Emami may acquire Paras Pharma for Rs40bn: report
Emami Ltd. is reportedly in talks to acquire a controlling stake in Paras Pharmaceuticals Ltd., for Rs40bn. Paras Pharma, has over-the-counter and personal care brands such as 'Moov', 'Krack', 'D Cold', 'Set Wet'etc.
Harsh Agarwal, Emami group director, was quoted as saying that "Actis and Sequoia are interested in selling their stake and once the talks begin we are interested in acquiring a controlling stake." Actis Advisors Pvt Ltd and Sequoia Capital India Advisors Pvt Ltd jointly hold 70% stake in Paras while the rest is held by the promoter, adds report.
Marico Ltd., also joined the race and is reporetdly interested in picking up a controlling stake in Paras Pharmaceuticals Ltd. Chaitanya Deshpande, head of strategy, mergers-acquisitions and investor relations, Paras Pharmaceuticals, was quoted as saying that "there is interest from our side certainly, there is no doubt about that. Its just come out and we are looking at it (Paras) and my assumption is that all FMCG's will be interested."
Marico interested in acquiring Paras Pharma: report
Marico Ltd is reporetdly interested in picking up a controlling stake in Paras Pharmaceuticals Ltd. Chaitanya Deshpande, head of strategy, mergers-acquisitions and investor relations, Paras Pharmaceuticals, was quoted as saying that "there is interest from our side certainly, there is no doubt about that. Its just come out and we are looking at it (Paras) and my assumption is that all FMCG's will be interested."
GMR Infra in talks with AgustaWestland for aero SEZ deal: report
Symphony Service acquires CoreObjects Software
International News
Santos sells 15% interest in GLNG to Total for A$650 mn
Santos has today executed an agreement with Total for the sale of a 15% interest in GLNG for A$650 mn.In parallel, PETRONAS has also entered into an agreement to sell a 5% interest in GLNG to Total. Upon completion of the Santos and PETRONAS sale transactions, the ownership structure of GLNG will be: Santos 45%; PETRONAS 35%; Total 20%.
Total is one of the world’s largest LNG companies with interests in eight producing LNG projects and one under construction. In 2009, it had total LNG sales of 8.8 million tonnes.
Total has interests in the Qatargas 1 & 2, Adgas, Yemen, Oman and Qalhat LNG projects in the Middle East, the NLNG and Angola projects in Africa, the Snohvit project in Norway, the Bontang project in Indonesia and the Ichthys project in Australia. The GLNG transaction however represents the first major investment by Total in an LNG project using unconventional gas anywhere in the world.Read more
7-Eleven bids for Casey's
Convenience store chain 7-Eleven Inc has offered $40 a share to buy Casey's General Stores Inc in a deal valued at about US$2 bn, according to a report.The report stated that 7-Eleven's offer exceeds the $38.50 a share offered by Alimentation Couche-Tard Inc of Canada, which had made a hostile bid for Casey's.
Casey's has reportedly said that it received a proposal from a "strategic third party" to buy the company at $40 a share.
Biomed Realty Trust plans to acquire five properties in San Diego: report
Teck Resources plans to sell US$700 mn of debt: report