Weekly Finance Corporate deals Merger and acquisition delas

1. Top Headlines
Unichem sells Indore SEZ plant to Mylan for $26.3M.
Fast food chain Burger King may tie up with PE firm
Everstone Capital to enter India.
Reliance Jio receives unified licence to offer telecom &
voice telephony services across India.
Bus ticketing portal TicketGoose raises $2.9M from USbased Indventure.
Micromax eyes push into other emerging markets
including Russia and Eastern Europe, looking to acquire a
software firm.
Twitter to be valued at $11B at IPO.
L&T Infotech eyes Polaris FT's services business in $400M
deal
Idea Cellular to raise Rs 3,750 crore via QIP route.
HomeShop18 raises $14M afresh led by existing investor
GS Shopping
Inside The Story
Unichem sells Indore SEZ plant to Mylan for $26.3M
Unichem Laboratories Ltd is selling its Indore-based SEZ plant to generic and specialty
pharmaceuticals maker Mylan Laboratories Ltd for Rs 161 crore ($26.27 million), as per
a stock market disclosure."The board of directors of Unichem at its meeting held on
February 15, 2013 had approved the sale of Indore SEZ plant to Mylan and members of
the company had approved the sale on March 29, 2013 through a postal ballot," the
company said in the filing.Mumbai-headquartered Unichem makes pharmaceutical
ingredients and pharmaceutical formulations for various therapeutic areas, including
gastro-intestinal, cardiovascular, diabetes, psychiatry, neurology, anti-bacterial, antiinfectives and pain management. It has six drug manufacturing locations across the
country.
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2. Fast food chain Burger King may tie up with PE firm
Everstone Capital to enter India
US-based fast food chain Burger King, which had reportedly revived its plans to enter
India recently, is tying up with private equity firm Everstone Capital for rolling out
franchisee-run outlets in the country, as per a report in The Economic Times quoting
sources.The fast food giant has held discussions with various potential partners in India
down the years but had failed to sew a deal. However, the firm has gone ahead with a
major push outside its home market over the last two years and the entry into India can be
seen as part of the strategy.
Reliance Jio receives unified licence to offer telecom &
voice telephony services across India.
Reliance Jio Infocomm Ltd (RJIL), the telecommunications arm of Reliance Industries
Ltd, has received a unified licence for all 22 services areas across India, as per a stock
market disclosure. With this, RJIL has become the first telecom operator in India to get a
pan-India unified licence.The licence will allow RJIL to offer all telecom services,
including voice telephony under a single licence.RJIL signed the agreement on October
21, 2013 after submission of desired documents and payment of requisite entry fee.After
getting this unified licence, RJIL has migrated its existing ISP licence along with
broadband wireless access (BWA) spectrum to the unified licence with authorisation for
all services except global mobile personal communication by satellite service (GMPCS)
under the unified licence in all service areas.
Bus ticketing portal TicketGoose raises $2.9M from USbased Indventure.
Chennai-based Efficsys Infotech India Pvt Ltd that owns and operates the bus ticketing
portal TicketGoose.com, has raised $2.9 million (Rs 18 crore) from US-based investor
Indventure. The capital raised will be used for scaling up its operations, increasing the
workforce and enhancing customer experience.This is the startup's third round of
funding. Last year in October it raised Rs 3 crore from angel investor and former Gums
India CEO R Narayanan and a group of other investors based in the US. Before that in
July it had raised Rs 4.5 crore from unnamed US-based angel investors. The company
had posted a turnover of around Rs 50 crore in FY12 and was targeting Rs 125 crore for
FY13.
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3. Micromax eyes push into other emerging markets
including Russia and Eastern Europe, looking to acquire a
software firm
The largest homegrown mobile handset brand Micromax is looking to grab a bite of the
rising demand in other emerging markets. The firm, which had previously expanded its
footprint in neighbouring markets such as Bangladesh and Sri Lanka, is now rolling out
operations in Russia and Romania, an Eastern European market, as per separate media
reports citing the firm’s co-founder.Micromax has already set up an office in Russia and
also partnered with web search engine service Yandex NV to develop software
application for its devices, according to a report by The Hindu Business Line.Sharma said
the firm will also look to acquire a software company and is already on the lookout for a
good fit. However, he did not share the details.
Twitter to be valued at $11B at IPO
Seeking to avoid a repeat of Facebook Inc's much-maligned public debut, Twitter Inc
revealed more modest ambitions, saying its initial offering would raise up to $1.6 billion
and value the company at up to about $11 billion.The valuation was more conservative
than the $15 billion some analysts had expected for the social media phenomenon,
potentially attracting investors who might consider the money-losing company's listing
price a better deal, with room to rise.Twitter had signaled for weeks it would price its IPO
modestly to avoid the sort of stock plummet that spoiled Facebook's coming-out party. It
said on Thursday it intends to sell 70 million shares between $17 and $20 apiece, raking
in up to $1.4 billion for the company.If underwriters choose to sell an additional
allotment of 10.5 million shares, the offer could raise as much as $1.6 billion.
L&T Infotech eyes Polaris FT's services business in $400M
deal
Financial technology firm Polaris FT is gearing up to sell its services business unit and
L&T Infotech is believed to be leading the race to acquire this business estimated to be
valued at about $400 million (Rs 2,440 crore). Others who had been in talks with Polaris
FT for this deal include Tech Mahindra and NEC, but the discussions are now moving
towards possible closure with L&T Infotech emerging as the frontrunner, investment
banking sources involved in the deal said.
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4. Idea Cellular to raise Rs 3,750 crore via QIP route
Idea Cellular Ltd, India’s fourth largest wireless services operator, is looking to raise Rs
3,750 crore ($611.6 million) in a slowing market, ahead of the government finalizing
mergers and acquisitions guidelines for the telecommunication sector. The Aditya Birla
Group controlled company has appointed a clutch of investment bankers to help raise
funds by selling shares to institutional investors, according to two people close to the
development. Separately, Idea Cellular plans to issue preferential equity shares of up to
Rs 750 crore ($122.32 million) to Axiata Group Bhd. Since the Axiata Group had
committed to the preferential issue, it would stay out of the qualified institutional
placement programme. Idea Cellular has appointed Standard Chartered, Bank of
America-Merrill Lynch, Morgan Stanley and Citibank for the proposed QIP.
HomeShop18 raises $14M afresh led by existing investor
GS Shopping
TV18 Shopping Network Ltd, the teleshopping and e-commerce arm of Network18 that
runs under the HomeShop18 brand, has closed $14 million (Rs 87 crore) follow-on
funding round with existing investors GS Home Shopping (GS), funds managed by OCP
Asia Ltd (OCP Asia) and Network18.GS is investing $11 million while OCP Asia and
Network18 will invest the remaining amount. The transaction values HomeShop18 at
$360 million (Rs 2,230 crore).This comes six months after the firm raised fresh capital of
$30 million (Rs 163 crore back then) from OCP Asia and Network18. OCP Asia and
Network18 put in $15 million each. This transaction valued HomeShop18 at $330 million
(Rs 1,790 crore).
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