Tata Motors Buys Italian Design Firm - Tata Motors has acquired 80% stake in Italian design and engineering firm Trilix SRL, for 1.85 million euros (Rs 11.2 crore). The remaining 20% stake is equally held by its promoters Bryn Jones, Federico Muzio and Justyn Norek. "The acquisition will help enhance the company's styling and design capabilities to global standards," Tata Motors said in a statement. Trilix SRL offers design and engineering services in automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility, detailed engineering development. In 2009, Trillix had a turnover of 4 million euro with an EBIDTA of 5,40,000 euro and a profit after tax of 2,50,000 euro. (NSE)
AIG To Sell India MF Business - US insurer American International Group Inc (AIG) has entered talks with potential buyers to sell its mutual fund business in India, valuing the unit at 4-5% of the assets under management. Bank of America Merrill-Lynch has been appointed as the investment banker to AIG Global Investment Group Mutual Fund, which has Rs1,019.77 crore of assets. At least four asset management companies are in the race to acquire AIG’s mutual fund assets. (Mint)
Tata Comm To Acquire Suntel - Tata Communications (TCL) is set to acquire Sri Lanka’s second-largest land-based telephone company Suntel. TCL has received the approval of the government, which still owns 26% stake in the company. TCL intends to acquire 100% of Suntel, Sri Lanka, with a view to providing domestic data services wireless network and to access local customer business. (Economic Times)
Zylog Systems To Raise Rs 400Cr - Zylog Systems has got the shareholders approval to raise upto Rs 400 crore by issuing securities or equity-related instruments in the domestic or international markets through QIPs, FCCBs, ADRs or GDRs to finance its growth plans.The board of directors had earlier stated that acquisitions by the company could only be in specific markets including the US, Malaysia and Singapore targeting companies involved in e-governance, healthcare solutions and hospital management. (Financial Express)
Sistema Shyam IPO After Dec' 11 - Sistema Shyam, the Indian joint venture of Russia’s Sistema, is planning to come out with an initial public offer (IPO) in the fourth quarter of the next financial year. The company recently got $600 million (Rs 2,680 crore) investment from the government of Russian Federation, which will take around 18% stake in the venture. (Business Standard)
Suven Life Sciences To Raise Rs 90cr For R&D - Suven Life Sciences is planning to raise funding as one of its developed molecule is ready for the proof of concept stage and three more set to move into Phase-I of clinical trials. The company may also go for stake dilution to raise $20 million (Rs 90 crore) by the year-end to take forward the research and development of these four molecules. (BS)
Oberoi Realty Plans Rs 1k cr IPO - Real estate firm Oberoi Realty Ltd has fixed a price band of Rs 253-260 for its Rs 1000 crore ( $231.6 million) intial public offering. The issue, which will open on October 6 and close on October 8, will constitute 12% of the fully diluted post-issue paid-up share capital of the company. Kotak Mahindra Capital Company, Enam Securities, JP Morgan India and Morgan Stanley India. (DNA)
Taisho Leads Raise For Paras Pharma - Japan's Taisho Pharmaceuticals has emerged as the front-runner to buy a majority stake in by offering over six times the annual sales of Paras Pharmaceuticals, owned by by Actis and Sequoia Capital. Though discussions with Taisho have not gone to the extent of signing a so-called term sheet agreement, it is now the most likely buyer, unless a competitor outbids it. (ET)
Omnitech Close To $15M European Buy - Omnitech Infosolutions is planning to acquire Holland based IT firm for approximately $15 million in a deal expected to close in the next 30 days. The company is also planning for acquisitions in Europe, the US and UK over the next two years. The company would raise funds through QIP or private equity in another two months to fund its inorganic growth. (ET)
Tata Motors To Raise $525M Through QIP - Tata Motors Ltd. is planning to raise approximately $525 million through qualified institutional placement (QIP). The sale will include $200 million of ordinary shares and $325 million of ‘A’ shares, with an option to increase the ‘A’ shares sale to as much as $400 million. The funds would be used to restructure its debt. Citigroup Global Markets and Credit Suisse are advising Tata Motors on the issue. (Bloomberg)
