Tata, R Power eye stake in GSPC Pipavav Power: Energy majors including Tata Power, Reliance ADA’s Reliance Power and Sterlite Industries have shown interest for equity partnership of 49 per cent in the state-run GSPC Pipavav Power Company Ltd (GPPC), sources in the know informed. A subsidiary of Gujarat State Petroleum Corporation (GSPC), GPPC expects to raise around Rs 450 crore through equity partnership from private players, the company officials informed. (Business Standard)
Panacea Biotec may tap PE fund for hospital business expansion: Panacea Biotec, the Rs 700-crore drug and vaccine major, is betting big on hospitals. The New Delhi-based company is likely to tap private equity funding for its future expansions. It will launch its first multi-super specialty hospital early next year, and has larger plans for expanding into tier II, III cities of north India. (Business Standard)
Sonalika in talks for buyouts in Europe: The Delhi-based Sonalika group, with interests in tractors, agricultural equipment and engines, is in advanced talks with some European tractor-making companies, for a full acquisition of one of these businesses.The acquisition, expected to be completed in the next two months, is to be routed through the group’s flagship company, International Tractors (ITL). (Business Standard)
Uflex eyes packaging firms in US, Europe: Uflex Ltd, India’s largest flexible packaging company, is looking at 2-3 major acquisitions in the US and European markets. The company has already earmarked Rs 1,250 crore for fuelling its expansion plans in India and abroad, both organically and through buyouts. (Business Line)
Vedanta Aluminium may raise $500M to repay debt: Vedanta Aluminium, a unit of London-listed Vedanta Resources, plans to raise $500 million (about Rs 2,600 crore) to repay some of the group’s debt as it prepares to buy government’s stake in Balco and Hindustan Zinc, said two people familiar with the matter. (The Economic Times)
Air India to hit market with Rs 7,400Cr bond issue: Debt-laden national carrier Air India is set to hit the market with its Rs 7,400-crore bond issue soon, as the much delayed nod from the finance ministry to back the fund-raising exercise with unconditional government guarantee is expected within a fortnight, two sources close to the development told ET. (The Economic Times)
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