Deals Buzz: Bharti Airtel completes acquisition of Tikona Digital3 min read . Updated: 01 Sep 2017, 11:46 AM IST
In other news, Kumar Mangalam Birla looks for possible merger with Constellium, Aleris Corp, while Sembcorp is set to buy out IDFC's stake in Semcorp Green Infra
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Sembcorp to buy out IDFC’s stake in Semcorp Green Infra
Singapore-based power producer Sembcorp Industries Ltd on Thursday announced the acquisition of IDFC’s remaining 28% stake in renewable energy firm Sembcorp Green Infra (SGI) for Rs1,410.2 crore (around Singapore $301 million) to become its sole owner, reports Mint. The acquisition marked Sembcorp’s entry into India’s renewable energy market. Read more
TPG Growth, Havells promoters buy minority stake in Campus Activewear
TPG Growth, the fund that has backed companies including Uber Technologies Inc., and the family office of the promoters of Havells Group on Thursday said that they have purchased a minority stake in Campus Activewear, a casual sports and footwear brand, reports Mint. Consumer and retail has been one of the strong focus areas for TPG Growth globally. Read more
TVS Logistics says it is looking for acquisitions in Southeast Asia
TVS Logistics Services Ltd (TVS LSL), part of the T.V. Sundram Iyengar Sons group, is looking to buy logistics firms in southeast Asia, a region that offers an opportunity worth $500 billion to $600 billion given its strong manufacturing sector, reports Mint, citing a top company official. He said the targeted companies would be worth about $150 million to $200 million. Read more
Mfine raises $1.5 million from Stellaris Venture
Mfine, a new on-demand doctor consultation start-up by two former Myntra executives, has raised $1.5 million from venture capital firm Stellaris Venture Partners, reports Mint. Healthcare entrepreneurs Mayur Abhaya and Rohit M.A. also participated in the funding round. Stellaris partner Ritesh Banglani has joined the board of Novocura Tech Health Services Pvt. Ltd, which owns Mfine. Read more
Indian Bank plans FPO by year-end, starts roadshow in Hong Kong
Indian Bank Ltd is considering making a follow-on public offering (FPO) in the last quarter of the current fiscal, reports Mint, citing two people close to the development. The bank plans to raise around Rs1,400 crore to strengthen its capital base and reduce government shareholding. Read more
Bharti Airtel completes acquisition of Tikona Digital
Bharti Airtel has informed the telecom department that it has fully acquired Tikona Digital Networks’ share capital, and that the latter is now a wholly-owned arm of the Sunil Mittal-led telco, reports Economic Times. Bharti Airtel will eventually seek Department of Telecommunications (DoT) clearance after the National Company Law Tribunal (NCLT) approves its merger with Tikona Digital, a person aware of the matter told ET. Read more
Kumar Mangalam Birla looks for possible merger with Constellium, Aleris Corp.
Billionaire Kumar Mangalam Birla is evaluating possible bids for Constellium NV and Aleris Corp. as his conglomerate seeks to grow its aluminium operations overseas, people with knowledge of the matter told Bloomberg. Deliberations are at an early stage, and Aditya Birla Group hasn’t yet decided whether to proceed with an offer for either business, according to the people. Read more
Strides Shasun arm acquires Australian operations of Amneal Pharma
Drug firm Strides Shasun on Thursday said its arm Arrow Pharmaceuticals has acquired Australian operations of Amneal Pharmaceuticals for a total consideration of Australian dollar (AUD) 17 million (over Rs85 crore), reports PTI. Read more
Jaypee plans to raise Rs2,000 crore, to sell Bhilai Jaypee Cement
Debt-ridden Jaiprakash Associates on Thursday said its proposed sale of entire 74% stake in Bhilai Jaypee Cement Ltd for an enterprise value of Rs1,450 crore is expected to be concluded by year-end and plans to raise up to Rs2,000 crore through sale of securities, reports PTI. Read more
Petronas interested in controlling stake in Daewoo E&C, says report
Malaysia’s Petroliam National Bhd (Petronas) is interested in buying a controlling stake in Daewoo Engineering & Construction Co. Ltd, a South Korean newspaper reported on Friday, sending shares in the South Korean firm surging 9%, reports Reuters.
Petronas is considering acquiring the 50.75% stake owned by Korea Development Bank (KDB), Maeil Business Newspaper reported, citing unnamed investment banking sources. Read more