TPG Capital, Carlyle In Talks For Reliance Infratel – TPG Capital and Carlyle Group are among companies in talks about purchasing a stake in Reliance Communications’ mobile-phone towers unit. Reliance Communications, India’s second-largest mobile phone operator, also has received interest from potential investors including Blackstone Group LP and Apax Partners LLP. Reliance Communications has been trying to sell the unit for about a year as it seeks to reduce debt. (Bloomberg)
TPG Capital Invests $100M In Shriram Properties – Texas Pacific Group Capital (TPG) has picked up a 15% shareholding in Shriram Properties, the realty arm of diversified financial services group Shriram Group, for Rs 450 crore. The transaction values the Bangalore-based developer at more than Rs 2,700 crore. Shriram Properties said it would use the proceeds of the shares sale to foray into retail, hospitality and information technology parks, besides expanding its base in the residential space. (Economic Times)
Tata Global beverages May Sell 20% Stake – After failing to draw interest from private equity investors, Tata Global Beverages, the world’s second largest tea company is looking to sell a 20% stake in its international operations to a strategic investor. The group’s vice chairman RK Krishna Kumar told Financial Times on Monday that the company might bring in financial sponsors and sell up to 20% stake in a few months. (DNA)
Parson Eyes Acquisitions In Education Sector – Pearson Education India, the operating company of Pearson Plc that recently acquired a majority stake in online site TutorVista, will buy or form alliances with providers of education as it pushes for a market share of 10% in two years. Pearson, which owns the Financial Times newspaper and publisher Penguin, is growing at over 20% compounded annual growth rate in higher education and school publishing. Two years ago, Pearson invested $30 million to co-promote vocational training provider IndiaCan with Educomp.
Aegis To Raise $250M To Refinance Debt, Acquisitions – Aegis, the business process outsourcing and information technology (IT) arm of Essar Group, plans to raise $250 million (Rs 1,125 crore) from abroad for refinancing some of its earlier debts and future acquisitions. The company, which is taking the debt route, will raise the funds by issuing bonds and is in talks with a couple of multinational banks. Aegis, with a turnover of $800 million (Rs 3,600 crore), has acquired close to 18 companies over the past six years. (Business Standard)
CCEA To Look At Cals Refineries’ Rs 1425Cr FDI – The Foreign Investment Promotion Board (FIPB) has recommended the proposal of Cals Refineries Ltd for Foreign Direct Investment worth Rs 1425 crore for the consideration of the Cabinet Committee on Economic Affairs (CCEA). Cals Refineries’ proposal was to issue equity shares in the form Global Depository Receipts (GDRs) against supply of refinery equipment. (BusinessLine)
Wipro Consumer Care Buys Aramuska, Moloy From VVF – Wipro Consumer Care has bought soap brands Aramusk and Moloy from Mumbai-based VVF Ltd for an undisclosed amount. The two brands could have cost the FMCG major a total of about Rs 25 crore. VVF had earlier acquired these brands from German consumer products firm Henkel. Aramusk is a deodorant soap for men and Moloy is a sandalwood soap. Other than Wipro, VVF had approached Emami and Future Ventures to sell the brands. (Economic Times)
MMTC To Sell 10% Stake – State-owned MMTC is gearing up to tap the capital markets soon by offloading a 10% stake. MMTC, India’s largest international trading house, has already initiated the process to induct two independent directors and is likely to file its prospectus with the market regulator early next quarter. The sale is a part of the government’s larger divestment target of mopping up Rs 40,000 crore this fiscal. (Economic Times)