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News Round-up
` ONGC (ONGC IN) bids for Exxon Mobil's 25% stake in Angola oil block. The block
expects to produce 150,000 barrels of crude oil per day (7.5 million tones a year).
(BSTD)
` After an unsuccessful attempt in 2003 to set foot in Angola, ONGC Videsh is looking
at entering the country by bidding for US major ExxonMobil's 25% stake in a
deepsea acreage in the oil-rich African nation. (TTOI)
` SAIL (SAIL IN) may shortlist 4 companies for coal mine project. Firms to submit price
bids for 4 mt Jharkhand project. (THBL)
` SBI (SBIN IN) will renew a USD 196mn bank guarantee given to Uninor, despite the
Supreme court voicing concerns on bank loans to telecom cos. against licences as the
only security. (ECNT)
` Tata Motors (TTMT IN) will offer Nano buyers with a 4 year warranty to boost
customer's confidence as the sales of the world's cheapest car sputtered to just 509
units in Nov. (ECNT)
` Tata Motors (TTMT IN) rolls out 3 trucks for construction, mining sectors. Company to
also export the vehicles from South Korea. (THBL)
` The Munjals of Hero Group have initiated talks with lenders to secure bridge
financing for the buyout of its Japanese JV partner's equity in Hero Honda (HH IN).
(ECNT)
` Nalco (NACL IN) shortlists two cos. as partners for its USD 3.55bn smelter cum
thermal power project in Indonesia. (ECNT)
` US-based technology solutions provider Trimble said it has acquired Tata AutoComp
Mobility Telematics Ltd for an undisclosed amount. (BSTD)
` Rallis India Ltd (RALI IN) acquires Metahelix Life Sciences for USD 22 mn. (BSTD)
` Piramal Healthcare (PIHC IN) announced the buyback of 20% of its total number of
shares through a tender offer that will entail an outgo of USD 557 mn. (BSTD)
` Jindal Power is likely to launch a USD 1.55 bn IPO before March 2011. (BSTD)
` NMDC (NMDC IN), Severstal to set up steel plant in Karnataka. (BSTD)
` Siemens (SIEM IN) eyes entry into education sector. (FNLE)
` Apollo Hospitals (APHS IN) plans USD 200 mn QIP issue. (FNLE)
` ITC (ITC IN) mulls revamp of paper biz with merger of stationary arm. (THBL)
Source: ECNT= Economic Times, BSTD = Business Standard, FNLE = Financial Express, THBL = Business Line
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