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News Roundup: Thomson Reuters in talks to buy Newswire18

07 August, 2012

Thomson Reuters In Talks To Buy Newswire18 – Thomson Reuters Corp. is in talks to buy a majority stake in NewsWire18 Pvt. Ltd in a transaction that values the latter at about Rs 150 crore. The group has been actively seeking partners in all its non-core businesses. NewsWire18’s revenue grew 4.54% to Rs. 11.5 crore in the three months ended 30 June, compared with Rs. 11 crore in the year-ago period. (Mint)

Japan’s Aeon In Talks With Indian Retailers – Two Indian grocery retail chains, which rely on the franchisee route to operate neighbourhood convenience stores, are understood to have opened stake sale negotiations with Aeon Co, the Japanese retailing and financial services behemoth, which reported revenues of $60 billion last year. Aeon Co is a diversified conglomerate and operates in various retail segments. (Business Standard)

Narayana Hrudayalaya JV To Invest $60M In Caymans – Narayana Hrudayalaya (NH), the Bangalore-based healthcare provider along with its joint venture partner US-based Ascension Health, is planning to invest $60 million for a healthcare project in the Cayman Islands. The partners are setting up a 110-bed hospital spread over 10 acres. Of the $60 million that will be invested in the project, half will come as debt and the rest will be come as equity. (Business Standard)

Xander In Talks With India’s Oldest Golf Club To Develop Land –  London-based private equity (PE) firm Xander Group is looking to jointly develop prime residential property with India’s oldest golf club, The Royal Calcutta Golf Club. The investment by Xander and sales from the project will together yield Rs 300 crore for the club.

An MoU has been signed to develop 5.5 acre land located within the club. (Financial Express)

Shriram EPC Scouts For Partners, Plans Rs 150Cr Rights Issue – Shriram EPC is scouting for partners in Africa, West Asia and South Asia to form joint ventures for its proposed entry into these geographical areas. The company recently entered new verticals like solar power and expanded operations internationally into countries like Zambia, France and Australia. It is also planning to raise around Rs 150 crore through a rights issue to increase the group’s holding. (Business Standard)

Panaria, Asian Granito Form JV – Italian tile maker Panariagroup and the BSE listed Asian Granito India have entered into 50:50 joint venture to manufacture and retail luxury tiles under the Bellissimo brand. The two firms will invest Rs 100 crore in the venture. The joint venture company — Asian Panaria Pvt Ltd — will manufacture the tiles in Asian Granito’s existing facility.  (Business Line)


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News Roundup: Thomson Reuters in talks to buy Newswire18

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