In the latest M&A deal in India, Muthoot Finance Friday said it is acquiring IDBI Asset Management Limited and IDBI MF Trustee Company Limited in a bid to enter the mutual fund asset management space. Meanwhile, Oyo Hotels & Homes (OYO) and British private equity firm Apax Partners have shown interest to buy a significant stake in CCD parent, and Zomato is eyeing the food delivery business of Uber.
Muthoot Finance to buy IDBI MF
Gold financing company Muthoot Finance Friday said it had entered into a definitive agreement to acquire IDBI Asset Management Limited and IDBI MF Trustee Company Limited in a bid to enter the mutual fund asset management space.
Promoted by IDBI Bank in 2010, IDBI Mutual Fund (IDBI MF) is one of the profit-making AMCs in the mutual fund space with an AUM approx. Rs. 5300+ crores. IDBI MF runs 22 schemes with robust AUM across products, geography and investors.
Upon closing of the transaction by end of February 2020, both IDBI AMC and IDBI MF Trustee Company will become wholly-owned subsidiary companies of MFIN, Muthoot Finance said in a regulatory filing.
OYO, Apax eye Cafe Coffee Day
SoftBank-backed India hospitality chain Oyo Hotels & Homes (OYO) and British private equity firm Apax Partners have shown interest to buy a significant stake in debt-laden Coffee Day Enterprises Ltd (CDEL), which operates coffee chain Cafe Coffee Day (CCD).
According to a report in The Economic Times, both OYO and Apax have signed nondisclosure agreements (NDAs) with CDEL and have initiated discussions for the deal.
Other investors in the fray to buy a stake in CDEL include global private equity firms KKR, TPG Capital, and Bain Capital.
Zomato in talks to buy UberEats
Uber is seeking a price of around $500 million for UberEats.
If the deal with Zomato goes through, Uber may also invest in the Gurgaon-based online food delivery and restaurant discovery platform. According to the report, Uber has also indicated its intent to sell food business to Swiggy, but the talks between the two are yet to begin.