India: CARE Ratings may sell 20-22% in Mauritius arm

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Homegrown ratings agency CARE Ratings may sell 20-22% stake in its new Mauritius subsidiary to two leading banks in Mauritius and the African Development Bank (AfDB) as it attempts to start operations in Africa, said a report in The Economic Times. While Mauritius Commercial Bank and State Bank of Mauritius… Read more »

India: Healthcare app provider Medinfi raises funds from individual investors

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Medinfi Healthcare Pvt. Limited, which provides an Android app to help users locate the nearest doctors and hospitals for their everyday check-ups, on Thursday said it had raised Rs.2 crore from individual investors and entrepreneurs. The investors include Ram Kumar Kakani, professor at management institute XLRI, Pradeep K. Jaisingh, chairman,… Read more »


Fairfax India hikes stake in agri-warehousing firm National Collateral to 88%

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Canada-based Fairfax India Holdings Corporation has increased its stake in agri-warehousing firm National Collateral Management Services Ltd to 88 per cent by acquiring an additional 15 per cent stake in the company, a Fairfax India spokesperson told DEALSTREETASIA. Fairfax India invested little over Rs 160 crore ($24.2 million) in National Collateral to raise… Read more »


Indian pharma firms Cipla, Glenmark in race for hived-off Teva-Allergan generics in US

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India-based Glenmark Pharmaceuticals Ltd, Cipla Ltd and Sun Pharmaceutical Industries Ltd are planning bids for Teva Pharmaceutical Industries Ltd‘s US generic products, which are expected to go for around $500-800 million. These three companies are among some 30 companies, which are bidding for the Israel-based Teva’s portfolio. The second bid of… Read more »


Thailand to launch $2.78b infrastructure fund to accelerate economy

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Thailand’s Finance Ministry is looking at taking a proposal of creating a 100-billion-baht ($2.78 billion) Thailand Future Fund to the Cabinet in the next two weeks, according to the country’s Finance Minister. The fund, which is set to support the government’s infrastructural investment projects, is expected to launch by the… Read more »


Activist investor Starboard asks Yahoo to halt plan to sell stake in Alibaba

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Yahoo Inc shareholder Starboard Value LP has urged the online media company to halt the plan to sell its stake in Alibaba Group Holdings Ltd due to the risk of incurring taxes on the sale, the Wall Street journal reported. The activist investor instead wants Yahoo to sell its struggling… Read more »


India: State-owned ports to be corporatised in two-phased reforms

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The shipping ministry has drafted a two-stage plan to convert 11 of the 12 ports owned by the Union government into corporate entities from the existing trustee setup in a much-delayed structural reform of these harbours that handle about 57% of the country’s overseas cargo shipped by sea. As a… Read more »


India: Health food dining chain Sattviko buys Call A Meal to strengthen delivery services

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In yet another instance of growing consolidation in the food space, Sattviko, the healthy food dining chain, has acquired Jaipur-based food delivery startup Call A Meal for an undisclosed amount, said a report in The Economic Times. Call A Meal, started by software engineer Kartik Singhal, offers meal services to… Read more »


US-based agribusiness major Cargill invests another $40m into Vietnamese farm sector

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US-based agro-business company Cargill will extend its investment in Vietnam by another $40 million, bringing its total investment in the Southeast Asian country to $180 million. The further investment will include a $30-million animal feed mill in southern Binh Duong province and a $10-million accord with Saigon International Terminals Vietnam to… Read more »


Thailand: Hotel operator Minor International PCL plans $1.17b investment outlay for 5 years

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Thailand-based top hotel and leisure operator Minor International PCL (MINT) has set an investment budget of around 42 billion baht ($1.17 billion) over the next five years with a target to have more than 200 hotels and 3,000 restaurant branches under the group by 2020. The target is based on… Read more »