Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Hiranandani family to invest Rs3,500 crore in oil and gas business
Niranjan Hiranandani’s family is investing around Rs3,500 crore to build liquified natural gas (LNG) terminals in Maharashtra and West Bengal, in a diversification for the Mumbai developer who built the iconic 250-acre Hiranandani Gardens township in suburban Powai, reports Mint.
The energy venture operates as a subsidiary of Niranjan’s realty firm Hiranandani Communities, which primarily focuses on building large townships across Maharashtra. Read more
CapitaLand, Xander compete for Blackstone’s IT Parks
Singapore-based leading real estate company CapitaLand Ltd and global investment firm The Xander Group Inc. are the front runners to acquire Pune-based IT Parks, which is owned by US fund The Blackstone Group, reports Mint, citing two people aware of the development.
The report says the deal will be worth around Rs2,000 crore, said the first person. Others who have joined in the race include Shapoorji Pallonji-Allianz and Singapore-based investor-developer Ascendas-Singbridge. Read more
Ola in talks to buy Ridlr to improve navigation technology
In a move to improve its navigation technology and potentially expand the range of its services, cab hailing firm Ola is in talks to buy transportation app Ridlr, Mint reported, citing two people familiar with the matter.
As per the report, it would be a distress sale. Ridlr (Birds Eye Systems Pvt. Ltd) last raised capital in July 2016 when Times Internet, Matrix Partners—which is also a key investor in Ola—and Qualcomm Ventures invested $6 million into the company. Read more
Uber to sell its Southeast Asian business to Grab
Ride-hailing firm Uber Technologies Inc has agreed to sell its Southeast Asian business to bigger regional rival Grab, the firms said on Monday, marking the US company’s second retreat from an Asian market.
The deal is the industry’s first big consolidation in Southeast Asia, home to about 640 million people, and puts pressure on Indonesia’s Go-Jek, which is backed by Alphabet Inc’s Google and China’s Tencent Holdings Ltd. Read more
SoftBank, Temasek and PE eye 33% stake in FINO
SoftBank Group, Singapore state investment firm Temasek Holdings and a private equity fund managed by Morgan Stanley are in talks to buy a one-third stake in Financial Information and Network Operations (FINO), valuing the payments bank and technology company at about Rs2,000 crore, according to The Economic Times report. Read more
The report also says the proposed deal will include buying out New York-based alternate asset manager Blackstone’s 26% stake in the company and acquiring a 7% holding through a primary issue of shares.
Manipal-TPG proposes two-step deal for Fortis
A Manipal Hospital Enterprises-TPG consortium has proposed a two-step transaction that will involve Fortis Healthcare hiving off its hospitals portfolio into a separate listed entity that will then be merged with the acquirer, besides taking over the SRL Diagnostics unit, people familiar with the development told The Economic Times. Read more
On 15 March, Mint reported that The TPG Capital-Manipal Health Enterprises combine and IHH Healthcare Bhd could acquire shares from the public and banks to wrest control of Fortis, citing people familiar with the development. Read more