Tanya Thomas

India: Aditya Birla Group in talks to acquire debt-laden IL&FS’s education arm

IETS, a fully owned subsidiary of IL&FS, operates computer labs in government schools under the build-own-operate (BOO) model.

US fund calls for sale of Essar’s UK assets to settle debt

The Ruias-controlled Essar Group is fighting off a challenge from a US-based hedge fund which is eyeing Essar’s assets in the UK, including the Stanlow oil refinery, to settle unpaid dues.

India: Adani, JNPT said to join bidding for insolvent Dighi Port

A subsidiary of South Korean steel giant Posco is also rumoured to be interested in the port.

India: LN Mittal-led ArcelorMittal revises Essar Steel bid to $5.8b

The company has also committed to pay Rs7,000 crore to settle the dues of Uttam Galva and KSS Petron.

IL&FS board fails to decide on raising funds from investors

IL&FS had about nine major shareholders, the biggest of whom are LIC, Orix Corp. of Japan, Abu Dhabi Investment Authority and HDFC Ltd.

India: Lone Star, I Squared Capital keen to buy out IL&FS’ stressed assets

Infrastructure Leasing and Financial Services (IL&FS) hopes to raise $2 billion (or Rs 10,000-12,000 crore) from the sale of its assets.

India: Reliance Infra sells Mumbai power utility to Adani

Though Reliance Infra has sold one of its profitable business ventures, it will help bolster the company’s financials by repaying debt

Hindalco’s US arm buys aluminium producer Aleris for $2.58b

The acquisition will help Hindalco expand sales in the lucrative automotive and aerospace segments, and is the Indian aluminium maker’s second major overseas acquisition after the purchase of Novelis for $6 billion in 2007.

India: JSW Steel to turn around, integrate Monnet Ispat with itself

The NCLT approved AION-JSW Steel consortium’s takeover proposal for Monnet Ispat and Energy asset.

Energy tech firm Climate Connect seeks to raise $10m Series B round

Climate Connect has so far raised $1.2 million in its seed and Series A rounds.