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Deals Buzz: KKR to buy WebMD for $2.8 billion

LiveMint logoLiveMint 25-07-2017 Kavya Kothiyal

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

KKR to buy WebMD for $2.8 billion

Private equity giant Kohlberg Kravis Roberts has struck two deals focused on health and wellness, agreeing to buy WebMD and taking a majority stake in the Nature’s Bounty Company, reports The NewYork Times. Kohlberg Kravis Roberts said that Internet Brands, a KKR portfolio company, had agreed to buy WebMD Health Corporation for about $2.8 billion. Read more

Wipro Ventures invests in NY-based VC fund Work-Bench

Wipro Ventures, the $100 million corporate venture arm of India’s third-largest software services firm Wipro has invested an undisclosed amount in a New York-based venture capital (VC) fund, Work-Bench, as it continues its strategy of investing in startups and funds that can help its parent company, reports Mint. Wipro Ventures had invested in Israel-based TLV Partners in 2016. Read more

Microsoft likely to invest $100 million in Ola parent

Microsoft Corp. could invest $50-100 million (Rs320-640 crore) for a small stake in ANI Technologies Pvt. Ltd, which runs Ola, in a deal that could see the ride-hailing service switch to Microsoft’s Azure cloud platform from Amazon Web Services (AWS), reports Mint, citing two people familiar with the matter. In February, Microsoft announced a long-term cloud services deal with Flipkart Ltd. Read more

Uber at risk of losing as rivals raise $9 million from Softbank

Uber Technologies Inc. is at risk of losing out on big global chunk as Grab, the leading provider of ride-hailing services in Southeast Asia, said Monday it raised $2 billion from Japan’s SoftBank Group Corp. and China’s Didi Chuxing and expects to receive another $500 million from new and existing backers. The money will help Grab, which already dominates the region, defend its turf against Uber in one of the San Francisco company’s most important global markets after retreats from China and Russia. Read more

CCI approves Vodafone-Idea merger

The Competition Commission of India (CCI) approved the proposed merger between Vodafone India and Kumar Mangalam Birla-owned Idea Cellular on Monday, a key step in paving way for creation of India’s largest telecom company by subscribers, reports Economic Times. UK-based Vodafone Group Plc’s India unit and Idea will have almost 400 million customers and a 41% revenue market share when they merge. Read more

Yatra online acquires ATB services to expand business

Yatra Online Inc, India’s second-largest online travel operator, has acquired corporate travel services provider Air Travel Bureau (ATB) in an estimated cash-and-debt deal of $22.5-27.5 million, the Nasdaq-listed company announced on Monday, reports Economic Times. Yatra Online will pay about $8 million at the time of the first closing, expected to take place in mid-August, acquiring the majority of ATB shares in the process. Read more

IL&FS PE arm to raise $1 billion infra fund from pension funds in South Korea, Japan

IL&FS Investment Managers Ltd will raise a $1 billion infrastructure fund from pension funds in South Korea and Japan to invest in Indian companies which build power plants, logistic and set up waste management businesses, reports Economic Times, citing two people with direct knowledge of the plan. Read more

ASK PE raises Rs535 crore to create Rs1,000 crore fund

ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, has raised Rs535 crore as part of its plans to create a Rs1,000 crore fund, reports Times of India. Amit Bhagat, managing director and chief executive officer, ASK Property, said the objective of the fund is to provide flexible and patient capital. Read more

Paytm strikes JV with Hong Kong firm AG tech

Paytm has struck a joint venture (JV) with Hong Kong stock exchange listed firm AG Tech Holdings as it forays into online gaming distribution and content business, reports Times of India. The JV will offer mobile games and user engagement activities to Indian consumers by leveraging the group’s decade-long experience in creating mobile entertainment products and Paytm group’s distribution network, the note to the stock exchange said. Read more

NCLT admits insolvency petition against Amtek Auto

A National Company Law Tribunal (NCLT) bench in Chandigarh admitted State Bank of India’s (SBI) petition for bankruptcy proceedings against Amtek Auto Ltd on Monday, said a lawyer aware of the matter, requesting anonymity.

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