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INDIA BUSINESS WORLD - DECEMBER 16th - DECEMBER 31st
- 2007
The Month that was ...
News & important developments from the most prospective of the New World markets... India. Our effort is to provide you with the latest and relevant developments that take place in the Indian business, economic and legal environment.
NEW DEVELOPMENTS AND JOINT VENTURES
MERRILL LYNCH, FIIS, OTHERS BUY STAKE IN NETWORTH FOR RS 50 CRORE :A clutch of strategic investors have picked up stake in domestic broking house Networth Stock Broking through preferential issue of equity shares and convertible warrants. The deal size stands at Rs 50 crore. The list of investors include Hemendra Kothari... More....
INDIAREIT PICKS UP 75% IN PROJECT WITH AMSRI GROUP : Real estate-focused venture capital fund, Indiareit Fund Advisors has picked up a 75% stake in a SPV together with Hyderabad-based Amsri Group to develop a mixed-use realty project at Bachpally, about nine kilometres...More....
WELSPUN ACQUIRES 76% STAKE IN PORTUGUESE CO:WELSPUN India, global major in terry towel making, has acquired 76% stake in Portugal-based Sorema-Tapates e Cortinas de Banho, SA (Sorema) for Rs 60 crore. The acquisition will realise significant synergistic benefits for both the companies... More....
SAIL, RVNL SIGN PACT FOR TRANSPORTING IMPORTED COAL:Steel Authority of India has signed an agreement with Rail Vikas Nigam (RVNL) for transporting imported coking coal using the Paradip-Haridaspur railway line. RVNL would transport an assured volume of 5 lakh tonnes of coking coal per annum... More....
KOTAK MAHINDRA'S REALTY ARM ENTERS INTO JOINT VENTURE WITH LALITH GANGADHAR CONSTRUCTIONS (LGCL):Kotak Mahindra's real estate investment arm, the Kotak Realty Fund, has entered into a JV with realty startup Lalith Gangadhar Constructions (LGCL). As part of the deal structuring, Kotak would bring in around $100 million in tranches... More....
JCT TO ENTER WIND ENERGY, GETTING INTO JOINT VENTURE WITH DAKSHIDIN :Samir Thapar led JCT is taking its first major diversification beyond the traditional textile and filament yarn businesses. The group is getting into a 50:50 joint venture with Dakshidin Corp, which specialises in low wind speed windmills... More....
NILKAMAL SELLS STAKE IN JOINT VENTURE TO INDIA BLUE MOUNTAIN LTD. (IBML):In a landmark transaction towards creating shareholder value, Nilkamal Bhoomi Developers Private Limited sold off shares they owned in Mumbai to India Blue Mountain Ltd. (IBML). A 1.2 acre plot on the Andheri - Kurla road was sold off by the company for... More....
MERRILL LYNCH BUYS 12.7% STAKE IN RESURGERE MINES AND MINERALS INDIA:MERRILL Lynch International has picked up a 12.74% equity stake in mining firm Resurgere Mines & Minerals India for an undisclosed amount, the mining company said in a statement. Formerly known as Exfin Shipping (India), Resurgere has interests in extracting... More....
AEROSTAR INKS JOINT VENTURE WITH INTERIOR AEROSERVICES: Domestic aviation services provider - Aerostar Aviation - has entered into a JV with Interiors Aeroservices of Singapore to provide quality support and service to the domestic airlines, a press release issued...More....
WARBURG PICKS UP 3.3% MORE IN AMTEK INDIA:Leading private equity firm, Warburg Pincus has bought about 3.3% in Amtek India, raising its stake in the forgeign company to close to 10%... More....
BANGALORE-BASED REPAIR & RETURN TECHNOLOGY (R&R) IN JOINT VENTURE WITH TAIWAN CO:Bangalore-based Repair & Return Technology (R&R) has entered into a joint venture agreement with Sequel Technology, Taiwan to provide after-sales services for electronic gadgets. The JV will see an initial investment of $2 million... More....
TIME TECHNOPLAST ACQUIRES GULF POWERBEAT:Time Technoplast has acquired 100% shareholding in Gulf Powerbeat (GPW), Kingdom of Bahrain - through its subsidiary (71%) NED Energy (NED), Hyderabad. GPW has state-of-art production facility at South Alba Industrial Area, Manama, Bahrain for manufacture... More....
MINDTREE ACQUIRES TES PV ELECTRONIC SOLUTIONS:Mindtree Consulting had signed a definitive agreement dated November 14, 2007 with shareholders of TES PV Electronic Solutions ("TES PV"), for acquisition of 100% shares. It has completed the process of acquiring TES PV Electronic Solutions... More....
MUMBAI'S SKS LOGISTICS ENTERS TOURISM SECTOR, JOINS HANDS WITH MTDC: The Mumbai-based SKS Logistics, formerly Shahi Shipping, is foraying into tourism sector. An SKS group company --Royal Cruise Liners -- will be tying up with the Maharashtra Tourism Development Corporation (MTDC) for a 75:25 joint venture...More....
REAL ESTATE DEVELOPER VIPUL GROUP IN PACT WITH SAROVAR, RADISSON FOR RUNNING HOTELS: REAL estate developer Vipul group has tied up with Sarovar Hotels & Resorts-franchisor for Park Plaza and Park Inn brands in India-for managing six four-star hotels it plans to build. Vipul has also tied up with Radisson Hotels for its upcoming five-star hotel...More....
IBM PARTNERS WITH SANKARA NETHRALAYA FOR IT INFRASTRUCTURE:IBM has partnered with Sankara Nethralaya, Chennai-based eye hospital, to help manage its IT infrastructure over a period of five years. The IT major has implemented its Network Operations Center-Inside to automate... More....
ACC & AMBUJA CEMENT TO FORM WASTE MANAGEMENT CO:ACC and Ambuja Cement, two leading Indian cement companies controlled by world's second-largest cement maker Holcim, are together forming a separate waste management company-Geocycle India-that aims to add Rs 100 crore... More....
BCCL PICKS UP STAKE IN LOK HOUSING AND CONSTRUCTION:Bennett, Coleman & Co Ltd (BCCL), the publishers of The Economic Times and The Times of India, have acquired a stake in Mumbai-based realty major Lok Housing and Construction (LHCL) for an undisclosed sum, the company said. LHCL was one of the first real estate... More....
VSNL DIVESTS 10% IN SRI LANKAN SUBSIDIARY FOR RS 2.7 CRORE:Tata Group company VSNL has offloaded 10% stake of its wholly-owned subsidiary in Sri Lanka to Sunshine Holdings for Rs 2.72 crore. Sunshine Holdings, a Sri Lankan conglomerate with interests in pharma, travel & tourism and tea & rubber cultivation among other sectors... More....
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