Deals Buzz: Aircel in move to buy GTL Infrastructure’s $2.5 billion tower company
In other news, International Finance Corporation partners with HDFC to create an $800 million fund to finance construction of affordable houses
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Greenko, ReNew eye SkyPower’s India solar power projects
Canadian solar energy developer SkyPower is in separate talks with Hyderabad-based Greenko Group and Sumant Sinha-led ReNew Power Ventures to sell stake in its Indian projects, reports Mint, citing two people aware of the development. Read more
SSG Capital acquires 34.42% stake in Cox & Kings UK unit
Travel firm Cox & Kings Ltd on Thursday said SSG Capital Management Ltd has bought 34.42% stake in its British subsidiary Prometheon Holdings (UK) Ltd from Rohatyn Group, reports Mint. Prometheon owns Holidaybreak, a European niche travel company. Read more
Lenders plan to bring strategic investor in Sterling Port
As part of attempts to recover their loans, lenders of Sterling Port Ltd plan to bring a strategic investor to replace the existing concessionaire at the Dahej port project in Gujarat, reports Mint, citing two people aware of the development. Read more
Dutch pension fund APG puts $175 million in Virtuous Retail
Dutch pension fund manager APG Asset Management NV has invested $175 million (Rs1,150 crore) of fresh equity into Virtuous Retail South Asia Pte Ltd (VRSA), a joint venture with Xander Group Inc., for acquisitions and greenfield project developments, reports Mint. Read more
IL&FS ties with Ecamion to explore energy storage business
Infrastructure Leasing and Financial Services (IL&FS) Ltd has tied up with Canadian clean technology company Ecamion Inc. to explore entering the energy storage business, with an eye on the electric vehicle opportunity, reports Mint, citing a senior executive. Read more
Aircel in move to buy GTL Infrastructure’s $2.5 billion tower company
Malaysia’s Maxis Communications-owned mobile telephony provider Aircel is making a move to acquire independent tower operator GTL Infrastructure in a deal, which is being pushed by the common lenders of the two troubled companies, reports The Economic Times, citing people directly aware of the matter. Read more
Mint had earlier in May reported that a stake sale in GTL Infrastructure could see the telecom infrastructure firm valued at more than Rs11,000 crore, citing people aware of the development. Read more
Bain-Piramal, Aion in race to buy 58% stake in GTL Infrastructure
Lenders to GTL Infrastructure have received bids from four companies for buying up to 58% stake in the telecom tower company, reports The Economic Times, citing two people aware of the development. The four bidders include Bain-Piramal joint venture asset reconstruction firm, Aion Capital, a foreign telecom company, and a lesser-known investment firm Beam Investments. Read more
IFC, HDFC to create affordable housing fund of $800 million
In a move that could provide a fillip to affordable housing finance in India, the International Finance Corp., a member of the World Bank Group, has partnered with the country’s largest mortgage lender HDFC to create an $800 million fund to finance construction of affordable houses, reports The Economic Times. Read more
PVR to buy minority stake in US-based theatre firm iPic
PVR Ltd, the country’s largest film exhibition company, is set to invest $4 million to pick up a minority stake in American luxury restaurant-and-theatre company iPic-Gold Class Entertainment, reports The Economic Times, citing a company insider. Read more
Volkswagen China to invest billions in new energy cars
Volkswagen will invest more than 10 billion euros ($12 billion) along with its partners in China to build new energy vehicles in the country, the company said, reported AFP. Read more
India Inc raises Rs1.4 trillion via equities in 2017
Fundraising through the equity route hit an all-time high, touching the Rs1.4 trillion mark during the current calendar year (CY17). In all, companies raised a record Rs1,40,073 crore in the 10-and-half months of CY17 (January-November 2017) through various equity instruments, reports Business Standard. Read more
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