According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
In what will be the largest media deal in India, Multi-Screen Media (MSM), which runs Sony Television in India, is set to buy Ramoji Rao-owned Eenadu TV's (ETV's) bouquet of 11 regional channels.
After eight years of joint operations in news television, the relationship between Rupert Murdoch-controlled STAR Group and Ananda Bazar Patrika (ABP) TV has run into rough weather.
Six months after the Paras deal, Actis wants to exit Sterling Hospitals, a Gujarat-based multi-speciality hospital chain with six centres, according to three independent sources in the know.
Olympus Capital, UTI's PE arm to fund Rs 400 crore.
Japanese firm to retain Camlin, Camel brands.
Though all the regulatory and ministerial approvals are yet to come in, two working groups with specific mandates have been set up.
If the deal is successful, it would be the first such acquisition for the ADA Group.
Fair valuation of minority stake in joint venture at core of dispute; different worth of shares in two Essar entities a thorny issue.
Ruias to challenge Vodafone's put option, continue reverse-listing plan.
Last week, Essar had decided to prepay $900 million of this debt to foreign lenders.
Nine years after parting ways, Prannoy Roy and Rupert Murdoch are again coming together for a unique airtime sale and marketing alliance.
Three independent people with knowledge of the talks said the group had been selected in the first round and was now likely to make a formal bid.
Vedanta had proposed to buy a 51 per cent stake in Cairn India for $9.6 billion in the middle of last year. The Cabinet Committee on Economic Affairs is expected to take up the issue next week.
The fund, with an initial corpus of $150 million, is set to be the first of its kind, said two independent industry sources familiar with the development.
At present, when Indian corporates declare dividends, a dividend distribution tax is slapped at 15 per cent.
As it firms up its telecom re-entry strategy, Reliance Industries subsidiary Infotel Broadband has told telecom tower companies that it will pay only half the prevailing rental for towers taken on lease.
Four years after buying Novelis, a company three times its size, Hindalco is now banking on the Atlanta (US)-headquartered aluminium rolling and recycling major to fund its Rs 23,000-crore expansion plan in India.
With Reliance Industries openly expressing displeasure about the merger between its joint venture gas partner, Atlas Energy, with Chevron, all eyes are now on Atlas' special shareholder meeting on February 16, called to approve the proposed merger.
After 15 months of negotiations, the Aditya Birla Group has finally agreed to buy out the US firm Columbian Chemicals Company (CCC) for $875 million from One Equity Partners, the merchant banking arm of JPMorgan Chase. This has catapulted the group to become the world leader in carbon black with a combined two million tonne annual production.
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