COMMODITIES

Peek at True North’s commodity sector bet that turned into gold

March 21, 2017 | Ranjani Raghavan

Private equity firm True North Managers LLP, which has a sector-agnostic investment structure but focusses on financial services, consumer, healthcare and technology products and services, had quietly made its third bet in the commodities space.

Indian Oil to sell 24% stake in JV to US partner Lubrizol

March 16, 2017 | Reuters

India's cabinet gave the go-ahead on Wednesday for state-run Indian Oil Corp to sell a 24 percent stake in a joint venture to its U.S.-based partner Lubrizol Corp, a government statement said.

Vedanta’s Agarwal to buy $2.5 bn stake in Anglo American

March 16, 2017 | Reuters

Indian billionaire Anil Agarwal said he was buying a 2 billion pound ($2.45 billion) stake in Anglo American, sending the global miner's shares sharply higher and signalling a possible return to large-scale dealmaking in the sector.

Fairwinds PE-backed Shankara eyes $160 mn valuation in IPO

March 15, 2017 | Ankit Doshi

Fairwinds Private Equity-backed Shankara Building Products Ltd is seeking a valuation of Rs 1,050 crore ($160 million) in its initial public offering (IPO) that begins next week.

JSW Cement buys ACC’s stake in Shiva Cement

March 10, 2017 | TEAM VCC

JSW Cement Ltd, part of the billionaire Sajjan Jindal-led JSW Group, has bought cement maker ACC Ltd’s entire stake in Shiva Cement Ltd for Rs 38.67 crore ($5.8 million).

Dulux paint maker Akzo Nobel rejects $22 bn bid from US rival

March 09, 2017 | Reuters

Dutch paints and coatings maker Akzo Nobel NV rejected a 21 billion euro ($22 billion) bid from larger U.S. rival PPG Industries Inc on Thursday, saying instead it would "unlock value" by spinning off its chemicals business.

Monnet Ispat stake sale likely by March-end, says chairman

February 23, 2017 | Deepak Kumar Sahu

The process of selling a majority stake in Monnet Ispat and Energy Ltd (MIEL) is likely to be over by the end of the current financial year, Sandeep Jajodia, the company’s chairman and managing director, says in an interview.

Rosneft-led group plans to complete Essar deal next month

February 21, 2017 | Reuters

A consortium led by Russian oil major Rosneft plans to finally complete its $12.9 billion acquisition of India's Essar Oil next month, two Russian sources close to the deal told Reuters.

Tata Steel Europe's merger talks with Thyssenkrupp face delays

February 13, 2017 | Reuters

Investors expecting a deal this year in Tata Steel's talks to merge its European assets with Germany's Thyssenkrupp risk disappointment, given complications associated with the Indian-owned firm's British pension scheme.

Max Ventures to sell 49% in speciality films biz to Japan's Toppan for $30 mn

February 10, 2017 | Bruhadeeswaran R

Japan’s Toppan Printing Co Ltd will pick up a 49% stake in Max Ventures and Industries Ltd’s speciality packaging films unit for about Rs 200 crore ($30 million), the Indian company said on Friday.

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