Temasek To Sell 3.5% Stake In ICICI Bank - Temasek Holdings, an investment arm of the Government of Singapore, is looking to offload nearly 3.5% of its stake in ICICI Bank, worth about Rs 3,000 crore, or about $600 million at current market prices. The Singapore government arm has been looking for buyers for about three months, but two foreign broking houses which were mandated by the firm are yet to find a suitable institution willing to acquire this chunk at a price that is acceptable to both the buyer and the seller. (Times of India)

Axiata In Talks To Buy Stake In Tikona - Axiata, Malaysia’s leading telco operator, is in talks to buy out a stake in broadband wireless access (BWA) operator Tikona Digital Networks Ltd as part of its strategy to increase presence in the Indian telecom sweepstakes. The Malaysian telco is in talks with Goldman Sachs (the largest shareholder), Oak Investment Partners and Everstone Capital Advisors which together hold 70 per cent stake in the company. Other investors include L&T Infrastructure and Anand Rathi Securities. (Business Standard)

LVMH Sealing Deal With FabIndia - The last word in luxury is wooing the most marquee ethnic wear chain in India. L Capital Asia, the private equity arm of the world’s biggest luxury conglomerate, LVMH Group, is in discussion with Fabindia, to acquire a minority stake in the retailer. Fabindia, one of India’s most profitable retail companies, has been looking to raise Rs 200 crore to fund its expansion and existing operations through a round of fresh equity investments and by buying out the eight per cent stake held by Wolfensohn Capital Partners. (Business Standard)

Sahara Eyes Stake In Nimbus - The race to pick up a strategic stake in the two sports channel of Nimbus Communications, Neo Cricket and Neo Sports, is hotting up. Nimbus and its investment bankers mandated to find a partner, Barclays Capital and Avendus, sounded out Sahara about the offer and details of it were expected to be sent to the company soon. The move came on the heels of Bennett, Coleman & Co Ltd showing interest in buying a stake in the channels. (Business Standard)

Dishman Acquires Creapharm - Dishman Pharmaceuticals and Chemicals today said its Switzerland-based subsidiary Carbogen Amcis AG has acquired Creapharm Parenterals for an undisclosed amount. As part of this acquisition, Creapharm Parenterals, a contract development and manufacturing firm, has changed its name to Carbogen Amics SAS. (Economic Times)

Gail Pulls Out Of Gujarat Gas Bid - State-run Gail India finds the valuation of BG's stake in Gujarat Gas Co too high to make business sense to be in the race as the company has a market capitalisation of Rs 5,000 crore and annual net profit is about Rs 250 crore. Gail, which aspires to be a countrywide player in the city gas distribution domain through its subsidiary Gail Gas Ltd, had initially considered acquiring BG's 65.12% stake in Gujarat Gas.  (Economic Times)

Strides Looks For Buyers In Japan - Bangalore-based Strides Arcolab is looking for buyers for its business in the Japanese market. Strides has given a mandate to Daiwa Capital to scout for buyers from the East Asian nation. The Rs 1,700-crore Strides had earlier appointed US-based Jefferies to identify buyers from all other global markets, except Japan. Although Strides has plans to sell its pharma and branded generic business that fetches it a revenue of Rs 1,075 crore, the company will retain its other business — injectables. (Business Standard)

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