Home >Companies >News >Deals Buzz: KKR, Bain, TA Associates in race for stake in Aditya Birla Retail
The potential deal values the loss-making Aditya Birla Retail business at Rs5,000 crore. Photo: Hemant Mishra/Mint
The potential deal values the loss-making Aditya Birla Retail business at Rs5,000 crore. Photo: Hemant Mishra/Mint

Deals Buzz: KKR, Bain, TA Associates in race for stake in Aditya Birla Retail

In other news, Three Pillars Pte, an arm of the Qatar govt, plans to offload around 5% stake in telecom services major Bharti Airtel for about Rs9,500 crore

Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Tata Steel secures informal commitment for Adani’s Hazira port

Tata Steel Ltd, a contender for Essar Steel Ltd’s assets, has secured an informal commitment from the Adani group for use of its port in Hazira, Gujarat, if the Tata group company wins the bid for the bankrupt steel maker’s assets located in the vicinity, reports Mint, citing two people with direct knowledge of the matter. Read more

HDFC Standard Life IPO subscribed 46% on Day 1

The initial public offering (IPO) of HDFC Standard Life Insurance Co. Ltd was subscribed 46% on Tuesday, the first day of the public offering, led by demand from institutional investors, according to data from stock exchanges, reports Mint. Read more

AkzoNobel to sell its speciality chemicals business for Rs320 crore

Paints maker AkzoNobel India Ltd on Tuesday said it will sell its speciality chemicals business to an affiliate of the AkzoNobel Group for Rs320 crore, reports Mint. The business includes the Mahad manufacturing facility for polymer chemistry range of products and also handles a trading portfolio in polymer and surface chemistry products sourced from other units of AkzoNobel. Read more

Cevian tops Investor AB again as Ericsson’s biggest shareholder

Cevian Capital is once again the biggest shareholder in Ericsson, overtaking investment firm Investor AB for the second time this year, business daily Dagens Industri reported, citing a filing by Cevian to the US Securities and Exchange Commission (SEC), reports Reuters. Read more

RCom renegotiating tower business deal

Debt-laden Reliance Communications Ltd (RCom) on Tuesday said it is renegotiating the tower business deal with all interested parties, including Brookfield Infrastructure Group, reports PTI. In December last year, RCom had inked binding agreements to sell 51% stake in its tower business to Canada-based Brookfield Infrastructure and its institutional partners for Rs11,000 crore, but the deal fell through after the company called off its merger with Aircel. Read more

KKR, Bain Capital, TA Associates in race for 12-13% stake in Aditya Birla Retail

Private equity firms KKR, Bain Capital and TA Associates are vying for a 12-13% stake in the supermarkets and hypermarkets arm of the diversified Aditya Birla Group, reports Economic Times. The potential deal values the loss-making grocery retail business at Rs5,000 crore. Read more

Qatar govt arm to sell 200 million Airtel shares for 9,500 crore

Three Pillars Pte, an arm of the Qatar government, plans to offload around 5% in telecom services major Bharti Airtel for about Rs9,500 crore ($1.46 billion) through block deals on Wednesday, reports the Times of India. The foreign investor will offer nearly 200 million shares of the telecom services major at Rs473-490 per share, the term sheet for the deal showed. Read more

Telcos, private equity firms eye RCom’s non-wireless assets

A dozen Indian and overseas companies, including private equity players such as KKR, Carlyle Group and TPG Capital and telecom operators like Airtel, Vodafone, Reliance Jio and Telstra Australia are believed to have shown interest in buying a 51% stake in non-wireless assets of Reliance Communications (RCom), comprising undersea cables, data centres and enterprise operations, reports Times of India. Read more

Axis to raise funds, I-Sec to go public

Private sector lender Axis Bank late on Tuesday said that its board on Wednesday would consider raising money through issuance of shares or equity-linked instruments, reports TOI. Last week, it was reported that private equity major Bain Capital would infuse between $750 million and $1 billion in the bank. Read more

Henkel calls off talks to buy 26% stake in Jyothy Labs

German consumer goods firm Henkel AG has called off talks to acquire a 26% stake in Indian soaps and detergent maker Jyothy Laboratories Ltd, reports Mint, citing a top company executive. Read more

Kedaara-backed Spandana Sphoorty raises Rs400 crore in debt

Private equity firm Kedaara Capital-backed Spandana Sphoorty Financial Ltd, a Hyderabad-based microfinance institution, has raised Rs400 crore in debt from Aditya Birla Sun Life Mutual Fund, according to a statement, reports Mint. Read more

Schneider-Temasek leads race to buy L&T’s electrical Biz for Rs17,000 crore

Schneider Electric SE, French industrial multinational, along with its consortium partner Temasek, has entered the final round of negotiations with Larsen and Toubro to acquire its electric and automation division for Rs15,000-17,000 crore as India’s largest engineering group looks to prune its portfolio and exit non-core areas, reported Economic Times, citing multiple people aware of the ongoing developments. Read more

Mint first reported the development, citing people aware of the development. Schneider Electric has emerged as the top bidder to acquire engineering company L&T’s electric and automation division, it reported. Read more

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