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News Roundup: Zee, India Today front-runners to buy NDTV Profit

23 October, 2012

Zee , India Today front-runners to buy NDTV Profit: Zee Entertainment Enterprises Ltd and TV Today Network Ltd are in the fray to buy New Delhi Television Ltd’s business news channel NDTV Profit, according to three persons with direct knowledge of the matter who didn’t want to be identified. They add that there is also another buyer in the race for the channel that has been on the blocks for sometime now. (Mint)

General Atlantic in talks to acquire minority stake in BillDesk: Private equity firm General Atlantic is in talks to acquire a minority stake in e-payment processing company BillDesk, which pioneered online bill payments in India. If the talks fructify, this will be the second time this year that BillDesk will raise equity capital funding, said a person familiar with the ongoing negotiations. (The Economic Times)

DB Realty arm may sell 49% stake in Delhi Airport hotel special purpose vehicle: Property developer DB Realty is looking to sell 49% stake in the special purpose vehicle formed to develop an eight-acre plot in the hospitality district of Delhi International Airport, three persons with knowledge of the development said. (The Economic Times)

IDFC’s private equity arm may buy Pune IT special economic zone for Rs 600Cr: Infrastructure Development Finance Corporation’s (IDFC’s) private equity arm is close to buying a special economic zone for software companies built by local developer Paranjape Schemes in Pune for Rs 600 crore. The IT SEZ covers 1.48 million sq ft area and is located in Pune’s Hinjewadi district, which is now a sprawling infotech park housing several software companies. (The Economic Times)

L&T on course to divest IDPL this fiscal- Raman: Engineering major Larsen & Toubro (L&T) plans to divest its stake in L&T Infrastructure Development Projects (IDPL) by the end of the fiscal. L&T IDPL has been a major player in public private partnership (PPP) projects space with interests in roads and bridges, ports, metro rail and emerging sectors such as transmission lines, water and railways. (The Economic Times)

Veer Energy gains 5% on rumours Hong Kong co may buy 24% stake: Hong Kong-based Crown Impex is close to picking up around 24% stake in Mumbai-based wind energy company Veer Energy Infrastructure at around 15 a share. The stock has gained over 20% in the past one week post the buzz. On Monday, the shares closed at around 14, up 5% from the previous close with over two million shares changing hands on BSE.  (The Economic Times)

Tata Capital, Everstone in race for Transpole Logistics’ stake: The Indian logistics sector is turning to be a hot destination for private equity investors, following the government’s decision to allow FDI in multi-brand retail. In the latest development, three PE majors — Tata Capital, ChrysCapital and Everstone Capital — have joined the race to acquire a significant majority stake in Delhi-based Transpole Logistics. Headquartered in New Delhi, Rs 500-crore Transpole has a presence across India, China, Hong Kong, Korea and South East Asia. (Business Standard)

Sistema seen nearing deal on Aircel stake: Has Sistema JSFC finally struck its long-rumoured deal to buy out all or part of Malaysian firm Maxis Communications Bhd’s 74% stake in Indian telco Aircel Ltd? Both Sistema and Aircel deny that a deal is in the works, but the buzz around it just keeps getting louder.  A person closely associated with Aircel and familiar with the transaction claimed it had. (Mint)

Courtesy: VCCEdge


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News Roundup: Zee, India Today front-runners to buy NDTV Profit

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