TPG, Warburg In Race To Invest $100M In Vasan – In a fresh round of fund raising activity, global private equity giants TPG Capital and Warburg Pincus are understood to be in various stages of discussions with Chennai-based Vasan Healthcare for a $100 million investment. This fresh round of investment will be a combination of both primary and secondary transactions. Sequoia Capital has invested around Rs 250 crore over the past few years. The primary investment will fuel Vasan’s expansion plans which envisages expanding its network of eye care hospitals to 125 from the present 80 by March 2012. (Business Standard)
IL&FS May Sell Stake In Orix Auto Infra To Hertz – Infrastructure Leasing and Financial Services (IL&FS) is likely to sell its entire stake in Orix Auto Infra services, a joint venture company with Japanese financial service firm Orix Corporation and IL&FS to Hertz. The deal is to be valued around Rs 300-400 crore. Orix Corporation has a 24% stake in IL&FS for about $1.2 billion, which Indian giant Reliance Industries was interested in buying. At present, Orix is also eyeing to buy US-based private equity firm TPG Capital’s stake in India’s Shriram Transport Finance. (Moneycontrol)
JSW’s CIC Energy Deal Called Off – Eight months after signing a definitive agreement with the management of Canadian resources company CIC Energy to buy them out and take control of the Toronto-listed company, Sajjan Jindal’s JSW Energy has backtracked from the $418 million (Rs 1,890 crore) deal. The exclusive agreement between the two has lapsed, and after its board meeting CIC informed the exchanges late on Tuesday that it would now engage in selloff negotiations with other potential bidders. (Business Standard)
IDFC May Wind Down Project Business – Infrastructure Development Finance Corporation Ltd (IDFC), is set to wind up IDFC Projects, its projects development business. The business, into which the company had forayed in 2007, had recorded losses. Currently, the subsidiary company accounts for two projects — a Rs 5,000-crore power project in Chhattisgarh and a Rs 1,000-crore road project in Gujarat. IDFC Project’s total exposure in these projects is estimated at over Rs 400 crore. (Business Standard)
ACB India Files For Rs 1,000Cr IPO – ACB India, which operates coal washeries, today filed preliminary papers with market regulator the Securities and Exchange Board of India (Sebi) for an initial share sale, which could garner over Rs 1,000 crore. ACB is expecting to mop up over Rs 1,000 crore through the initial public offering. The issue comprises fresh equity as well as sale offer of 2.8 crore shares. Global coordinators for the issue are IDFC Capital, Edelweiss Capital, JP Morgan India and Macquarie Capital Advisers (India). (Business Standard)
Reliance Infratel Evaluating Offers – The telecom tower assets of the Anil Ambani group are back on the dealmakers’ radar. Reliance Communications (R-Com) had received several offers to acquire as much as 95% in Reliance Infratel Ltd, the company that owns 50,000 telecom towers that are spread across the country. Last June, R-Com had announced that it was demerging the tower business to GTL Infrastructure in a Rs 50,000-crore deal. The deal fell apart in September after serious differences arose between the two sides over the valuation of the tower assets. (Telegraph)
Oil India Eyes Shale Assets In Argentina – State-run explorer Oil India is looking to buy stake in shale gas assets in Argentina. The firm has been eyeing oil-producing assets overseas, and has set aside Rs 4,000 crore to Rs 4,500 crore ($888 million to $1 billion) to buy oil and gas assets.