stake | Pixr8 News

4Aug By Gauri SinghNo Comments

CHINA

China Unicom and AliCloud Set to Form a Joint Venture

China United Network Communications Group and Ali-Cloud have announced that both the companies are getting into an association and teaming up for the purpose of getting a better tap into cloud business opportunities. This joint venture has been registered in Beijing with a capital of 353 million yuan ($51.4 million). The basic idea behind the establishment of this venture is to meet the growing demand from China's governmental institutions and State-owned enterprises for cutting-edge software and information technology solutions. "The new company will leverage China Unicom's infrastructure capabilities, and nationwide operational services in the government and enterprise markets, and combine Alibaba's prowess in cloud computing, big data and artificial intelligence," China Unicom state...

Dutch Brewer Heineken to Acquire Stake in China’s CR Beer

4Aug By Gauri SinghNo Comments

ACQUISITION

Dutch Brewer Heineken to Acquire Stake in China’s CR Beer

Dutch premium brewer Heineken which is the world’s second-largest beer maker is reportedly acquiring 40 percent stake in China’s CR Beer Co Ltd (China Resources Beer). According to the statement of CR Beer, the deal is worth $3.1 billion, and post-acquisition, Amsterdam-based Heineken will have a greater access to the network of China's premium beer space and a better understanding of the Chinese market. CR Beer is the largest brewer in China and is known for manufacturing the best-selling Snow Beer brand. This purpose of the company behind this deal is to further develop and enhance the high-end market of beer in China. With the help of Heineken's international distribution network, the brewer will be able to boost up the growth of Snow Beer and other brands in the international ...

General Atlantic Acquires ICICI Venture’s Stake in KIMS

16Jun By Gauri SinghNo Comments

ACQUISITION

General Atlantic Acquires ICICI Venture’s Stake in KIMS

India’s largest private sector fund ICICI Venture has sold off 30% of its stake in hospital chain Krishna Institute of Medical Sciences to its competitor General Atlantic worth Rs 850 crore. Through this deal, the company is expected to make close to four-fold returns on its initial investment in four years. The valuation of the Hyderabad based hospital chain has been raised to around Rs 2,700 crore from Rs 850 crore in 2014. In 2014, ICICI Venture had invested about Rs 220 crore in the hospital chain, which had around 500 beds. The hospital chain KIMS, which had received the SEBI approval for a public offering had to postpone its share sale plan because of the regulatory changes and pricing uncertainty. KIMS has stated that the regulatory challenges were one of the reasons for the a...

An Investment Firm to Acquire Majority Stakes in Leelaventures Ltd.

12Jun By Gauri SinghNo Comments

ACQUISITION

An Investment Firm to Acquire Majority Stakes in Leelaventures Ltd.

The securitization and reconstruction firm JM Financial Asset Reconstruction Co. has reportedly been planning lately to acquire majority stakes by converting a part of the debt to equity in the popular Leelaventure Ltd. According to the reports, Leelaventure’s board has approved an enabling resolution and the deal has been confirmed on Monday. Earlier the investment firm had a stake of 26% in the holding company Mumbai-based hotel chain, but after the completion of the deal JM financial will hit the stake percentage of 75% that is the majority stake in the firm. The board of the holding firm has given its consent for issuing up to 125 crore equity shares with the face value of Rs 2 each in one or more tranches to JM financial. JM Financial Asset Reconstruction Company Limited is t...

Gaja Capital Attempts to Invest Rs 135 Cr in a Premium School Chain

11Jun By Gauri SinghNo Comments

FUNDING

Gaja Capital Attempts to Invest Rs 135 Cr in a Premium School Chain

A private equity investment firm Gaja Capital Partners is in advanced talking with the aim to invest an amount of $20 million (₹135 crore) in return of a stake in an educational and learning company called Kangaroo Kids Education Ltd (KKEL). The stake to be exchanged for the stated amount has still not been determined. A source claimed, “The companies are in the final legs of closing the deal, and the announcement is expected soon. Gaja Capital would make the investment from its $240-million Gaja Capital III fund.” Gaja Capital is a privately owned investment company which provides growth capital to ambitious entrepreneurs to build the future of Indian economy. The company specializes in investments in the smaller end of the middle market. The India-focused mid-market private equity ...

