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News Roundup: Tata Global In Talks With PE Firms To Raise $200M

10 November, 2010

Tata Global In Talks With PE Firms To Raise $200M – Tata Global Beverages (TGB) is planning to raise $200 million from private equity investors by selling a stake in its UK arm and is being advised by investment banking firm Rothschild. The UK subsidiary Tetley could sell a minority stake of around 12% to private equity players. The world’s second-largest branded tea maker acquired UK-based Tetley for $407 million in 2000 and now contributes over two-third of the group’s total turnover. (Economic Times)

Aditya Birla Evonik’s Carbon Black Unit – The Aditya Birla Group firm Aditya Birla Nuvo may bid for the carbon black division of Germany’s Evonik Industries. The division, with annual sales of $1.3 billion and 1,700 employees across 12 countries, is the second largest in the world and could around $1.25 billion. AB Nuvo officials have been approached by bankers to buy out the carbon black division. In September, Evonik had identified the division as non-core and finalised plans to divest it. (Business Standard)

Indiareit New Funds To Raise Rs 1,350Cr – Indiareit Fund Advisors Pvt. Ltd, the real estate fund promoted by Piramal group chairman Ajay Piramal plans to raise around Rs.1,350 crore in a debt fund and a rental yield fund early next year. The debt fund will lend to property developers and the rental yield fund will invest in information technology parks and commercial offices in Mumbai, Bangalore, Pune, Chennai, Hyderabad and New Delhi.

FIPB Gives GMR Airport, Jet Airways FDI Nod – The Foreign Investment Promotion Board (FIPB) is understood to have given its nod to foreign investment proposals of GMR Airports ($200 million), and Jet Airways ($400 million), among others last week. This will pave way for Jet Airways to not only fund its expansion through the QIP but also help to reduce debt burden which is estimated to be around Rs 15,000 crore. The move will also help GMR Airport Holdings fund its expansion plans by raising Rs 960 crore from Macquarie SBI Infrastructure Investments by offloading 39.05% stake.  (Financial Express)

IVRCL Assest Plans Rs 600Cr QIP – Hyderabad-headquartered IVRCL Assets and Holdings may sell up to 49% stake in three of its road projects to garner funds for future projects and raise Rs600 crore through qualified institutional placement (QIP) of shares by March. IVRCL recently raised Rs150 crore by placing 1.2 crore shares with private equity fund Ascent India Fund. (ET)

US Power Firm AES To List Local Unit In India – American power major AES Corp plans to list its local subsidiary in India in the next three to four years and raise debt from the local market to fund its ambitious $15-billion plan to expand its capacity to 10,000 megawatt (MW).  (ET)

GoAir In Talks To Raise $100M – Wadia group-promoted budget air-carrier GoAir is in the process of raising around $100 million to fund its aircraft acquisition programme. The airline is currently in talks with financial institutions and a deal is expected to be arrived at over the next two-three months. GoAir plans to take delivery of another 10 aircraft over the next three years. (BS)

Chevron Buys RIL Shale Gas Partner Atlas – Chevron Corp’s decision to buy US natural gas producer Atlas Energy has brought the former partners Chevron and Reliance Industries Ltd  together, after the American company had exited Reliance Petroleum in April last year.

Chevron will take over Atlas’s role as the operator of a joint venture in the Marcellus shale gas assets, with RIL having 40% stake (or approximately 137,000 acres) in the project. (BS)

Himatsingka Seide To Raise Rs 150Cr – Himatsingka Seide Ltd (HSL), the Bangalore-based home textiles company, is planning to raise up to Rs150 crore to fund its expansion programme. The company’s board is meeting here on November 11 to take a decision on the ways and means to raise the money. (BS)


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News Roundup: Tata Global In Talks With PE Firms To Raise $200M

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