COMMODITIES

Vedanta sweetens merger plan for Cairn shareholders

July 22, 2016 | TEAM VCC

A year after London-listed mines and energy company Vedanta Resources Plc moved to merge cash rich oil unit Cairn India Ltd with its flagship but debt heavy Indian arm Vedanta Ltd (formerly Sesa Sterlite), it has now proposed to tweak the plan.

ONGC Videsh raises $1 bn to finance Russian oil field deal

July 22, 2016 | Rounak Kumar Gunjan

State-run ONGC Videsh Ltd (OVL) raised $1 billion from the international market to refinance its acquisition of a 15% equity stake in Russia’s JSC Vankorneft.

Prem Watsa-led Fairfax to acquire 51% in Privi Organics for $55 mn

July 14, 2016 | Bruhadeeswaran R

Fairfax India Holdings Corporation, part of India-born Canadian billionaire Prem Watsa's Fairfax Group, has signed a pact to acquire a 51% stake in Privi Organics Ltd for about Rs 370 crore ($55 million) in its sixth deal in the country within a year.

Nalanda Capital almost exits Carborundum with average returns

July 13, 2016 | TEAM VCC

Nalanda Capital, an India-focused PE-style investor in public equities, has sold bulk of its holding in Murugappa Group's abrasives company Carborundum Universal Ltd, pulling the plug on one of its oldest bets in the country.

LafargeHolcim to sell Lafarge India to Nirma for $1.4 bn

July 11, 2016 | TEAM VCC

LafargeHolcim Ltd said on Monday it has agreed to sell Lafarge India Pvt Ltd to Nirma Ltd for $1.4 billion (Rs 9,400 crore) including debt, in a deal that will complete the India leg of the global merger of French cement giant Lafarge and Swiss building materials group Holcim.

Tata Steel pauses sale of UK assets, looks for partner

July 09, 2016 | PTI

Putting on hold its UK business sale amid Brexit uncertainty, Tata Steel today decided to explore other alternatives including joint venture with German giant ThyssenKrupp AG.

Bilt's $500 mn deal to sell Malaysian unit comes unstuck

July 06, 2016 | TEAM VCC

Ballarpur Industries Ltd (Bilt), India’s largest paper company, said on Wednesday it has scrapped its proposed deal to sell loss-making Malaysian unit Sabah Forest Industries Sdn (SFI) to Pandawa Sakti (Sabah) Sdn Bhd, Malaysia, for an enterprise value of $500 million.

JK Paper bids to buy two units of Bilt

July 05, 2016 | TEAM VCC

Avantha Group firm Ballarpur Industries Ltd (Bilt), the country's largest paper company, said on Tuesday that it has received a preliminary interest from Singhania Group's JK Paper Ltd to buy two out of its five paper plants in the country.

Jaiprakash Associates saves deal to sell cement plants to UltraTech

July 04, 2016 | TEAM VCC

Jaiprakash Associates Ltd has finalised a deal to sell nearly two-thirds of its cement business to UltraTech Cement Ltd, in a development that gives it a breather in its attempt to stave off creditors seeking to take over the debt-laden company.

Essar Energy exits Kenya Petroleum for $5 mn

June 24, 2016 | PTI

Essar Group firm Essar Energy Overseas today announced that it will sell its 50 per cent stake in Kenya Petroleum Refineries (KPRL) for around USD five million to the African nation's government.

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