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Cummins in talks to acquire Kirloskar Oil Engines in $500 million deal

The Cummins Group, one of the world’s largest manufacturers of engines and power generation products, is in talks to acquire a controlling stake in Kirloskar Oil Engines Ltd in a deal valued at over $500 million through one of its Indian subsidiaries, reports Mint, citing two people aware of talks between the companies. Read more

KKR-backed Avendus Capital looks to enter US, Europe

Avendus Capital, which has raised close to $1.3 billion in India under its public equities alternative asset management business, is planning to grow the business by taking its two flagship products to new countries, reports Mint, citing Ranu Vohra, co-founder and managing director. Read more

Venture capital exits jump 56% to $2.77 billion in 2017

This year saw Indian venture capital funds reap exits worth around $2.775 billion across 56 deals, a sharp 56.2% jump from the $1.777 million venture capital firms gained from 74 exits last year, data from private deal tracker Venture Intelligence shows, reported Mint. Read more

Indian Oil, BPCL keen to acquire GAIL but it wants merger with ONGC

Indian Oil Corp. Ltd and Bharat Petroleum Corp. Ltd are both keen to acquire gas utility GAIL India Ltd to become fully integrated energy companies, reports PTI. Read more

Videocon may be referred to bankruptcy court

Lenders are gearing up to refer Videocon Industries to the bankruptcy court as they are unsure of the company’s proposed debt recast programme clearing the central bank’s conditions to deal with defaulters, three senior bank officials said. However, they expect to complete the restructuring of Jaiprakash Associates account before the 31 December deadline, reports The Economic Times. Read more

Insolvency: Banks form metrics to evaluate bidders

Banks have set up elaborate and strict criteria for bidders interested in buying distressed companies going through insolvency proceedings. Preliminary plans suggest the exercise will be based on scores and the top five companies scoring the highest will get an opportunity to sit with banks for finer negotiation, reports Business Standard. Read more

Sebi likely to ease InvIT, ReIT framework

The Securities and Exchange Board of India (Sebi) is looking at ways to revive the infrastructure investment trust (InvIT) market. After two listings earlier this year, the fortunes of the newest investment vehicle that helps cash-starved infrastructure companies raise capital by transferring assets and listing them as InvIT s have seen a slump, reports Business Standard. Read more

IL&FS, Lone Star to invest $125 million in stressed infra projects

The IL&FS group and US-based Lone Star are expecting to jointly invest about $125 million in distressed infrastructure projects in thermal power and the road sectors by the end of the current financial year, reports Business Standard. Read more

Etailers to focus on physical stores as they prepare to get IPO-ready

For the country’s top online furniture and fashion retailers, offline is the mantra for next year as several of them look to become IPO-ready in 2-3 years, reports The Economic Times. Read more

Piramal Finance eyes hospitality sector, in talks with hotel firms

Piramal Finance Ltd, the non-banking financial arm of Piramal Enterprises Ltd (PEL), is planning to invest in the hospitality sector for the first time and has already started talks with a few hotel companies, reports Mint, citing two people aware of the development. Read more

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