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Uber and SoftBank announced a deal Thursday allowing the Japanese tech titan to take a large stake in the US ride-sharing giant, making a hefty cut in the valuation of the biggest venture-backed startup. Photo: Bloomberg
Uber and SoftBank announced a deal Thursday allowing the Japanese tech titan to take a large stake in the US ride-sharing giant, making a hefty cut in the valuation of the biggest venture-backed startup. Photo: Bloomberg

Deals Buzz: KKR gets RBI nod to start India’s 1st foreign-owned ARC

In other news, SoftBank seals deal for large Uber stake, trimming valuation

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

Reliance Jio signs pact to buy most of RCom’s wireless assets

Reliance Jio Infocomm Ltd will buy a majority of the wireless assets of Reliance Communications Ltd (RCom) in a deal that will give the Mukesh Ambani-controlled telecom operator access to valuable 4G spectrum and help his younger brother Anil repay lenders, reports Mint. Read more

Food services sector back on private equity radar

Private equity interest in the Indian restaurant and quick service restaurant (QSR) sector is showing signs of revival after a two-year lull, four PE and M&A (merger and acquisition) deals concluded in December indicate, reports Mint. Read more

Private equity sector sees record $24.4 billion inflow in 2017

The private equity sector has seen robust growth in 2017 with average deal size doubling in the year, although deal volume declined. Overall, deal volume fell by 22% to 570 deals in 2017 from 726 in the previous year, even as the average deal size surged to $42.8 million from $21.2 million, reported Mint. Read more

Brookfield-Kotak bids for Jaypee’s power assets

Canadian asset manager Brookfield and the Kotak Mahindra group have jointly bid for 2,200 megawatts of power assets belonging to Jaypee Power Ventures, a unit of Jaiprakash Associates, reports The Economic Times, citing two persons with direct knowledge of the development. Read more

SoftBank seals deal for large Uber stake, trimming valuation

Uber and SoftBank announced a deal Thursday allowing the Japanese tech titan to take a large stake in the US ride-sharing giant, making a hefty cut in the valuation of the biggest venture-backed startup, reported AFP. Read more

KKR gets RBI nod to start India’s 1st foreign-owned ARC

US buyout giant KKR & Co. has become the first foreign investor to fully own an asset reconstruction company (ARC) in India as it received approval from the Reserve Bank of India at a time when lenders are fighting with a pile of bad loans that have crippled their businesses, reports The Economic Times. Read more

Insolvency process: Edelweiss joins race for Monnet Ispat

Edelweiss Asset Reconstruction Co. has joined the race to buy Monnet Ispat & Energy’s assets after JSW Steel presented a resolution plan asking lenders to take a 72% haircut on the company’s Rs8,900-crore debt. Till now, JSW Steel was the only company to have submitted a resolution plan, reports Business Standard. Read more

Insolvency Bill eases rules for SME promoters

A Bill to replace an ordinance amending the Insolvency and Bankruptcy Code offers promoters of small and medium enterprises (SMEs) undergoing insolvency proceedings a month’s window to repay overdue loans. and bid for their companies. This will be applicable where these promoters are sole bidders, reports Business Standard. Read more

Liberty House, AION, SSG Capital, Deccan Value bid for Amtek Auto

Private equity firms AION and SSG Capital, UK-based Liberty House, and Deccan Value Investors, a US-based hedge fund, are learnt to have submitted bids to acquire Amtek Auto. These bids, along with resolution plans, would have come above the reserve price of Rs4,000 crore set for the company by the resolution professional, reports Business Standard. Read more

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