Deal Buzz: Comcast-led consortium bids for ZEE Entertainment

Mint gives you the dose of top deals news reported from the newsroom across the country.

Comcast-led consortium can bid for ZEE Entertainment

The Indian cable firm, with the US cable major Comcast, private equity fund Blackstone and James Murdoch’s family office Lupa Systems, can bid for the Indian media firm, Zee Entertainment Enterprises, the Economic Times, giving information to the people. Consortium-led consortium went ahead with Zee Entertainment’s due diligence, even social media giant Facebook contacted its promoters for a possible deal. However, issues on control, the correct amount of share and valuation are mismatched, which can prove to be a deal breaker. But there is a possibility of a deal before September 2019 because Essel Group comes close to the deficit of Rs 7,000 crore, which is outstanding for the mutual fund. While the Comcast Consortium will lead, Murdoch can work as a local partner on the ground and take a small stake. Lupa’s ZEE can not hold more than 9-10%, as Rupert Murdoch’s 21st Century Fox (including Star India) after selling Disney to Walt Disney Company as part of a non-competition agreement . Read more

K-Raheja Corp prepares Mirai Asset to buy City Center in BKC

Blackstone-backed Raheja Corp has overwhelmed South Korea’s Mira Asset Global Investment in the race to acquire the former headquarter of Citibank India in the Mumbai Kurla Complex (BKC) for Rs 395 crore, Mint said about two people development Told in Spread over 130,000 sq ft, this building is known as City Center and it remains as Citibank’s headquarters till 2012. The bank was later transferred to the first International Finance Center of this area. Raheja Corp of Blackstone’s private equity firm, New York, has been running the race for several commercial properties in the major cities of the country, and currently owns several business parks under the brand’s Mindspace and Comrade, which is in 20 million sq ft Are scattered. Office Space Mumbai and Hyderabad. Mint told on July 2 that Raheja Corp of Mumbai was in the race to buy the property, even Mirae Asset became the top bidding company. The Seoul headquarter firm, which is also part of the Mira Asset Financial Group, has 413 crore worth of property is offered. Read more

Canada’s Brookfield received prime Mumbai real estate of real 750 crores

Canada’s Brookfield Asset Management, is acquiring a major Mumbai Real Estate property spread over 9.67 acres, which includes a premium hotel of 100 rooms for Rs 750 crore from Sanjay Narang-owned Mars Enterprises and Hospitality Limited Quoted about two experts. . This deal includes a five-star boutique hotel, Wattson’s Hotel and a club which occupy half of the 9.67 acres, while the other undeveloped land parcel is occupied. Toronto-based alternative asset manager, who is rapidly building his commercial real estate portfolio in India, has signed an MoU with the Narang to buy a flat land along with the hotel (land). . Brookfield is likely to use the land to develop a 1.3 million square foot office space. In addition to hotel properties, the Gordon House and Rokeyby Manor, wanting to sell property on Sahar Road in Andheri, for the last seven days, Norwood, a Scottish-based hotelier, who owns a popular restaurant, such as Pizza and The Year the Corner the Corner. Up to eight years Read more

PE funds are in line to buy Wockhardt home based business

 

Buy Funds, such as APEX Partners, Blackstone, Carlyle and KKR, are engaged in talks with the promising Indian drug maker Wockhardt for a majority stake in their domestic formulation business, the Economic Times citing the people familiar with the discussions. Apart from this, Ahmedabad-based Torrent Pharma has also shown interest in buying a 51% control stake in the yoga business, which can cost at Rs 4,000-4,500 crore. The company owned by Habil Khorakiwala had a total debt of Rs 2,453 crore till March 31, 2019 and it is due to repaying Rs 823 crore in the current financial year. Wockhardt Hospitals can sell four out of seven residual hospitals located outside of Mumbai, in Nagpur, Nashik and Rajkot. Read more

Indiabulls HFC to buy back HCD, ₹ Rs 2,705 crores spice up

Citing the company statement, Business Standard said that mortgage lender Indiabulls Housing Finance Ltd is planning to buy matured debit and masala bonds in September and October 2019, which matures in September and October 2019. There is a plan to purchase non-convertible debentures, which mature in September 2019, for Rs 1,375 crore, in which 660 crore NCDs released through public issue. Apart from this, it is also giving investors the option of early redemption because in October

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