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News Round-up
The govt. fixed a price band of INR 340 - 375 a share for raising up to USD 275mn
through initial sale of shares in Manganese Ore India. (ECNT)
Coal India (COAL IN) hopes to acquire a stake in at least one of the Australian mines
of Peabody Energy in a few months & is in advanced negotiations with foreign firms
for long-term coal import contracts. (ECNT)
JSW Energy (JSW IN) has agreed to acquire Canada's CIC Energy for USD 413mn, in a
transaction that will give the Indian co. ownership of high grade coal mines in Africa.
(ECNT)
Nestle (NEST IN) has increased its stake in Indian arm by 0.8% through stock market
purchases during the quarter ended Sept., at current market prices it would have
spent USD 75.55mn to increase its stake in Nestle India to 62.76%. (ECNT)
Dr Reddy's Lab. (DRRD IN) has bought GlaxoSmithKline's oral penicillin facility &
products in the US for an undisclosed amount. (ECNT)
Kingfisher Airlines will raise USD 250-300mn through GDR by Jan next year. (TTOI)
Tata's make first defence purchase, acquire Hyderabad based HBL Elta Avionics for an
undisclosed amount. (TTOI)
GVK Power & Infrastructure (GVKP IN) to bid for Navi Mumbai Airport. (FNLE)
Bharti (BHARTI IN) to acquire 51% in Tebma for USD 17 mn. (FNLE)
HPCL (HPCL IN) and its partners will divest 40% of their stake in gas bearing block in
offshore Australia to US-based Apache corp. (FNLE)
Aegis Logistics (AGIS IN) will invest upto USD 890 mn to build an oil terminal complex
at Pipavav Port in Gujarat. (FNLE)
M&M (MM IN) has signed an agreement to buy 70% stake in SsangYong Motor
Company for USD 463 mn. (BSTD)
Bharti Shipyard (BHSL IN) plans to acquire majority stake in TEBMA. (BSTD)
Elecon Engineering (ELCN IN) said its Material Handling Equipment division has
received orders worth USD 8 mn from Essar Projects (India) Ltd. (THBL)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line.
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