Private Equity
ICICI Venture, Trikona In Talks With Orange County - PE firms ICICI Venture and Trikona Capital Ltd are in talks with Bangalore-based Orange County Resorts and Hotels Ltd to pick up a 20% stake for Rs 60-70 crore. Orange County owns two holiday resorts in Coorg and Kabini and manages another in Hassan, Karnataka, reports Mint. The company plans to raise Rs 220 crore for upgrading existing properties and opening four more resorts in the next three years.
Raman Roy's Quattro To Raise PE Funds - Raman Roy, founder of Quatrro BPO Solutions, is in talks with US banks and private equity (PE) players to offload a part of the stake in the firm , reports Business Standard. The capital is being raised for expansion of business and funding its acquisitions. Quattro is looking at potentially six overseas acquistions. Quattro raised $100 million from Olympus Capital and another round from DE Shaw this year.
Sahara Infra To Raise Rs 2,500cr pre-IPO - The firm is planning to raise Rs 2,500 crore in pre-IPO deal and has started talking to DE Shaw and the Mauritius-based Delfi Investments for placing up to 2.25% stake, reports Financial Chronicle. The firm is planning its IPO next year through which it expects to raise Rs 10,000 crore, making it one of the biggest IPOs.
Yes Bank To Launch Buyout Fund -The new age lender is planning to launch a buyout fund depending on the success of its planned private equity funds. The buyout fund would be the biggest in its bouquet of funds and will be launched post 2010, reports Financial Express. The bank is planning a $300-million cleantech fund, a $500-million infrastructure fund, a Rs $100 million food and agriculture fund and a $250-million lifesciences fund.
Mergers & Acquisitions
RIL In Talks To Takeover Spic - AC Muthiah-led Spic is in advanced stages of negotiation with Mukesh Ambani's RIL for a possible sell-out, reports Times of India. Spic fertilizer plant has been closed. Asset Reconstruction Company of India (ARCIL) has now taken over 73% of Spic's debt. Others like Sterlite, Mangalore Chemicals and Fertilisers and former employees of Spic backed by a Singapore-based PE fund are also in the race.
Thapar's Global Green Acquires Hungarian Co - The foods division of the $3-billion Avantha Group has acquired Hungarian company Puszta Konzerv Kft for an undisclosed amount. Puszta Konzerv manufactures sweet corn, peas, gherkins, mixed pickles, lecsó and tomatoes, reports Hindu Business Line.
Raymond To Sell Off Denim Business - Raymond has put its loss-making denim business on the block and has appointed an investment banker to find a buyer for its equity. The denim business ia a joint venture between Raymond and Europe-based UCO Denim. The firms losses doubled to Rs 120 crore in the last financial year. The bankers have approached Mukesh Ambani's RIL, reports Business Standard.
Corporate
Religare To Start MF Biz With AEGON - SEBI has given approval to Religare AEGON Asset Management Company on Thursday to launch mutual fund business in the country.
The AMC will be launching its first product for the Indian retail investor by November-December this year, reports Hindu Business Line. AEGON and religare also have a joint venture in life insurance business.
RCF Mulls Chemical Commex - Rashtriya Chemicals and Fertilizers Ltd, India’s largest public sector fertilizer company by revenue, plans to set up country's first commodity exchange for chemicals in Mumbai, reports Mint. It also plans to develop a hydrogen plant and a chemical industrial park at 100 acres of surplus land in Mumbai.
Satyam's Senior Management Selling Shares - The senior management executives of the NYSE-listed IT firm are on a stock-selling spree even as they reassure employees about soundness of the firm. About half a dozen top executives of the company have offloaded over 1.5 lakh shares in the last few days, reports DNA. This includes Satyam’s chief financial officer Srinivas Vadlamani and Vinod dham, who is on the board of directors.
Private Equity