News Roundup: IDFC PE, SBI Caps May Buy 12% In Atlanta Unit
Advertisement

News Roundup: IDFC PE, SBI Caps May Buy 12% In Atlanta Unit

By TEAM VCC

  • 06 Dec 2011

IDFC PE, SBI Caps May Buy 12% In Atlanta Unit - IDFC Private Equity and SBI Capital Markets may pick up a combined stake of 12% in Atlanta’s wholly-owned subsidiary Atlanta Tourism Ventures that will develop a Rs 9,500-crore theme park at Surat in Gujarat. The theme park, Asia’s biggest, is to be funded through a mix of equity, debt and amount received from pre-sale of facilities. (Financial Express)

StanChart To Buy Barclays Card Business - Standard Chartered Bank is set to acquire over half of Barclays Bank's credit card portfolio in India. The deal, which will be signed this week, will see Standard Chartered Bank adding 170,000 cards to its existing portfolio of 1.1 million cards. The book value of the portfolio, which will be sold, is estimated at Rs 180-200 crore. (Business Standard)

Essar May Bid FOr Australia's New Hope - The Ruias-controlled Essar Group will compete with the Aditya Birla Group and other global majors for the Australian resources company estimated to be worth more than $5 billion. New Hope Coal has reserves of more than 1 billion tonnes in thermal coal deposits, adequate to feed a mid-sized thermal power plant for more than 20 years. (Economic Times)

Advertisement

Bain Capital, TPG Agree To Lilliput's Rs 500Cr Placement - Lilliput Kidswear Ltd will raise up to Rs 500 crore through a private placement of shares after miffed shareholders Bain Capital and TPG agreed to the fundraising proposal, temporarily ending a logjam between the promoter and the two private equity firms. The stake of promoter Sanjeev Narula , who holds 55%, and the rest of the two PE investors is likely to come down by roughly 10% each. (Economic Times)

Milestone Capital Raises Rs 450Cr Realty Fund - Private equity firm Milestone Capital Advisors has successfully raised close to Rs 450 crore from a slew of domestic high net worth individuals and mid-sized corporates for a real estate fund. Among other real estate funds, Ajay Piramal Group-controlled property fund manager Indiareit Fund Advisors is aiming to raise over Rs 500 crore over the next four months. (Economic Times)

HNG Plans More Buyouts In Europe - The Kolkata-based Rs 1,400-crore Hindusthan National Glass & Industries Ltd (HNG) is eyeing more acquisition opportunities in the container glass segment in the crisis-hit Euro zone region. In its maiden overseas venture, HNG had acquired assets of Agenda Glass AG in Germany from the insolvency administrator at a consideration of €50 million (approximately Rs 345 crore at the current exchange rate), earlier this fiscal. (Business Line)

Advertisement

Share article on

Advertisement
Advertisement
Google News Icon

Google News

Follow VCCircle on Google News for the latest updates on Business and Startup News