Coca Cola is the frontrunner to acquire the consumer portfolio of Kraft Heinz because the later threw a tax problem that none of other potential buyers wanted to handle. Photo: AP
Coca Cola is the frontrunner to acquire the consumer portfolio of Kraft Heinz because the later threw a tax problem that none of other potential buyers wanted to handle. Photo: AP

Deals Buzz: Coca Cola frontrunner to acquire Complan

In other news, Brookfield Asset Management is leading the race to acquire the gas pipeline owned by East West Pipeline, and Air India expects to sell its former head office in Mumbai to Jawaharlal Nehru Port Trust

Mint brings to you your dose of the top deals news reported from newsrooms across the country

Coke may buy Complan because of ability to deal with tax issues

Coca Cola, the world’s largest beverage maker, is the frontrunner to acquire the consumer portfolio of Kraft Heinz, which includes health drink Complan, because Kraft Heinz threw a tax problem that none of other potential buyers wanted to handle, The Economic Times reported. Kraft Heinz unexpectedly decided to sell the European holding company that houses the India operations and wants the buyer to absorb the tax losses of that entity, registered in Italy, as against the original plan of just selling the Indian operations along with the brands. Coke’s size and financial strength gives it a chance to absorb the tax losses and acquire the entity. Read more

Brookfield leading race to acquire Mukesh Ambani’s East West Pipeline

Canadian financial powerhouse Brookfield Asset Management Inc. is leading the race to acquire the gas pipeline owned by East West Pipeline (EWPL), which was earlier known as Reliance Gas Transportation Infrastructure, Business Standard reported. This makes it one of the first acquisitions by the Canadian firm in the Indian oil and gas infrastructure sector. The 1,400-km pipeline, owned by Mukesh Ambani’s holding companies, connects Kakinada on Andhra coast to Bharuch in Gujarat. Mint reported in July that Brookfield invested $100 million in residential projects in Hyderabad and that it may raise its stake in Mumbai-based Altico Capital, an non banking finance company. Read more

JNPT may buy Air India building by year end for 2000 crore

Air India Ltd expects to sell its former head office in Mumbai for an estimated 2,000 crore by the end of March to state-run Jawaharlal Nehru Port Trust (JNPT), Mint reported. Both JNPT and Air India are carrying out their individual valuations of the iconic Air India building at Mumbai’s Nariman Point. A potential deal for the 23-storey building at 2,000 crore will be a boost to financially-troubled Air India as it will surpass realisations expected previously. Air India has a net debt of 55,000 crore, including 21,000-22,000 crore of aircraft debt. This is a change from July, when Mint reported that because of Mumbai’s property market on a downturn, the building may not go for more than 700 crore. Read more

Arohan Financial to raise 350 crore, plans IPO in 12-15 months

Arohan Financial Services Ltd, the Kolkata-based microfinance company, will raise around 350 crore from its promoters and existing investors to strengthen its presence in east and north India, managing director Manoj Kumar Nambiar told Mint in an interview. The micro financier is also looking to launch its initial public offering (IPO) in the next 12-15 months to help some of its investors sell their stakes. The firm operates in 10 low-income states of central and eastern India and currently has a loan book of around 2,600 crore. Read more

Emso, Eight Capital tie up to invest in India’s stressed assets

London-headquartered emerging markets hedge fund Emso Asset Management Ltd, which manages $5.8 billion in assets worldwide, is entering India’s growing corporate restructuring market, Mint reported. An Emso spokesperson said that the partnership will target the $140 billion stressed assets undergoing insolvency proceedings under India’s insolvency and bankruptcy code. Read more

Apollo Global buys JP Morgan’s $300 million real estate portfolio

Global alternative asset manager Apollo Global Management Llc has taken over JPMorgan Asset Management’s $300-million real estate portfolio in India as its new fund manager and general partner, Mint reported. The deal expands Apollo Global’s assets under management (AUM) in India to around half-a-billion dollars. As part of the transaction, Apollo Global has inducted four people from JPMorgan’s India team. Read more

BabyChakra raises funds from Mark Mobius, others

Online parenting platform BabyChakra has raised an undisclosed amount in its pre-Series-B round from several investors, including Mark Mobius and Facebook director Anand Chandrasekaran. The website offers pregnancy tips and parenting advice, and acts as a forum for parents to interact and exchange information. It currently has two million monthly users with 70% of them coming from Tier 2 and Tier 3 towns, said Naiyya Saggi, founder and chief executive at BabyChakra. Read more

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