Indian banks are seeking to set up shop in Mauritius in order to gain from possible business the African continent would provide.
Deals
Russian tycoon plans to sell USD3.7 billion Uralkali stake- report
Russian tycoon Suleiman Kerimov had been planning to sell 21.75% stake in Uralkali, held through his foundation, said reports.
Sanofi could repurchase L'Oreal's stake
Analysts said Sanofi could buy back its L'Oreal shares with cheap debt to boost earnings. Sanofi Aventis' Chief Executive Officer said on Friday that repurchasing L'Oreal's 9% stake in the drugmaker might make sense.
Dots receives USD51 million in refinancing
Salus Capital Partners provided Dots, the fashion apparel retailer, a USD51 million refinancing package through a senior secured credit facility with a term loan.
KKR divests shares in TDC
KKR, the buyout firm, sold off its 11% shareholdings in Danish telecommunications firm TDC to institutional investors.
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Saudi Telecom, whose goal is to repay a USD1.2 billion debt, is planning to sell off its subsidiary to raise the funds.
Tata Capital had been planning to launch a private equity fund in the African region. Tata Group's financial services unit, Tata Capital had been planning to launch an Africa-focused private equity fund.
According to Bechtel EAME President David Welch, the growing business in the Gulf region required the opening of a new office.
According to a report by The Economic Times, India Infoline would be separating its brokerage business to meet banking regulations.
Cloud Security inked a common stock purchase agreement with Kodiak Capital Group. Internet security company Cloud Security Corp announced that it had inked a common stock purchase agreement with investment company Kodiak Capital Group.
General Growth Properties spent USD 567 million to repurchase shares, mostly from Pershing Square Capital Management.
ECI Partners announced the sale of its portfolio company Ascribe to MIS Group for GBP 57.5 million. ECI Partners sold IT software supplier company Ascribe to MIS Group for GBP 57.
According to a report by Forbes news magazine, the sale of Madison Square Garden Company (MSG)'s Fuse cable TV music channel was a more tactical rather than strategic move to exit from a floundering business unit.
According to a Forbes news magazine report by contributor Peter Cohan, Western Digital's subsidiary HGST bought Virident, a flash storage supplier, for USD685 million in cash.
