Bangalore-based real estate player Prestige Estates Projects said Singapore-based GIC Realty Pte Ltd, the country’s sovereign wealth fund, has signed a term sheet to explore the possibility of acquiring a ‘significant minority’ stake in the Indian company’s commercial buildings business. The term sheet is to explore an investment by Reco Jade Ind Pvt Ltd, a […]
Reliance Jio, the firm led by Mukesh Ambani, will walk away with most of the telecom assets of Reliance Communications, led by Mukesh’s brother Anil. Rcom said it has “signed definitive binding agreements with Reliance Jio Infocomm Limited for sale of Wireless Spectrum, Tower, Fiber and Media Convergence Node (MCN) assets.” The Anil Ambani company […]
The lenders of Reliance Communications have got initial bids for the company’s assets from the three big telecom companies in India, CNBC TV18 reported, quoting banking sources. The Anil Ambani Group company is under the control of its lenders after it ran aground due to high debt load and the emergence of 4G services. Three […]
Vodafone India and IdeaCellular Ltd said they agreed to sell their standalone tower businesses in India to the local unit of American Tower Corp for an aggregate enterprise value of Rs 7,850 cr (US $1.2 billion). In case the sale is completed before the merger of Vodafone India and Idea, Vodafone India will receive Rs […]
Reliance Communications said it is in talks with several parties, including Brookfield Asset Management, to sell its tower assets. “The Company is renegotiating the tower transactions with all the interested parties including Brookfield Infrastructure Group,” it said. The clarification comes after reports that Brookfield had withdrawn from the tower deal completely sent RCom’s shares plunging […]
Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited. In December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing […]
Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]
Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]
Axis Bank confirmed it had sold its 8% share in new-generation card-swiping-machine company Mswipe Technologies. In a regulatory filing, the private sector bank said it sold its 8% stake for Rs 80.94 cr, or Rs 4,249 per share. Mswipe is one of the new generation, low-cost swipe-machine companies, and offers cheaper rates to merchants. Instead […]
State-controlled telecom services provider Mahanagar Telephone Nigam Ltd said it has sought permission from the Department of Telecom to sell some of its assets to pay down debt. “In order to come out of the debt, the management of MTNL is considering the proposal for asset monetization, i.e., lease or sale of real estate and […]
Reliance Communications Ltd announced the signing of binding agreements with Brookfield Infrastructure for the sale of nationwide tower assets to Brookfield Infrastructure Partners LP and its institutional partners. RCOM will receive an upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion). RCOM will also receive Class B non-voting shares in the new Tower company, […]
OnMobile, one of the biggest providers of ring-back tones in the world, said it has decided to sell its speech recognition software for 650,000 euros, or about Rs 4.7 cr. The company said the sale was in line with its decision to focus on apps and away from on-deck services of telecom. Mobile value added […]
Spectrum trading is likely to lead to consolidation in the Indian telecom industry and four telecom operators — Bharti Airtel, Idea Cellular, Vodafone and Reliance Jio — are likely to emerge the winners — analysts said. “The industry could see emergence of four pan-India players (Bharti Airtel Limited, Vodafone India Limited, Idea Cellular Ltd and […]
Godrej Properties Ltd said it has transferred majority ownership in a special purpose unit developing an 18-acre plot in Kanakapura to Shubh Properties Cooperatief U.A. — a joint venture between APG Groep N.V., Sparinvest Property Investors and Godrej Properties Ltd.. The plot was acquired by Godrej Properties (in association with Dutch pension services provider APG) […]
Bharti Airtel said it will sell over 1100 telecoms towers across 2 countries in Africa to IHS Holding Limited, the largest mobile telecommunications infrastructure provider in Africa. The sale in Zambia and Rwanda will be followed by a 10-year leaseback contract. “The agreements will allow Airtel to focus on its core business and customers, enable […]
Power and infrastucture player Lanco plans to sell 3000 MW of assets to raise Rs 5,000 crores cash to reduce its debt, the company said. “Since last one year, we have been working on each of the projects to settle the issues and bring back viability. With all these measures as well as in the […]
