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News Roundup: World Bank Approves $4.3 Bn Loan For India

24 September, 2009

$4.3 B World Bank Loan For India – The World Bank has approved $4.3 billion loans for India to help finance infrastructure projects and support its economic stimulus programme. The bank also sanctioned $1.2 billion for the India Infrastructure Finance Co Ltd (IIFCL) for financing public-private partnerships in infrastructure, and $1 billion to address India’s acute power shortages.(Sify News) 

Ennore Coke To Dilute 25% Stake To PE – Ennore Coke Ltd is looking at diluting up to 25% stake to the private equity players to support its investment plan of around Rs 700 crore over the next three years. The expansion plan includes acquisition of overseas coal mines and sick units in India besides enhancing the production capacity. The company earmarked around Rs 240 crore for acquiring coal mines in Australia and at Virginia in the US.  (Business Standard) 

Cityland To Raise $6 M For Realty Venture – The promoters of Cityland Technologies plan to raise $6 million to expand BPO arm. It also plans to foray into real estate consulting soon. The company plans to raise $5 million as seed capital for its real estate services venture Cityland and is currently in talks with a few private equity players and angel investors for the proposed fund. (BS) 

Capital International PE Looks At India’s Consumer Demand – The private equity arm of Capital International is looking at Indian consumer-related companies for investments. The private equity fund has exited two of its three investments in India in last few months. The fund will focus on businesses in areas such as education, food and clothing. Capital’s private-equity funds sold their entire stakes in Kingfisher Airlines in June and in MindTree, a computer services provider, this month.

Sistema Valued At $3.5 Bn – Russian government has valued India-based telecom player Sistema Shyam at $3.5 billion, as per which it will have to pay around $700 million for buying a 20% stake in Sistema-Shyam. The valuation was undertaken by independent appraisers appointed by the government. In March 2009 that the Russian government planed to pick up a 20% stake in Sistema Shyam for around $680 million. (Economic Times)

Adhunik Metaliks To Raise Money – Steel and mining company Adhunik Metaliks is planning to foray into the power sector. It has proposed to set up a plant with 3,480-Mw generation capacity before 2015 with an investment of around Rs 17,000 crore. The company plans to raise the money via an initial public offering in 2011, strategic tie-ups with power sector players and a stake sale to private equity players. (BS)

WPP To Merge Indian Units – WPP Group Plc. plans to merge its out-of-home media specialist firms Kinetic and Ogilvy Landscapes in the Indian market under the Kinetic banner. This comes on the backdrop of departure of some senior executives from Landscapes and a quest for deeper business synergies. The merger is likely to take place by January. (Mint)

 


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News Roundup: World Bank Approves $4.3 Bn Loan For India

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