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Deals Buzz: JSW Steel to buy Italian steel mill Aferpi

LiveMint logoLiveMint 28-08-2017 Kavya Kothiyal

Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

DLF says stake sale to GIC will lead to Rs13,000 crore capital infusion by November

A stake sale by DLF Ltd’s promoters to an affiliate of Singapore’s sovereign wealth fund GIC Pte Ltd will see capital infusion of nearly Rs13,000 crore into India’s largest property developer, DLF said in an analyst presentation on Sunday, reports Mint. The capital infusion is critical for DLF, which has around Rs26,000 crore of debt. Read more

IPOs worth Rs2,000 crore set for September

At least four companies plan to go public to collectively raise upwards of Rs2,000 crore in September, reports Mint, citing four people aware of the development. The companies that have firmed up initial share sale plans for next month include online matchmaking company Matrimony.com Ltd, road developer Bharat Road Network Ltd (BRNL), electronics maker Dixon Technologies (India) Ltd and real estate services provider Capacit’e Infraprojects Ltd. Read more

IL&FS plans bond issue to refinance Rs6,000 crore debt

Infrastructure Leasing and Financial Services Ltd (IL&FS) plans to hit the domestic bond market to refinance almost Rs6,000 crore (about $940 million) of debt, said a senior executive. It plans to refinance debt to the tune of Rs15,000 crore this financial year, said Ramesh C. Bawa, managing director and chief executive at IL&FS Financial Services Ltd. Read more

SSG Capital Management in talks to buy stake in Emco Ltd

Asia-focused special situations investment firm SSG Capital Management Ltd is interested in acquiring a stake in transformer maker Emco Ltd, reports Mint, citing two people aware of the development. Emco is engaged in manufacturing power equipments and is the third largest manufacturer of transformers in India. Read more

CPPIB to call off Kotak JV plan for stressed assets

Canada’s largest pension fund CPPIB will call off its proposed joint venture with Kotak Mahindra Group to invest in stressed assets in India. The $525 million fund that was announced in March 2016 will be wound up as it failed to find investments in stressed assets, reports Economic Times, citing two people with direct knowledge of the development. Read more

Sahara group in talks to sell US hotels to Middle East giant

Sahara group is in talks with a large Middle-Eastern enterprise for sale of its majority stake in two prime New York hotels—including the iconic Plaza which was once owned by Donald Trump—estimated to command a billion-dollar valuation, reports PTI. Read more

Neuralink gets $27 million to build brain computers

Neuralink Corp., the startup co-founded by billionaire Elon Musk, has taken steps to sell as much as $100 million in stock to fund the development of technology that connects human brains with computers. The San Francisco-based company has already got $27 million in funding, according to a filing with the US Securities and Exchange Commission. Read more

JSW Steel to buy Italian steel mill Aferpi

Sajjan Jindal’s JSW Steel is making a fresh attempt to buy Italian steel mill, Aferpi, formerly known as Lucchini, from its new owners, the Cevital Group. It is understood that JSW Steel is in discussion with the management of Aferpi for buying the plant in Italy, reports Business Standard. JSW Steel had bid for Lucchini in 2014, when it was placed under special administration after being declared insolvent, but the deal didn’t finally materialise. Read more

Rs62,000 crore IPOs filed with Sebi

India Inc. is embarking on a record fundraising spree, bolstered by a sustained rally in the stock market and the flood of money sloshing around with domestic and overseas institutional investors. More than 150 companies have expressed their intent to raise capital amounting to an estimated Rs2.5 trillion by way of initial public offerings (IPOs), qualified institutional placements (QIPs), and follow-on public offerings, the data collated from Prime Database, a primary market tracker, show, reports Business Standard. Read more

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