As per reports, Sanjay Singal, who holds 11% stake in Bhushan Steel, is said to have initiated preliminary talks with the AV Birla group for stake sale. Chairman of the group Brij Bhushan Singal and his younger son Neeraj Singal, the managing director of Bhushan Steel, have opposed any such move, reports suggest.
DLF will reportedly acquire a controlling stake in Singapore-based Aman Resorts group for $250 million. The company has formed an equal partnership with Adrian Zecha, the founder and chairman of Aman Resorts, and signed definitive agreements to acquire a majority stake in the hospitality group.
ICICI Bank has reportedly carried out the largest rated securitisation transaction for Rs 1,929.9 crore a process that involves converting the banks car loans into tradeable securities.
Jaiprakash Associates (JAL), a part of Jaypee group, is believed to be in talks with the Aditya Birla group to acquire Bina Power (BPC) in Madhya Pradesh.
Punj Lloyd and New York-based private investment firm Global Technology Investment have reportedly bought 33% stake each in Airworks India. Airworks is one of the oldest family-owned aircraft maintenance firms in India. The two investors are putting in close to Rs 100 crore to rejig the Mumbai-based company.
GAIL (India) is understood to have got the rights to market the entire gas produced from the joint venture partners Reliance Industries, British Gas and ONGC from the Panna-Mukta-Tapti (PMT) fields. As per reprots, the Petroleum Ministry has decided to nominate GAIL to market the PMT gas from the next financial year (April 2008).
Japans Mitsui & Company has reportedly scaled up stake in the Ruchi-group-controlled Indian Steel Corporation to 20% by picking up 10% stake for Rs 65 crore.
Ambalal Sarabhai Enterprises sold land admeasuring 28,430.58 square metres to DLF Retail Developers at a consideration of Rs 51.14 crore. The land that it sold constituted only a small part of the total land of the company.
NEPC India said on 27 November 2007 its proposed foray into solar photo voltaic modules and power plant is proceeding on the right track. The company has proposed to establish a production facility to manufacture thin film solar photo voltaic modules, which is considered to be an advanced technology to generate cost effective power, and cater to the high demand for solar PV modules all over the world.
Mindteck India said on Tuesday, 27 November 2007, it is acquiring ICI Tech Holdings Inc and its wholly-owned subsidiary. The company also plans to issue 7.63 million shares to Embtech Holdings on a preferential basis, it said in a statement.
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