Walmart Sells 80% Stake in its Brazilian Business

5Jun By Gauri SinghNo Comments

USA

Walmart Sells 80% Stake in its Brazilian Business

The American Multinational Retail Corporation Walmart Inc. has announced to sell the majority of its stake that is 80% stake in its Brazilian business operations to a private equity company Advent International Corp. decreasing its existence in countries where it is battling and struggling for profitability. Walmart is a US-based retail company which is the world’s largest firm in terms of revenue generation. The company is now on the tracks of exploring and expanding overseas by selling assets in lower-growth markets and investing in high-profit opportunities like India and China. Walmart expects to keep a 20% stake but, the terms and financial details of the deal have not been revealed as of now. The retail company, however, has expressed an expectation of recording a non-cash net ...

TATA Group is Looking To Acquire Air India

22Jun By PriyankaNo Comments

BUSINESS

TATA Group is Looking To Acquire Air India

Tata group is believed to be discussing buying a stake in debt-laden Air India amid the government looking at various options, including full or partial privatisation, to revive the national carrier, sources said. When contacted, a Tata group spokesperson said, "We dont comment on speculations." Tata's already have two airline joint ventures Vistara and AirAsia India. Staying afloat on taxpayers money, Air India has been in the red for long and various proposals, including government think-tank Niti Aayog suggestion for complete privatisation, have been made. Sources said Tata group is evaluating options on buying stake in Air India. In this regard, there have been internal meetings as well as meetings with government representatives, sources added. There was no official word f...

Infosys Denies Reports of Co-founders Selling Stake

9Jun By PriyankaNo Comments

News

Infosys Denies Reports of Co-founders Selling Stake

IT major Infosys today denied media reports suggesting that its co-founders, including N R Narayana Murthy, were planning to sell their entire stake in the company. "We would like to clarify reports in media speculating on plans of stake sale by the promoters. This speculation has already been denied categorically by the promoters," the company said in a statement. The country' s second largest IT services firm was reacting to a media report that Murthy and other co-founders Nandan Nilekani, Kris Gopalakrishnan, S D Shibulal and K Dinesh were looking to sell their entire stake in the company worth about Rs 28,000 crore. "The company further reiterates that it has no information on any such development. We would like to appeal to the media not to fuel such speculative stories as th...

ITC to Sell Entire Stake in US Subsidiary For $24 Million

10Oct By NitishNo Comments

BUSINESS

ITC to Sell Entire Stake in US Subsidiary For $24 Million

Diversified group ITC will sell its entire stake in US-based wholly owned subsidiary 'King Maker Marketing' for USD 24 million (about Rs 160 crore). King Maker Marketing, registered in the state of New Jersey, USA, is engaged in the distribution of ITC manufactured cigarette products in the US market. The Corporate Management Committee has approved divestment of company's entire shareholding in King Maker Marketing, Inc, USA, a wholly owned subsidiary, along with assignment of certain trademarks owned by the company," ITC said in a BSE filing. It further said: "An agreement for this purpose has been entered into on October 8, 2016... The consideration to be received is estimated around USD 24 million in terms of the share purchase agreement and subject to regulatory approvals and ...

Social Media Startup Sagoon Plans to Raise USD 1.8 mn By Diluting 10 pc Stake

30Jun By AnkitaNo Comments

FUNDING

Social Media Startup Sagoon Plans to Raise USD 1.8 mn By Diluting 10 pc Stake

Indian social media startup Sagoon plans to raise USD 1.8 million by diluting about 10 per cent stake in the company. "We are raising maximum of USD 1.8 million at a valuation of USD 15 million. Per share selling price is USD 3.75," Sagoon founder Govinda Giri said. Started in 2014, Sagoon offers a social commerce platform for users worldwide and plans to launch an equity crowd-funding initiative with the help of Bankroll. "The amount of capital raised will be used to expand the platforms user base, enhance product infrastructure and develop and launch a mobile app," Giri said. Sagoon also plans to introduce its social smart card later this year which rewards users for interacting with the sites features. Users will receive a free smart card when they...