TPG, Blackstone, Cerberus Eye Kingfisher Stake – Private equity majors interested in buyouts have started initial discussions with Vijay Mallya’s debt-ridden Kingfisher Airlines. Buyout majors such as TPG, Cerberus Capital and Blackstone have shown interest. The talks are in early stages. Blackstone was likely to rope in a British airline for acquiring the Kingfisher stake. (Business Standard)
ICICI Prudential, IL&FS AMC To Invest Rs 225Cr In Amrapali – ICICI Prudential AMC and IL&FS Investment Managers (IIM) are investing Rs 225 crore in Noida-based developer Amrapali for two separate projects in Noida. The developer is issuing compulsory convertible debentures (CCD) to raise Rs 150 crore from ICICI Prudential AMC’s domestic fund for its project Silicon City in Sector-76, Noida. (Economic Times)
Novelis Sells Three Europe Plants – Aluminum-products maker Novelis Inc. said on Monday that it planned to sell three aluminum-foil manufacturing plants in Europe as part of an effort to increase its focus on automobiles, beverage cans and other industries. Hindalco-owned Novelis said the buyer was American Industrial Acquisition Corp. (Market Watch)
IL&FS Ropes In Avendus ECM Head – IL&FS Financial Services has hired a top official from Mumbai-based Avendus Capital to head its capital markets business. Avdhoot Deshpande, executive director and head of equity capital markets at Avendus, has joined IL&FS Capital Advisors as chief executive officer. (Business Standard)
JSW Puts Two Mumbai Properties On Block – Troubled steel and energy major JSW Group has put two of its office properties in Mumbai on the block. The Sajjan Jindal-led Rs 62,000-crore conglomerate is eyeing over Rs 100 crore through the sale of its part of the over 100-year-old Victoria House in Lower Parel and another office property Casablanca in Navi Mumbai. (Economic Times)
L&T Infotech Mulls Bid For Hexaware – Engineering and construction giant Larsen & Toubro (L&T ) is evaluating a possible bid to acquire Hexaware Technologies, as it seeks to build a strategic size for its technology services arm, L&T Infotech. L&T’s interest comes months after Hexaware promoter and private equity investors – General Atlantic Partners and ChrysCap – mandated Morgan Stanley and Credit Suisse for a strategic sale. (Times of India)
L&T Finance Set To Buy EFG’s $250M Portfolio – Swiss private bank EFG is exiting Indian market with its top brass – managing assets estimated at $250 million – moving over to L&T Finance Holdings. The development marks L&T’s foray into private wealth management, providing it with a robust platform of assets to start. (Times of India)
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