BackDeals Buzz: Google to put $550m in China’s JD
In other news, Temasek has picked up a 5% stake in Jaipurbased AU Small Finance Bank for Rs1,000 crore
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Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Google to put $550m in China’s JD
Google is investing $550 million in cash in China’s JD.com as the US search giant pushes deeper into online commerce, reports Reuters. Alphabet’s Google will buy newly issued class A shares at over $20 per share, equivalent to nearly $41 per American Depository Share (ADS), the companies said in a joint statement on Monday. The pair plan to explore joint development of retail solutions in regions, including Southeast Asia, the US and Europe, the report said. Read more
True North in talks to pick up a stake in Sesa Hair Oil
Ban Labs Pvt. Ltd, a maker of hair care products including the popular Sesa Hair Oil, is in advanced talks to raise as much as ₹ 400 crore from private equity fund True North Capital, reports Mint, citing sources. Read more
Paytm buys Flipkart-backed Cube26, aims to boost customer experience
One97 Communications Ltd, which owns payments app Paytm, on Tuesday announced the acquisition of New Delhi-based technology start-up Cube26. The transaction size was not disclosed, reports Mint. Cube26 is backed by Tiger Global Management and Flipkart. It had raised $7.7 million from both investors in 2015. The start-up was founded in 2012 by Saurav Kumar, Abhilekh Agarwal, and Aakash Jain. Read more
Piramal Capital sanctions ₹ 200 crore funding to Chennai’s Appaswamy Group
Piramal Capital and Housing Finance Ltd (PCHFL), wholly-owned subsidiary of Piramal Enterprises, has sanctioned Rs200 crore funding to Chennai-based realty developer Appaswamy Group, reports The Economic Times. Read more
Solar power firm FRV in talks with funds to sell India project
Madrid-based developer of large-scale solar power plants, Fotowatio Renewable Ventures (FRV), is in talks to sell its 100-MW power project in India in a deal worth ₹ 500-600 crore, reports ET citing sources. Read more
FRV is talking with various investors such as Macquarie Infrastructure and Real Assets (MIRA), green infra JV between PE fund Everstone Group & UK-based Lightsource BP’s Eversource Capital and Edelweiss Infrastructure Yield Plus Fund, the report said.
Patanjali seeks more info on Adani’s bid on Ruchi Soya
Baba Ramdev’s Patanjali Group, which is in race to acquire bankruptcy-bound Ruchi Soya has sought more information related to the bid submitted by its rival Adani Group and also on appointment of a legal advisor of the resolution professional, PTI reports. Read more
Tynor Orthotics raises ₹ 143 crore from Lighthouse, Thuasne
Tynor Orthotics Pvt. Ltd, a manufacturer and exporter of orthopedic and fracture aids, has raised ₹ 143 crore from private equity fund Lighthouse Funds and Thuasne Participations, a French manufacturer of wearable medical devices, the company said on Monday, Mint reports. Read more
Temasek Holdings pays Rs1,000 billion for 5% stake in Au Small Finance Bank
Temasek Holdings, an investment vehicle owned by the Singapore government, has picked up five per cent stake in Jaipur–based AU Small Finance Bank for Rs1,000 billion, Business Standard reports. The capital is expected to support the bank’s organic business growth in the current financial year (FY19) and the next (FY20), the report said. Read more
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