Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Planet Hollywood, Little Caesars among 60 global food brands to enter India
More than 60 global food and beverage brands, including theme restaurant chain Planet Hollywood and pizza chain Little Caesars, are planning to enter India, investing an estimated $1 billion and opening as many as 5,000 outlets over the next five years, reports Mint. Read more
Bain, Carlyle in race to buy Sutures India for $425 million
Private equity (PE) funds Bain Capital LP, Swiss fund Partners Group AG, Advent International Corp. and Carlyle Group are in the race to acquire surgical equipment maker Sutures India Pvt. Ltd in a deal worth about $425 million (Rs2,740 crore), reports Mint, according to two people aware of the development. Read more
Royal Sundaram General Insurance to raise up to $100 million
Royal Sundaram General Insurance Co. Ltd, the insurance business of financial services group Sundaram Finance, is looking to raise equity capital up to $100 million, reports Mint, citing three people aware of the development. Read more
Everstone in talks to buy Kenstar, Crompton Greaves out of the race
Homegrown private equity group Everstone will enter in exclusive talks with the promoters of home appliances brand Kenstar to acquire it after Advent International and Temasek-backed Crompton Greaves pulled out of the race, reports Economic Times, citing two people with direct knowledge of the deal. Read more
Crompton Greaves Consumer Electricals Ltd offered to pay around Rs1,440 crore to buy home appliances brand Kenstar from Videocon group, Mint had reported earlier, citing two people directly aware of the talks on 9 August. Read more
Carlyle Growth to acquire Visionary Revenue for Rs420 crore
Global private equity fund Carlyle Growth will purchase Visionary Revenue Cycle Management, a provider of healthcare solutions, for $65 million (Rs420 crore) from the company’s promoters and venture capital investors, said three people with knowledge of the deal. Chennai-based VRCM had raised Rs15 crore from venture capital firm Indo-US Venture Partners in 2010, reports Economic Times. Read more
Investment commitment of $11.25 billion from private sector at World Food India
The three-day mega food fair ended on Sunday with an investment commitment of worth $19 billion including $11.25 billion from private sector in 50 memorandums of understanding (MoUs) signed while many participants said it would help bring focus on India’s food processing sector, reports IANS. Read more
HDFC Bank launches $25-30 million startup fund
HDFC Bank, the country’s second-largest private lender, is ramping up its focus on start-ups and has launched a fund to help them access capital as it seeks to expand its footprint in the growing space, reports Times of India. Read more
Bharti and Del Monte JV ties up with Kikkoman for soy products
India could soon become a global sourcing hub for soy sauce as FieldFresh Foods, a joint venture between Bharti Enterprises and Del Monte Pacific, has partnered with Japanese food company Kikkoman to manufacture its products here, reports Times of India. Read more
Valic trims Flipkart valuation to $7.9 billion
Mutual fund investor Valic Co. has trimmed the valuation of India’s most valuable start-up Flipkart, months after the e-commerce market leader raised nearly $3 billion from marquee investors led by Japan’s SoftBank, Tencent Holdings, eBay and Microsoft—an indication that some smaller investors in Flipkart are still divided over its valuation, reports Mint. Read more
Unichem to return 50% of proceeds from Torrent deal to shareholders
Unichem Laboratories Ltd plans to return to its shareholders more than 50% of net proceeds it will receive from the sale of domestic formulations business to Torrent Pharmaceuticals Ltd, reports Mint. Read more
Qatar Airways to buy 9.6% of Cathay Pacific for $662 million
Qatar Airways Ltd agreed to acquire a stake in Cathay Pacific Airways Ltd, a deal that would make it the third-largest shareholder in the premium carrier as Asia’s biggest international airline faces mounting competition from low-cost and mainland Chinese rivals. Read more
Indian Oil to raise Rs700 crore via bonds to fund Ennore LNG terminal
Indian Oil Corp. Ltd (IOCL) is planing to sell bonds worth Rs700 crore to part-finance the construction of its upcoming natural gas terminal at Ennore in Chennai, reports Mint, citing two people familiar with the development. Read more