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Tata Tea today made an open offer to purchase an additional 20% stake in Mount Everest Mineral Water (MEMW) for Rs 95.19 crore. The Tata group firm will acquire up to 67.99 lakh equity shares at a price of Rs 140 each, to be funded through internal accruals, the company said in a public announcement. […] France Telecom on Monday confirmed it was in exclusive discussions to acquire two units of Indian network services provider GTL Ltd to reinforce its corporate services in India. “Orange Business Services confirms having started exclusive talks with GTL in order to buy two divisions,” said a spokesman at France Telecom, adding these were information technology and telecom network management businesses. The Economic Times, quoting a source close to the talks, said at the weekend that France Telecom was close to acquiring GTL's IT business for about 2.5-3.0 billion rupees. […] It's happening all over the industry. Professionals, after working through the corporate ladder for quite some time, are taking a plunge into entrepreneurship. The sector that's witnessing the trend most is the private equity fund management. Recently, a breakaway team from Citigroup and Citigroup Venture Capital International is targetting to raise a $125 million private equity fund. The fund will be managed by Samara Capital Management, and has been put together by Sumeet Narang, Gautam Gode and Radhika Dubash, who have held top positions in Citigroup and Citigroup Venture Capital International. […] Angel Broking, which proposes to enter into insurance and third-party products, plans to invest Rs 600 crore to complement its expansion plans that includes scaling up its branch network from 75 to 250 branches across the country in 3 years. Angel is planning to raise Rs 250 crore from private equity investors and rest of the amount from internal accruals. […] Goldman Sachs will pick up a 5 per cent stake in IL&FS Transportation Networks Ltd, a subsidiary of Infrastructure Leasing & Financial Services Ltd. Sources said Goldman Sachs would route the investment through its Mauritius-based wholly owned subsidiary — GS Strategic Investment Ltd. GS Strategic Investment will acquire 83.30 lakh shares of IL&FS Transportation, comprising 5.13 per cent of the equity, for Rs 83 crore. […] |