Archive for February, 2011

Creamline Dairy Products Limited planning to raise Rs 100 crore via private equity, funds for increasing its portfolio

Comments Off | 02-27-2011

Creamline Dairy Products Limited is mulling the raising of an estimated Rs 100 crore, targeted at increasing the firm’s portfolio of products. The firm is in advanced talks with a private equity firm to raise the Rs 100 crore. The Hyderabad based seller of the ‘Jersey’ brand of dairy products manufactures various dairy products, including

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Ascendas India Trust to acquire Portfolio of 5 Buildings in Hyderabad

Comments Off | 02-27-2011

Singapore based Ascendas Property Fund Trustee Private Limited, the Trustee-Manager of Ascendas India Trust is to acquire Phoenix Infocity Private Limited’s portfolio of 5 buildings in Hitec City 2 Special Economic Zone, Hyderabad. Two of the buildings are completed and 100% occupied, while the other 3 buildings are expected to be completed over the next

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Delta Corp Limited picks up large stake in Marvel Resorts

Comments Off | 02-24-2011

Delta Corp Ltd announced it has acquired around 67-100% stake in Marvel Resorts Pvt Ltd. The stake purchase was undertaken through Delta Corp Ltd’s subsidiary Delta Hospitality and Leisure Pvt Ltd. The transaction was for a consideration of Rs 54 crore. The announcement was made through a statement sent to the Bombay Stock Exchange.
Marvel owns

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BP to pick up 30 per cent stake in 23 oil and gas blocks controlled by Reliance Industries in India

Comments Off | 02-23-2011

Reliance Industries and BP Tuesday went into a partnership agreement for joint venture investments in the oil and gas sector. The partnerships were signed in London between Reliance Industries Ltd’s Chairman and Managing Director Mr. Mukesh Ambani and BP Group Chief Executive Mr. Robert Dudley.
The partnership encompasses BP taking a 30 per cent stake in

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McDonald’s Corporation divests its Indian joint venture business to partner

Comments Off | 02-23-2011

US based food major McDonalds Corporation has sold 50 per cent stake in Hardcastle Restaurants Pvt Ltd, a joint venture between McDonalds and Indian BL Jatia Family. Hardcastle Restaurants Pvt Ltd is one of the two equal joint ventures McDonalds has invested in India. The BL Jatia Family will convert the business into a franchise

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Mahindra Aerospace looking for strategic investors including OEMs and tier I suppliers

Comments Off | 02-21-2011

Mahindra Aerospace Pvt Ltd has announced it is looking for a strategic investor, including OEMs and tier I suppliers that will help Mahindra Aerospace Pvt Ltd access both customers and technology. The firm is investing Rs.284 crore in a 20-acre new manufacturing unit at Narsapura in Karnataka for components, assemblies and aerostructures.
Mahindra Aerospace Pvt Ltd

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Pierburg India Pvt Ltd acquires the bearings business division of Kirloskar Oil Engines Ltd

Comments Off | 02-20-2011

Pierburg India Pvt Ltd has acquired Kirloskar Oil Engines Ltd’s bearings business division.  Pierburg India Pvt Ltd is the Indian auto component manufacturing subsidiary of Germany based Rheinmetall. The investment is for a consideration of Rs. 87 crore. The bearing division has manufacturing units in Khadki, Pune and MIDC, Ahmednagar.
The investment will see Pierburg acquire

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HDFC Property Ventures Limited sells 50% stake in Joint Venture project

Comments Off | 02-19-2011

HDFC Property Ventures Limited has sold its 50 per cent stake in its JV project, Nitesh Indiranagar Mall to JV partner Nitesh Estates Limited. HDFC’s real estate arm invested $20 million in Nitesh’s 1.5-million-square feet mall project at Indiranagar in Bangalore in 2009 and given the rate of 20 per cent return on investment, it

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Infrastructure India Plc to acquire 99.99% stake in Vikram Logistic and Maritime Services

Comments Off | 02-18-2011

Infrastructure India Plc is investing in Logistic & Maritime Services Pvt Ltd (VLMS), for a 99.99% stake. Logistic & Maritime Services Pvt Ltd develops and operates transportation and container processing infrastructure in India. Infrastructure India Plc is an AIM-listed infrastructure investment company.
Infrastructure India Plc is raising $53 million at 60.5 pence a share and acquiring

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International venture capital firm Sequoia Capital picks up stake in Mumbai based Lovable Lingerie Ltd

Comments Off | 02-17-2011

Renowned international venture capital firm, Sequoia Capital, is to pick up a 6 per cent stake in Mumbai based Lovable Lingerie Ltd, reported the India Economic Times. The investment is for an estimated Rs 20 crore, in a pre-IPO placement, valuing the company at around Rs.330 crore. The 6 per cent stake will be acquired

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