Deals Buzz: Nestle sells US confectionery biz to Ferrero for $2.8 billion amid health push
In other news, Tata Sons in talks to raise $1.5 billion via external commercial borrowings
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Tata Sons in talks to raise $1.5 billion via external commercial borrowings
Tata Sons Ltd, the holding company of the Tata group, is looking to raise up to $1.5 billion in external commercial borrowing (ECB) in the next few weeks, reports Mint, citing two people directly aware of its fund-raising plans. Read more
Nifco to raise $75 million offshore capital for residential projects
Nisus Finance Services Co. Pvt. Ltd (Nifco), a real estate investment firm, is raising around $75 million from investors in the US, Japan and Europe to invest in residential projects in India, reports Mint. Read more
Newgen Software IPO receives 19% subscription on Day 1
The Rs424.6-crore initial public offering (IPO) of software products maker Newgen Software Technologies Ltd received demand for 19% of the shares on offer on the first day of the sale on Tuesday, reports Mint. Read more
CCI shadow over Bayer’s takeover of Monsanto
Bayer AG is confident it would get approval from the Competition Commission of India (CCI) for its proposed buyout of Monsanto, without which the global deal could get stalled, the German drugs and crop chemicals company’s South Asia representative Richard van der Merwe said on Tuesday, Mint reports . Read more
True North floats subsidiary focused on analytics, AI, commits $10 million investment
Indian private equity (PE) firm True North on Tuesday said it had launched a subsidiary called Actify Data Labs to offer services in analytics, algorithms and artificial intelligence (3A), reports Mint. Read more
Tata group hires EY to explore sale of oil and gas business
The Tata group has hired EY to explore the sale of Tata Petrodyne Ltd (TPL), its oil and gas exploration and production business, reports Mint, citing two people aware of the development. Read more
Piramal Enterprises explores re-entry into Indian formulations business
Piramal Enterprises is evaluating a return to the domestic formulation market after a non-compete agreement with Abbott expires this year, said people familiar with the plan, reports The Economic Times. Read more
FirstCry may acquire Mothercare franchisee rights from DLF brands
FirstCry.com is in talks to buy the India franchisee right for UK’s kids products brand Mothercare from DLF Brands in a bid to bolster its presence in the growing children’s products market, according to multiple people aware of the development, reports The Economic Times. Read more
Blackstone acquires stake in Forum group’s retail space for Rs2.50 billion
Global private equity firm Blackstone Group has acquired a majority stake in one of the retail ventures promoted by the Forum Group. The private equity (PE) firm has invested around Rs2.5 billion, which translates into about 75% stake in retail space in Esplanade Mall by Forum Group in Bhubaneswar, according to sources close to the development as reported by Business Standard. Read more
Nestle sells US confectionery biz to Ferrero for $2.8 billion amid health push
Swiss food group Nestle has agreed to sell its US confectionery business to Italy’s Ferrero for $2.8 billion, it said on Tuesday, marking CEO Mark Schneider’s first big sale and a small step on its path towards healthier products, reports Reuters. Read more
IIFL Asset Management to raise $500 million for realty play
IIFL Asset Management, part of the India Infoline group, plans to raise $500 million under its India Housing Fund to make debt investments in real estate, including stressed projects, reports The Times of India. Read more
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