Quippo Bids Rs 3,000Cr For Banglalink’s Tower Biz – SREI group-promoted Quippo has made a nearly Rs 3,000-crore bid for the tower business of Bangladesh’s second-largest mobile operator, Banglalink. Banglalink, a subsidiary of Egypt-based Orascom Telecom, owns about 5,200 towers. Viom Networks, majority owned by Tata Teleservices and managed by the SREI group, will receive a tower management contract on the back of the acquisition. (Economic Times)
Tata Communication In Talks For Stake In Prizm Payments – Tata Communications is negotiating to buy a substantial stake in Chennai-based Prizm Payments Services in order to expand its payment services business. The Tata Group company has appointed the investment banking arm of Standard Chartered Bank to act as its advisor. Prizm, which deploys and manages ATMs and runs payment services for credit cards, plans to raise between Rs 500-600 crore from a strategic investor to fund its expansion plans. (Economic Times)
Blackstone, Bain Capital In Talks For SpiceJet Stake – Low-cost carrier SpiceJet Ltd is planning to raise funds from private equity (PE) companies such as The Blackstone Group and Bain Capital, and other potential investors including foreign airlines. (Business Standard)
Reliance Capital Backs Grover Vineyards, Valle de Vin Merger – Anil Ambani Group company Reliance Capital is backing a merger deal between Grover Vineyards and smaller rival Valle de Vin to create India’s second largest wine company. The financial services company will join Singapore-based wine investor Ravi Viswanathan as a key stakeholder in the combined entity, Grover Zampa Wines. The merger creates a new challenger to industry leader Sula Vineyards in the still nascent domestic wine market swelling over 1.5 million cases annually. (Times of India)
AV Birla, Lafarge Look To Buy JP Cement Plants – The AV Birla Group and French cement giant Lafarge are in talks to buy out Jaiprakash Associates’ cement plants in Gujarat and Andhra Pradesh, after the New Delhi-based company decided to spin off the assets into a separate company to attract buyers willing to pay a premium. Holcim, another large contender, is also believed to be in the race. (Economic Times)
Hospitality Co Mantis Enters India Via JV With ICS – South Africa-based hospitality major Mantis Collection is venturing into the Indian market and has entered into a joint venture with ICS Group to develop and operate boutique luxury hotels in the Indian sub-continent and South-East Asia. The Mantis-ICS Group joint venture, to be known as Ayana, is planning to have at least 30 properties under its operation in the next 10 years. (Economic Times)
Tata Group Looks To Exit Advinus – Tata Group-owned drug discovery and services firm Advinus Therapeutics has initiated talks with a few foreign drug companies that could lead to the salt-to-software conglomerate exiting the company completely or selling its new molecule research business. At least three MNCs – Eli Lilly, Daiichi Sankyo and Takeda Pharmaceuticals – have showed interest in buying the drug discovery unit located at Pune. (Economic Times)
Leave Your Comment
10 years ago
Tata Teleservices has announced merger of telecom tower arm with SREI Group...
9 years ago
SREI Group-promoted Quippo Telecom Infrastructure Ltd is planning to raise $300...
9 years ago
Wireless-tower operator American Tower Corporation is close to acquire...