Indian Hotels inks deal to sell Taj Boston for $125 mn
Indian Hotels Company Ltd said on Wednesday it has agreed to sell its Taj Boston hotel in the US to AS Holdings LLC, Boston for $125 million (about Rs 840 crore). The company will use the sale proceeds largely to repay debt, the operator of the Taj luxury hotels said in ......
Apax Partners makes neat returns from Cholamandalam Investment part-exit
Global private equity firm Apax Partners has marked its first liquidity activity from its Indian portfolio in more than a year, generating high returns in the process, as it took advantage of the stock market rally.The PE firm has part-exited Murugappa Group’s non-banking finance company Cholamandalam Investment & Finance Company ......
Punj Lloyd sells stake in Dubai-based Olive Group for $20M
Infrastructure firm Punj Lloyd said on Wednesday that its Singapore-based arm has sold its entire shareholding of 27.78 per cent in Olive Group Capital Ltd for $20 million, as per a stock market disclosure. The deal involves upfront and deferred payouts."The deferred consideration of approximately $11 million shall be received ......
Fresenius buys 85% stake in Tata Capital Healthcare Fund-backed Sparsh Nephrocare
Germany’s Fresenius Medical Care AG said on Friday it has bought an 85% stake in Indian dialysis services company Sandor Nephro Services Pvt. Ltd, which runs the Sparsh Nephrocare chain, from a group of investors.Fresenius, the world’s largest provider of products and services for renal diseases, didn’t disclose financial terms ......
Blackstone-backed SH Kelkar to acquire flavour biz of Gujarat Flavours
SH Kelkar & Co, a Mumbai-based maker of fragrances and flavours, has received its board’s approval to acquire the flavour division of the Gujarat-based food essence and colour maker Gujarat Flavours Pvt. Ltd for Rs 14.5 crore ($2.1 million).The company, through its affiliate Keva Flavours Pvt. Ltd, will be acquiring ......
Jabong’s owner GFG raises $168M from existing investors AB Kinnevik and Rocket Internet
Global Fashion Group (GFG), the holding company of Gurgaon-based lifestyle fashion and apparel e-tailer Jabong.com, has raised €150 million ($167.7 million) from existing investors AB Kinnevik and Rocket Internet.GFG will use the money to strengthen its fulfilment, marketing and product development capabilities in addition to building infrastructure, as per a ......
Paytm to raise funding from MediaTek’s arm
One97 Communications Ltd, which runs mobile payment and e-commerce platform Paytm, will raise an undisclosed amount in funding from Mountain Capital, one of the investment funds of MediaTek Inc, it said in a statement.The funding will be used for expanding, boosting payments and commerce and building its proposed payment bank, ......
Sony Pictures to acquire Zee’s Ten Sports biz for $385 mn
Sony Pictures Networks India has agreed to acquire media baron Subhash Chandra-led Zee Entertainment Enterprises Ltd's sports broadcasting business housed under Ten Sports Network for $385 million (Rs 2,580 crore).The acquisition is subject to regulatory approvals, the companies said in a statement.The Ten Sports channels being acquired include Ten 1, ......
ONGC Videsh raises $1 bn to finance Russian oil field deal
State-run ONGC Videsh Ltd (OVL) raised $1 billion from the international market to refinance its acquisition of a 15% equity stake in Russia’s JSC Vankorneft.In a deal facilitated by the Indian and the Russian governments, OVL, the overseas arm of Oil and Natural Gas Corp. Ltd, had announced its plan ......
IFC emerges the lead investor with Hero Future, Nephroplus as beneficiaries
International Finance Corp (IFC), the private investment arm of the World Bank, shined with multiple deals in the week ended August 26. It struck the biggest private equity deal of the week by pumping in $125 million in Hero Group’s renewable energy firm Hero Future Energies. It also participated in ......
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