In other news, Venture debt firm InnoVen Capital India has closed 2017 with over Rs477 crore ($75 million) in deployment through the year, sticking to script
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Tata Global Beverages may sell stake in Amalgamated Plantations
Tata Global Beverages Ltd is looking to divest its 41% stake in Amalgamated Plantations Pvt. Ltd—India’s second largest producer and supplier of tea with estates in Assam and the Dooars region of West Bengal, reports Mint. Read more
Shree Cement to buy 93% stake in UAE-based Union Cement for $305 million
Shree Cement Ltd on Thursday said it had agreed to acquire a 92.83% stake in Union Cement Co. PSC, a United Arab Emirates-based firm, for an enterprise value of $305.24 million (Rs1,945 crore), Mint reports. Read more
Specialty tea firm Teamonk Global looking to raise $5 million
Homegrown specialty tea brand Teamonk Global is looking to raise $5 million from investors as it looks to scale up its portfolio of premium teas and reach out to new geographies, co-founders of the company said, reported Mint. Read more
Videocon-Dish TV merger may get affected by insolvency case against Videocon Industries
Direct-to-home (DTH) operator Dish TV India Ltd on Thursday pointed to the ongoing insolvency proceedings against Videocon group in the context of the delay in its planned merger with Videocon d2h, reports Mint. Read more
Binani Cement’s lenders approach NCLAT over corporate guarantees
At least two lenders of Binani Cement Ltd, currently undergoing insolvency proceedings, have moved the appellate bankruptcy tribunal after the insolvency resolution professional (IRP) rejected their claims on corporate guarantees worth Rs2,000 crore issued by the company to some subsidiaries in the Binani group, reports Mint. Read more
InnoVen Capital disburses $75 million in 2017, eyes double-digit growth in 2018
Venture debt firm InnoVen Capital India has closed 2017 with over ₹ 477 crore ($75 million) in deployment through the year, sticking to script. The Temasek-backed specialty financing firm registered an annual growth of 25% having added 22 new companies to its portfolio this year, reports The Economic Times. Read more
Danone to exit dairy business in India
French foods maker Danone has finally decided to close down its dairy business in India, after three failed attempts to make a mark in one of the world’s fastest growing consumer packaged goods markets, reports Mint. Read more
NCLT adjourns insolvency case against Reliance Naval by IFCI to 18 January
The Ahmedabad bench of National Company Law Tribunal (NCLT) on Tuesday adjourned an insolvency case against Anil Ambani-led Reliance Naval and Engineering Ltd to January 18, 2018, reports Business Standard. Read more
Xerox Corp in talks for major deal with Japan’s Fujifilm Holdings
Xerox Corp. is in talks to potentially strike a major deal with Japan’s Fujifilm Holdings Corp. as the US document pioneer struggles to reinvent itself. A full takeover of the Norwalk, Conn., company isn’t on the table, one of the people said. No deal appears imminent and one may not be reached, reports Wall Street Journal. Read more
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