Lilliput Gets More Time To Repay Debts - Warding off an immediate threat of liquidation of Lilliput Kidswear Ltd, lenders to the retailer have given it more time to repay debts that were due earlier this month and may extend short-term funds to run the business. But Lilliput’s efforts towards an out-of-court settlement with its private equity (PE) investors have derailed. (Mint)
Blackstone's Gokaldas To Bid For Major Walmart Contract - Private equity giant Blackstone-controlled apparel exporter Gokaldas Exports is set for new business contracts with the world's largest retailer Wal-Mart and niche European fashion houses who are shifting a part of their sourcing requirements from China to other Asian markets. Wal-Mart Stores Inc is expected to land a six million pieces annual order while making it one of the largest clients for the Bangalore-based Gokaldas. (Times of India)
Progress Software Eyes Buyout In Analytics - Progress Software Corporation, a Nasdaq-listed provider of application infrastructure software to develop, deploy, integrate and manage business applications, which has its research and development centre in Hyderabad, is looking at an acquisition in the area of real-time analytics. The company had approximately $70 million (Rs 350 crore) free cash a year and a credit line of $170 million (Rs 850 crore) from banks, which formed a healthy war chest. (Business Standard)
T Rowe May Be Asked To Appoint New Directors - As the finance ministry seeks to assert itself in the affairs of UTI Asset Management, the company’s foreign partner might see its influence curtailed in the days to come. T Rowe Price, the US asset manager which holds 26% in UTI Asset Management, may lose one of its two board seats in the restructured board. (Business Standard)
Accenture To Complete Zenta Buy This Month - Accenture, the global management consulting, technology services and outsourcing company, is all set to close a deal to acquire Zenta, a residential and commercial mortgage processing services firm. Accenture would start rebadging the US-headquartered Zenta’s 3,700 employees in India early next month. (DNA)
