance Capital Seeks Exit – Financial investors, including Anil Ambani’s Reliance Capital ( Rel Cap), are pushing for an exit from homegrown kidswear retailer Gini & Jony, possibly leading to a strategic sale of the company which went through a corporate debt restructuring (CDR) last year. Strategic buyers such as Arvind and Madura Fashion & Lifestyle were approached with a proposal to offload 70% stake for Rs 350 crore. (Times of India)
Concord Enviro To Raise $100M – Concord Enviro Systems (CES), a waste-water treatment company, is looking to divest a significant stake to raise fresh capital of about $100 million. The Mumbai-based company has commenced talks with large water companies in the US, Europe and Japan as well as a few global natural resource-focused funds. CES has mandated boutique investment bank Singhi Advisors to facilitate the transaction. (Economic Times)
Suzlon CFO’s Exit Sparks FCCB Default Fears – Fears that the loss-making Suzlon Energy may default on repayment of foreign currency convertible bonds worth $569 million have been aggravated after the resignation of Robin Banerjee, who was an integral part of the company’s fund mobilisation initiatives as the chief financial officer. Analysts are linking the CFOs exit to the company’s approaching deadline to repay foreign currency convertible bondholders $360 million in June and $209 million in October. (Economic Times)
Bajaj Ups Stake In KTM – Bajaj Auto, India’s second-largest two-wheeler maker, has tightened its hold on KTM Power Sports by buying another 6.3%, taking it stake in the Austrian motorcycle to a little over 47%. The company purchased this stake from one of the key stake holders through an open market transaction recently. (Economic Times)
RIL, Siemens May Snap JV – The grand partnership for homeland security between Reliance Industries and global engineering and electronics giant Siemens may be coming apart in just six months, even before it could formally take off. Serious differences are believed to have cropped up over strategic and operational issues from technology transfer and sharing to equity structuring of the special purpose vehicles (SPVs) that were planned. (Business Standard)
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