BackDeals Buzz: Aurobindo joins fray to buy Teva’s assets; Practo in talks to raise $50-60 mn
In other news, TPG to rope in three LPs for ICICI Home Finance deal; Vodafone emerges as front runner for buying out Telenor's operations in India
Premium
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Aurobindo Pharma eyes Teva’s over $1 billion European assets
Aurobindo Pharma Ltd, India’s fourth-largest drug maker, is considering joining the race to buy assets of over $1 billion from Teva Pharmaceutical Industries Ltd that are being divested by the Israel-based company in the UK, Ireland and Iceland as a precondition to Teva’s acquisition of Allergan Plc.’s generic business, reported Bloomberg. The deal would be financed by a loan of more than $1 billion and no final decision has been made. Read more.
TPG Capital partners three limited partners for ICICI Home Finance deal
Private equity firm TPG Capital has partnered three of its limited partners (LPs) to close its acquisition of ICICI Home Finance Co. Ltd for as much as $320 million, reported Mint. TPG has brought on board Temasek Holdings Pvt. Ltd, an investment arm of the Singapore government, Singapore’s sovereign wealth fund GIC and US-headquartered HarbourVest Partners, a private equity fund of funds and one of the largest private equity investment managers in the world. Read more.
On 24 June, Mint reported that ICICI Bank Ltd had agreed to sell its mortgage lending unit to American private equity firm TPG Capital for ₹ 2,100 crore. TPG Capital agreed to buy ICICI Home Finance after parent ICICI Bank decided to lower the valuation of the home financier. Read more.
Indian Oil, Oil India, BPCL unit to raise $2 billion
Indian Oil Corp. Ltd (IOC), Oil India Ltd and Bharat PetroResources Ltd (BPRL), a unit of Bharat Petroleum Corp. Ltd (BPCL), are together looking to raise $2 billion in debt to fund their purchase of stakes in two Russian fields, Vankorneft and Tass-Yuryakh, reported Mint. Russian energy giant OAO Rosneft had in March agreed to sell stakes in the two Siberian oil and gas fields to the state-run Indian oil companies. Read more.
Practo in talks to raise around $50-60 million
Healthcare start-up Practo is in talks to raise a new round of funding which could value it at over $600 million ( ₹ 4,000 crore), reported The Economic Times. New York-based investment firm Thrive Capital, Russia’s ru-Net Holdings and existing investor Chinese online giant Tencent are in advanced negotiations with the Bengaluru-based company. The round currently being negotiated is worth around $50-60 million. Read more.
Vodafone emerges as front runner for buying out Telenor’s operations in India
Vodafone has emerged as the front runner for buying out Telenor’s operations in India, as the country’s number 2 telecom company prepares for the coming battle over data customers with rivals Bharti Airtel and Reliance Jio Infocomm, reported The Economic Times. The airwaves—in the 1800 MHz band that can be used to carry 4G but are currently being used to offer 2G by Telenor India—will be valued at roughly $1 billion ( ₹ 6,800 crore). Read more.
BookMyShow raises over Rs550 crore from Stripes Group, existing investors
Online movie ticketing company Bigtree Entertainment Pvt. Ltd, which owns and operates the BookMyShow website, raised over ₹ 550 crore in its fourth round of funding. The round was led by US-based Stripes Group with existing investors Network 18, Accel Partners and SAIF Partners participating in the round. The funding round has increased the company’s valuation to ₹ 3,000 crore, the company said in a statement on Tuesday. Read more.
Mint reported on 9 June that BookMyShow was in talks with Stripes and its existing investors to raise around $75 million. Read more.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
