German real estate fund MPC Synergy has picked up equity in various special purpose vehicles floated by real estate developer Phoenix Mills for Rs 1,300 crore (ie $200 million). The deal is the second-largest foreign direct investment (FDI) in the Indian real estate market.
Balaji Telefilms is learnt to be in conversation with a clutch of investors to park the 25.99 per cent stake held by Rupert Murdoch’s media firm. The potential investors may include Reliance ADAG and film distribution company Eros International.
Welspun Gujarat Stahl Rohren, one of the largest steel pipe makers in India, has decided to increase the capacity of its pipe plant by 75 per cent to 1.75 million tonnes to meet growing demand for oil pipelines.
The race among Indian companies to own raw material assets in Australia is experiencing some hiccups. According to a leading environmental group from Down Under, Gujarat NRE’s plans to expand its coke mines located near Sydney could pose a major threat to the city’s water catchment area. Gujarat NRE, India’s largest coke producer, had bought the mines from mining major BHP Billiton in December 2007, for A$50 million.
East India Hotels are reported to be in talks with corporate houses and private equity firms to divest a strategic stake. Of late, there has been a lot of buying activity in the company and its shares closed 7 per cent higher Thursday.
Source Economictimes |
