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Deals Buzz: Softbank plans to invest in Uber

LiveMint logoLiveMint 26-07-2017 Kavya Kothiyal

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

Softbank plans to invest in Uber

SoftBank, the Japanese technology and media giant, is weighing an investment in Uber at a time when the ride-hailing company’s leadership is in flux, according to three people with knowledge of the talks, reports The New York Times. SoftBank has also invested in Didi Chuxing, which until last year was deadlocked with Uber for supremacy in China’s transportation market. Read more

IDBI Federal Life Insurance in talks for 100% stake sale

IDBI Federal Life Insurance, a three-way joint venture between IDBI Bank, Federal Bank and Belgian insurer Ageas, is exploring the possibility of a 100% stake sale, which would potentially lead to a complete exit for all three stakeholders, reports Mint, citing two people directly aware of the matter. IDBI has started the process of hiring an investment bank to manage the sale. Read more

Michael Kors to buy shoemaker Jimmy Choo for $1.2 billion

Michael Kors Holdings Ltd has agreed to buy Jimmy Choo Plc. for about £896 million ($1.2 billion), clinching the London-based maker of strappy stilettos, handbags and perfume, reports Bloomberg. The deal comes amid consolidation in the luxury industry, with Michael Kors rival Coach Inc. agreeing to buy Kate Spade & Co. in early 2017. Read more

FabHotels raises $25 million from Goldman Sachs, Accel partners

Budget hotel chains FabHotels has raised $25 million in a series B round of funding led by Goldman Sachs, a top company executive said. An existing investor, Accel Partners, also participated in the round, reports Mint. In July 2016, the company had raised $8 million in its series A round. Read more

Byju’s raises funds from Tencent Holdings

Byju’s, an online education start-up, has raised an undisclosed amount from China’s Tencent Holdings Ltd, reports Mint. The announcement comes shortly after an investment of $30 million from Brussels-based Verlinvest. The said round closed at a $600 million valuation, Mint reported in March. Read more

Amazon invests Rs1,381 crore in data services

E-commerce major has invested about Rs1,381 crore in its data services unit in November, regulatory filings showed, reports Economic Times. New Delhi-registered Amazon Data Services India raised over Rs1,367 crore from A100 Row and close to Rs14 crore from, documents filed with the ministry of corporate affairs last week showed. Read more

Prestige estate projects to raise funds by selling stake

Prestige Estate Projects is looking to raise funds by divesting stake across its business verticals, starting with the commercial and retail portfolios, reports Economic Times. The deal, which could be one of the biggest in the real estate sector in the recent past, is expected to be similar to DLF promoters’ 40% stake sale in their rental arm. Read more

Irdai gives LIC 2 years to offload excess stake

The Insurance Regulatory and Development Authority of India (Irdai) has given Life Insurance Corp. of India (LIC) two years to pare shareholdings in companies in which it owns more than the permitted 15%, reports Business Standard. LIC holds more than 15% stakes in 12 companies. Read more

Govt unlikely to demerge Air India

The government is unlikely to demerge Air India as it fears such a move could erode the value of the national carrier, reports Business Standard. InterGlobe Aviation, which runs India’s leading airline IndiGo, has expressed interest in taking over the international business of Air India. Read more

SIS IPO opens on 31 July

Security and Intelligence Services (SIS), one of the largest private security solutions and business support services companies in India, on Tuesday said its initial public offering (IPO) for Rs780 crore will open on 31 July and close on 2 August. The company has set a price band of Rs805-815 per share, reports Times of India. Read more

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