New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Aug 17, 2012:
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1) Wave Infratech To Raise Funds Through Debt-Equity Mix
http://www.dealcurry.com/20120817-Wave-Infratech-To-Raise-Funds-Through-Debt-Equity-Mix.htm
Wave Infratech - part of Ponty Chadha’s Wave Group, is planning to raise around R4000 Cr in the next two months through debt and PE to fund investments in developing the first phase of a township in Noida.
The project is a 152-acre integrated township at Noida named 'Wave City Centre'. First phase of the project includes R10,000 Cr outlay including the land cost. Total size would be 40 Mn sq.ft, of which the company would develop about 10 Mn sq.ft in the first phase to be delivered by 2016.
Wave Infratech has given mandate to IDFC for arranging debts from banks and it can dilute 25% stake in the first phase of the project, MD Manpreet Singh Chadha said.
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2) ABG Shipyard Stake Sold By Nippon, Bought By Videocon
http://www.dealcurry.com/20120817-ABG-Shipyard-Stake-Sold-By-Nippon-Bought-By-Videocon.htm
Nippon Investment and Finance Company Pvt. Ltd. sold part stake in ABG Shipyard Limited through the open market and the stake was bought by Videocon Industries Ltd.
Nippon sold 5.5 lakh shares at R366 per share amounting to a sale of R20.13 Cr and the same was bought by Videocon. Nippon had bought the stake at the end of July this year by acquiring 5.14 lakh shares for a total of R19.35 Cr.
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3) Claris Stake Bought By Morgan Stanley
http://www.dealcurry.com/20120817-Claris-Stake-Bought-By-Morgan-Stanley.htm
Morgan Stanley Asia (Singapore) Pte. bought stake in Claris Lifesciences Limited through a bulk deal on BSE.
The FII bought 5 lakh shares at R217.89 per share amounting to R10.89 Cr.
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4) KKR, Novartis, Pfizer In Race To Acquire Strides' Unit
http://www.dealcurry.com/20120817-KKR-Novartis-Pfizer-In-Race-To-Acquire-Strides-Unit.htm
Strides Arcolabs' injectable-drugs unit, Agila Specialties Private Limited is up for sale and 'serious bidders' for the asset are Novartis and Pfizer along with U.S buyout fund KKR, ET stated.
Strides is expecting to receive anywhere between $1.6-2 Bn for the unit - more than twice its market value.
Strides provides Pfizer with generic versions of off-patent drugs through a partnership announced in 2010.
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5) Orbit Corp To Raise Funds - Selling Multiple Projects
http://www.dealcurry.com/20120817-Orbit-Corp-To-Raise-Funds-Selling-Multiple-Projects.htm
Orbit Corp is planning to sell multiple planned projects in Mumbai to raise funds and reduce debt, according to Mint. The company is planning to raise around R400 Cr through exiting a slum redevelopment project in Santacruz (R300 Cr) and by selling its plots of land in Tardeo, Worli and Lalbaug in central Mumbai to other developers (R100 Cr). The company is in talks with several developers.
The company is also willing to sell all or some of its stake in the Kilachand bungalow in south Mumbai later. Orbit Corp has around 50% stake in the property of Kilachand bungalow.
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6) Wipro Planning Acquisitions In The Furniture Space
http://www.dealcurry.com/20120817-Wipro-Planning-Acquisitions-In-The-Furniture-Space.htm
Wipro Furniture is looking to make two acquisitions in the furniture business with a furniture brand in Bangalore and another overseas chain.
Wipro Furniture is part of Wipro Consumer Care and Lighting Group (WCCLG).
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7) South African Gas Block Acquired By Cairn India
http://www.dealcurry.com/20120817-South-African-Gas-Block-Acquired-By-Cairn-India.htm
Cairn India Limited ventured out of India and bought its first asset in a deep-sea gas discovery block on the west coast of South Africa.
The company bought 60% stake in the 19922 sq.km Block 1 in Orange Basin and has signed a farm-in agreement with South African national oil firm Petroleum Oil and Gas Corporation of South Africa Ltd (PetroSA).
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8) ONGC To Rope In Japan's Inpex in KG Block
http://www.dealcurry.com/20120817-ONGC-To-Rope-In-Japan-s-Inpex-in-KG-Block.htm
ONGC is planning to sell 26% stake in its KG-DWN-2004/6 block in the KG - basin to Japanese Inpex Corporation, according to BS. Inpex Corporation being a global player will provide technological support for exploration and drilling of blocks.
If the deal goes through, Inpex will pay ONGC what it has spent on the block in the past proportionately and also meet future expenses according to its share. ONGC is also looking to sell stakes in other holding blocks.
The block KG-DWN-2004/6 was awarded to a consortium of ONGC (60%), HPCL (10%), GSPC (10%), GAIL (10%) and OIL (10%) under NELP – VI bidding round. The production-sharing contract for the block was signed on March ’07.
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9) Tata Global Acquires Russian Firm - SuntyCo Holding
http://www.dealcurry.com/20120817-Tata-Global-Acquires-Russian-Firm-SuntyCo-Holding.htm
Tata Global Beverages Limited has acquired the balance 49% of SuntyCo Holding Limited, the owner of the 'Grand' business in Russia.
Tata Global through one of its overseas subsidiary along with European Bank of Reconstruction and Development (EBRD) had acquired 51% of SuntyCo Holding in 2009.
The company through its overseas subsidiary has now completed the acquisition of the balance 49% of the Grand business in Russia by exercising the option it had to acquire this stake at the time of the original acquisition, according to the BSE filing.
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