China’s Sinochem has approached the National Mineral Development Corporation, or NMDC, for a joint bid to acquire Canada’s PotashCorp, the world’s largest fertiliser company by capacity.
Coal traders are teaming up with utilities like Tata Power, Reliance Power and CESC to jointly scout for overseas coal mines to bring down the cost of acquisition and also speed up the process of buying mines.
The UK-listed private equity (PE) firm 3i, which is grappling with a series of exits by senior executives globally, has sold off one of its early investments in steel pipemaker Welspun Gujarat Stahl-Rohren.
Lenders to Ispat Industries, rattled by the steelmaker’s shaky finances, are exploring options of selling their shareholding in the company to rivals Tata Steel and ArcelorMittal India.
Indospace Logistics Fund plans to spend around Rs 500 crore in developing an integrated logistics park in NCR.
The Tata Group is putting in place an elite task force of senior executives, working and retired, who will act as mentors and give operational guidance to the portfolio companies of Tata Capital’s private equity practice.
Private equity major 3i India has closed down its buyout division and merged the team with its infrastructure unit.
The decision will not have an impact on the group’s succession plan, said a person familiar with the development.
The GMR Group has decided to keep on hold an agreement on distribution of promoters’ stakes among family members till it studies the impact of changed tax and corporate law regulations.
Novelis, the international subsidiary of Hindalco Industries, could bid for the rolled products division of global metals major Rio Tinto Alcan as the Aditya Birla Group seeks to buy high value manufacturing products in Europe and the US.
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