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Deals Buzz: Zee media in talks to buy 9X media

LiveMint logoLiveMint 20-07-2017 Kavya Kothiyal

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

Zee media in talks to buy 9X media

Indian media conglomerate Zee Entertainment Enterprises is in advanced talks to buy 9X Media, which owns a clutch of Hindi and regional music channels. The deal could be announced this month, reports Economic Times. It could be a Rs180-200 crore deal. Read more

Tata group said to have sought info on Air India privatization

Tata group has informally sought details on the planned privatization of Air India, a government official said, reflecting the group’s interest in the airline it founded in 1932. Senior Tata group executives posed the questions in informal discussions “at different levels” of the government after the cabinet approved the disinvestment on 28 June, the official said, reports Mint. Read more

Tata group plans to update tech and infra business

Tata group, the Indian conglomerate that manages more than 100 operating companies, is weighing a plan to reform its technology and infrastructure businesses, people with knowledge of the matter said. The group is considering restructuring and making its technology business come under the ambit of publicly traded Tata Consultancy Service Ltd (TCS), though the decision regarding which companies to be folded under TCS is yet to be made, the people said, reports Mint. Read more

Godrej Agrovet files draft IPO papers with Sebi

Godrej Agrovet Ltd, a seller of animal feed and crop protection solutions, on Wednesday filed draft initial public offering (IPO) papers with markets regulator Securities and Exchange Board of India (Sebi). The company will sell new shares worth Rs300 crore in the IPO, reports Mint. Read more

JSW group keen to acquire troubled steel companies

JSW Group is looking for acquisition opportunities among troubled steel companies, a top executive at the group said on Wednesday, reports Mint.

“We are very keen on Monnet Ispat and Bhushan Steel,” said Parth Jindal, son of group chairman Sajjan Jindal. The group may also consider Bhushan Steel and Essar Steel if offered at the “right price”, he said. Read more

Singapore’s Ascendas buys land in Pune for Rs200 crore

Singapore-based business space solutions provider Ascendas-Singbridge Group has purchased 16-acre land parcel in Pune Kharadi locality for about Rs200 crore from a local developer, said two persons familiar with the development, Economic Times reported. The vacant land parcel is estimated to have a development potential of over 3 million sq.ft commercial space. Read more

Bajaj Finance plans to raise Rs4, 500 crore through QIP

Bajaj Finance Ltd, a subsidiary of Bajaj Finserv, is planning to raise capital through a share sale to institutional investors in the next 2-3 months, said S. Sreenivasan, chief financial officer, Bajaj Finserv Ltd. Bajaj Finance board has approved to raise Rs4, 500 crore through a qualified institutional placement (QIP), reports Mint. Read more

Peepul Capital in talks to buy Medall Healthcare

Sandeep Reddy, co-founder of India-focused private equity fund Peepul Capital Llc, is likely to acquire a controlling stake in diagnostics services provider Medall Healthcare Pvt. Ltd with backing from financial institutions, two people close to the development said, on the condition of anonymity.

Peepul has hired global investment bank Moelis and Co. to help find a buyer for Medall. Reddy is also in discussions with financial institutions to finance his buyout, reports Mint. Read more

BPTP raises Rs190 crore from L&T Finance Holdings

Real estate developer BPTP Ltd has raised around Rs190 crore from L&T Finance Holdings Ltd to complete two residential projects in Faridabad, a company spokesperson said.

BPTP owns nearly 2,000 acres in Faridabad, located in the National Capital Region (NCR) centred around Delhi. It has utilized only 1,000-1,100 acres, and plans to form joint ventures with larger builders to develop the rest, reports Mint. Read more

NCLT orders appointment of IRP against Deccan Chronicle group

Ending a five-year long wait for the lenders of the Deccan Chronicle Holdings Ltd (DCHL), the National Company Law Tribunal (NCLT) on Wednesday ordered the appointment of an interim resolution professional (IRP), besides imposing a moratorium on the liquidation of the debt-laden media company. The insolvency petition was filed by Canara Bank, stating its plea based on claims that the firm had an outstanding loan of Rs723.75 crore, reports Business Standard. Read more

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