Top News
Aditya Birla Group may buy Colombian mine stake: reports
The Aditya Birla Group is in talks with American thermal coal miner Drummond Company to acquire significant stake in coal mines in Colombia owned by the privately held company, according to reports.Reports stated that the company needs to strengthen its mining business and utilise the coal for its captive power plants to make aluminium in India.
The Aditya Birla Group’s flagship company and aluminium maker Hindalco has been seeking environmental clearance to begin mining coal from the Mahan coal block in Madhya Pradesh, reports said.
EQT VI to acquire Vertu from Nokia
Nokia has agreed terms for EQT VI, part of the leading private equity group in Northern Europe, to acquire Vertu, the global leader in luxury mobile phones, from Nokia.Nokia believes that this is the best option for the next step in Vertu's journey of delivering excellence, enabling the brand to focus on increased opportunities for growth in the luxury category.
"With its strong brand, undisputed category leadership and attractive growth outlook, Vertu fits well with EQT VI's investment strategy. EQT VI is excited about the opportunity to develop Vertu as a standalone company and plans to drive the development of the luxury mobile phone category through significant investments in retail expansion, marketing and product development," said Jan Ståhlberg, Partner at EQT Partners, Investment Advisor to EQT VI.
Having delivered double digit sales growth over the past few years, Vertu continues to lead its class with a portfolio of high end mobile phones, increasingly led by its smartphones and tailored services, offering unique access, experiences and opportunities to a discerning and growing customer base.
Domestic News
Mitsubishi Heavy industries may acquire stake in L&T Shipbuilding: reports
Japanese engineering major, Mitsubishi Heavy industries may acquire stake in Larsen and Toubro's subsidiary, L&T Shipbuilding, according to reports.L&T Shipbuilding signed an agreement in December last year with Mitsubishi for technological assistance, ranging from design drawings to quality control, report says.
MV Kotwal, president, heavy engineering at L&T reportedly said that the company has not had any discussions with Mitsubishi on the issue, but added that the company will take an appropriate call on the matter if it comes up for discussion.
Two Foreign PE firms plans to acquire stake in SpiceJet: reports
Two foreign private equity firms is planning to acquire stake in Kalanidhi Maran-led SpiceJet, according to reports.
Reports stated that Neil Mills, CEO of the company denied rumours that Emirates, Air Asia and British Airways are picking up stake in SpiceJet.
Zicom acquires stake in Qatar based Phoenix International WLL
Zicom Electronic Security Systems Limited (Zicom) together with its Singapore based wholly owned subsidiary viz. Unisafe Fire Protection Specialists Singapore Pte. Ltd. (Unisafe Singapore) (collectively referred as Zicom Group) has acquired 49% stake and complete management control in Phoenix International WLL (Phoenix International), Qatar, a Limited Liability Company, at a valuation of USD 15 million. As a part of the Share Sale Agreement, Zicom has acquired 5% stake while Unisafe Singapore has acquired 44% stake in Phoenix International.
Phoenix International, established in 2006, is one of the leading fire security solutions providers in Qatar. Phoenix International offers turn keys solutions in fire protection and suppression projects and it has license to operate in petrochemical sector. Phoenix International has exclusive tie-up to market safety and security equipments of leading international suppliers.
HealthCare Global Enterprises plans to merge with Medica Synergie: reports
HealthCare Global Enterprises (HCG), the Bangalore-based cancer hospital chain is planning to merge with Kolkata-based Medica Synergie, in a deal estimated at Rs 3bn, according to reports.Reports stated that Premji Invest, Milestone Religare and Evolvence India Life Sciences Fund are investors in HCG.
ICICI Venture arm I-Ven Medicare is expected to exit in the merger, report says.
Henkel India shares surge as Jyothi Labs mulls merger
Henkel India reportedly shares surged over 15% to Rs 28.50 on merger plans with Jyothi Laboratories.
According to reports, the respective boards of the two companies would consider the valuation report for the purpose of exchange ratio, the fairness opinion and other matters connected to the said amalgamation on June 15.”
Jyothy Laboratories acquired a majority stake in Henkel India last year. Both companies would have a turnover in excess of Rs 10bn, with a portfolio of products that complement each other, reports added.
Global News
Nokia to acquire developers, technologies & IP from Scalado
Nokia announced plans to acquire world-class imaging specialists as well as all technologies and intellectual property from Scalado AB.
"Nokia has been working with Scalado for more than ten years and they've contributed to many of our leading imaging applications," said Jo Harlow, executive vice president, Smart Devices at Nokia. "This transaction would enable us to combine our leadership in camera devices with their expertise in imaging, helping people move beyond taking pictures to capturing moments and emotions and then reliving them in many different ways."
The Lund site is planned to become a key site for Nokia's imaging software for smartphones, in addition to Nokia's existing locations in Espoo and Tampere, Finland.
Asian investment group buys bankrupt Saab's assets
National Electric Vehicle Sweden AB has acquired the bankrupt Saab's assets for an undisclosed price, according to reports.Reports stated that NEVS intends to turn the current Saab 9-3 into an electric vehicle.
The intellectual property rights for the Saab 9-5, which are owned by General Motors Co were not included in the sale, says report.
Suntory acquires 51% stake in Narang Connect: reports
Japanese conglomerate Suntory, known for its whiskies and beers, has acquired majority stake in a subsidiary of Mumbai-based Narang Group to enter India's non-alcoholic beverage market, according to reports.Reports stated that Suntory Beverage and Food Asia, which manages the M&A strategy and administration of group companies of the Rs. 1.3 lakh crore Suntory Holdings in Southeast Asia, has bought 51% stake in Narang Connect.
This is the group's second joint venture with a multinational, having partnered French giant Danone for Qua and B'lue water in 2010, reports said.