RIL writes to MTN

RIL seems to have written a letter to MTN as well as RCOM citing a non compete agreement, according to RIL's interpretation, empowers it wtih the first right of refusal in case any group decides to sell any of its business."

Economic Times, 14 June 2008, Head line story

No takers yet for GE Money

The plan of General Electric Co. to sell the the Indian unit of its consumer finance company GE Money Financial Services Ltd. is yet to go through.

Morgan Stanley is the adviser for this deal to GE.

Around 40 investors, including Reliance Capital Ltd, Future group of Kishore Biyani, Indiabulls and Aditya Birla group have shown interest and some of them have done due diligence.

But the interested parties are not giving a quote close to the expectations of GE which a premium of $250 million (about Rs.1,073 crore) over the book value of assets.

Daiichi snaps up Ranbaxy

Economic Times dated 12 June 2008 Headline news

Daiichi snaps up ranbaxy for $4.6 B

Singhs get Rs 10 K Cr for entire 34.8% at 737 per share, Malvinder to stay as CEO.

Grasim Sells Sponge Iron Business For Rs. 1030 cr.

Tuesday, 10 June 2008

Grasim Industries said it has sold its sponge iron business-Vikram Ispat to Welspun Power and Steel for Rs.1,030 crore.

The transaction is expected to be completed within next six months.



Economic Times, 11 June 2008, page 1