Ocean Sparkle May Buy Tag With SBI Macquarie Backing - SBI Macquarie may back port operations company Ocean Sparkle’s acquisition of Tag Offshore, a Mumbai-based marine support services entity, for Rs 400 crore. The company has been in discussions with three PE firms, including SBI Macquarie, to raise the capital valuing itself at around Rs 1,200 crore. The acquisition of Tag Offshore will help the Rs 350-crore Ocean Sparkle to expand their client base and add new businesses catering to offshore exploration sector. (Times of India)
Hong Kong's Bravia Capital Eyes Kingfisher Stake - Hong Kong-based private equity firm, Bravia Capital is said to be eyeing an investment in debt-ridden Kingfisher Airlines. If the deal does go through, it will not be a first for Bravia Capital in the aviation sector. In October this year, Bravia Capital and HNA Group acquired Istanbul-based ACT Airlines. The HNA Group is into various businesses, including airlines, airports, finance, property and tourism. (Business Line)
UBM Group Buys Green Energy Expo For Rs 50Cr - The UK-based UBM group has bought the Renewable Energy India series of fairs from Exhibitions India Ltd for around Rs 50 crore. The four-year-old Renewable Energy India expos are among the larger exhibitions on green energy in Asia. The 2011 event saw an exhibition space of over 10,000 sq. m filled with product displays. (Business Line)
Jacob Ballas Capital To Make 3-5 Investments - India-focused private equity firm Jacob Ballas Capital expects to invest about $150 million in Asia's third-largest economy over the next 12 months, scooping up assets that offer strong long-term growth. Jacob Ballas expects to do 3-5 transactions in the next one year as companies turn increasingly to private equity for risk capital due to a dormant market for initial public offering. (Reuters)
Barclays Puts India Retail Assets On The Block - Barclays Bank is expected to put its India retail assets on the block. The British lender has decided to focus on profitable business ventures such as wealth management and investment banking. The bank may sell more than Rs 3,000 crore worth of retail assets in India comprising mortgage loans, personal loans and loans to small businesses. (Business Standard)
ONGC Videsh Eyes Stake In Sakhalin - ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), today once again expressed interest in taking at least 20 per cent stake in the Sakhalin-3 oil and gas fields and importing liquefied natural gas from Russia. OVL is keen on replicating its 20 per cent stake in Exxon Mobil-operated Sakhalin-1 oil and gas fields in the upcoming Sakhalin-3 project, official sources said. (Economic Times)
Coromandel Buys 27.5% More In Sabero - Fertiliser maker Coromandel International today said it has acquired an additional 27.75 per cent stake in Sabero Organics Gujarat. With the acquisition of additional shares, Coromandel International's total stake in Sabero increases to 36.75 per cent. In May, Coromandel International said it is going to acquire 42.2 per cent stake for Rs 250 crore in all cash deals. (Economic Times)
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