The saga of buying out high-end office space in Mumbai continues. In a latest development, Mumbai-based education company, Core Projects and Technologies, is in talks with the leading plastic goods maker Supreme Industries to buy out the office property developed by the latter in the Andheri area of Mumbai. The deal could be worth Rs 350 crore (Rs 3.5 billion) in value, said sources close to the development.
Providence had bought 15 per cent in Idea Cellular in 2006 for around Rs 1,800 crore (Rs 18 billion) through its investment arm - P5 Asia Investment (Mauritius).
Six months after the Paras deal, Actis wants to exit Sterling Hospitals, a Gujarat-based multi-speciality hospital chain with six centres, according to three independent sources in the know.
The company is in talks with BG India and Italian E&P major, ENI.
Tax liability insurance is a key negotiation tool used by companies and advisers when a potential tax exposure has been identified and neither party is willing to bear the risk.
The interested companies include Emami and Dabur.
The move will require modifications in Companies Act.
Olympus Capital, UTI's PE arm to fund Rs 400 crore.
The anti-depressant drug market in the US is primarily ruled by Effexor XR (Venlafaxine) of Wyeth (now owned by Pfizer).
Though all the regulatory and ministerial approvals are yet to come in, two working groups with specific mandates have been set up.
If the Ministry of Human Resource Development (MHRD) has its way, individuals and corporations donating to educational institutions may soon be eligible for tax exemptions.
If the deal materialises, Angel will have to pay at least Rs 800-1,000 crore (Rs 8-10 billion) for a 51 per cent stake, valuing the brokerage at Rs 1,500-2,000 crore (Rs 15-20 billion). The talks are at an early stage.
The state-run company may soon buy nearly 20 per cent stake in two shale gas acreages - Eagle Ford shale and Barnett shale - in the US.
The rise in material prices and excise duty is set to raise the prices of liquor brands across the country. According to officials of various companies, the brands will be costlier by 15-20 per cent from April.
Lack of students prompts the university to re-look at its strategy
The Chhabria-promoted Rs 1,200 crore (Rs 12 billion) Allied Blenders & Distillers will launch two brandy brands in South India next month.
Consolidation seems to the key word among private equity (PE) backed companies. In the first few months of 2011, about 20 merger & acquisition (M&A) deals worth $150 million took place.
Luckily for him, the bumps on the way got forgotten, thanks to his expertise in earning high returns for investors through patient exits.
The All India Council for Technical Education (AICTE) has decided to pull the plug on part-time management courses in business schools across the country.
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