India Digest: PE majors eye Sai Life stake; Blackstone, Embassy target $1b REIT listing

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The PE firms are looking to acquire Tata Capital’s 33 per cent stake in Sai Life Sciences for around $130 million.

Blackstone PAG

India: Bajaj Electricals to acquire cookware brand Nirlep Appliances for $6m

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Nirlep will become a wholly owned subsidiary of Bajaj Electricals following the deal


Xiaozhu, Airbnb’s China rival, raising $100m in new funding round

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The startup was valued at over $1 billion after raising $120 million last November in a funding round led by Jack Ma’s Yunfeng Capital.


Chinese regulators approve Qualcomm’s $43b acquisition of NXP Semiconductors

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The decision by Chinese regulators will allow the transaction to be completed ahead of a July deadline set by NXP.


Japan’s SoftBank to invest up to $100b in Indian solar power projects

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The company is expected to make the investment through a fund backed by Saudi Arabia’s government.


Abraaj seeks court-led restructuring as it battles creditors

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Abraaj’s move comes less than five months after some of its investors commissioned an audit to investigate the alleged mismanagement of money in Abraaj’s healthcare fund.


Continuum founder may buy back Morgan Stanley’s majority stake

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Morgan Stanley Infrastructure Partners, which manages over $4 billion globally, had invested $212 million in Singapore-based Continuum Wind in 2012.


India’s Tata Steel Europe JV hits roadblock, but it is not a deal-breaker

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The opposition from some Thyssenkrupp investors, which may be causing concern, is on the structure of the deal.


India: ICICI Bank moves NCLT against Punj Lloyd to initiate insolvency proceedings

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SBI is the leader of the lenders forum for Punj Lloyd.


Australian cancer treatment firm Sirtex accepts $1.4b offer from China’s CDH

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The deal will result in the termination of an agreement to sell itself to Varian Medical Systems Inc.