AIG Investments Officialy Confirms That It's Up For Sale - The asset management arm of global financial giant American International Group has officially confirmed that it is up for sale and is negotiating deals with two parties. It oversees some $100 billion in assets for AIG clients and its Indian unit has managed assets worth Rs 1,500 crore through mutual funds. India's Religare along with Australia's Macquarie Bank were reported to be in race for AIG Investments. (Times of India)
Pizza Corner Owners Look For PE Funding - Pizza Corner-owners Global Franchise Architects (GFA) is looking to raise funds from private equity or venture capital investors. GFA owns brands like Pizza Corner, The Donut Baker, Coffee World and The Cream and Fudge Factory. Organised pizza market comprising three-four large MNC brands is estimated at Rs 700 crore and growing at the rate of 30 per cent a year. (Hindu Businessline)
Sun Direct To Raise Debt - The direct-to-home (DTH) service provider Sun Direct TV Pvt. Ltdba is in negotiations with several bankers to raise Rs1,000 crore in debt to fund its expansion. The firm, promoted by Kalanidhi Maran, will use 90% of the money raised to import set-top boxes. (Mint)
Sony India Gets New Chairman - Sony Corp has announced the appointment of Keki B Dadiseth, former director of Unilever in London and ex-chairman of Hindustan Lever in India, as chairman of the Board of Sony India. He will report to Sir Howard Stringer, chairman, CEO and president, Sony Corp and be based out of Mumbai. (Business Standard)