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Gemini Communication, a leading player in the wireless networking and Wimax solutions space, on Friday said it has acquired a majority stake in Sanat Technologies for an undisclosed amount. In a filing to the Bombay Stock Exchange, Chennai-based Gemini Communications said it has acquired a 51 per cent stake in Sanat Technologies. The acquisition would strength Gemini's focus on design, development and marketing of unique product solutions. […] S. Kumars Nationwide, along with its operating partner Emerisque, UK, has acquired Chicago-headquartered Hartmarx Corporation for $119 million (Rs 571 crore). S. Kumars Nationwide will route its investment of Rs 168 crore through its wholly-owned subsidiary SKNL North America BV, the company said in a statement to the BSE on Saturday. “The acquisition will enable SKNL Group establish a substantial footprint in the global arena and also bring significant business volumes to the SKNL Group operations in India through a ‘front-end back-end synergy’ strategy,” the company said. […] Indian outsourcer Tech Mahindra and its unit Mahindra Satyam could be merged within two years, the Economic Times reported on Thursday, citing the vice-chairman of the two firms. “I would say between 12 and 14 months. We should go in for it, if other things remain equal,” the newspaper quoted Vineet Nayyar as saying to a question on how quickly the two firms were likely to be merged. Nayyar had told a new conference on Tuesday to announce executive appointments at Mahindra Satyam he expected the two firms to be merged in the foreseeable future as it was logical and had synergies. […] Swiss drug maker Novartis AG has hiked its stake to 76.42 per cent in its Indian subsidiary Novartis India pursuant to the completion of open offer. Novartis India in a filing to the Bombay Stock Exchange said that the promoters have acquired 8,147,365 shares, or 25.49 per cent stake, in the company at a price of Rs 450 a piece, aggregating to over Rs 366.63 crore. In March, the Swiss parent had made an open offer for an additional 39 per cent stake in its Indian unit. […] Pearson, a leading UK based publisher, has formed 50:50 joint venture with Delhi-based Educomp in order to provide vocational training and acquired 17.2 per cent stake in Bangalore-based e-learning company, TutorVista that provides online tuitions to students of American and European countries. Pearson will acquire a 50 per cent stake in existing vocational institutes of the firm as per agreement. Mr Vivek Govil, President and CEO, Pearson India, said, “As for vocational training, Pearson has content and assessment capabilities. The partnership with Educomp brings execution capabilities.” He said that both acquisitions cost it about Rs 145 crore, while declining to divulge further financial details of deal. […] Chennai-based Gemini Communication, a wireless networking and Wimax solutions company today said it has acquired a majority stake in Sanat Technologies. The company has joined hands with a Switzerland-based company to float a new company for providing intelligent metering and payment operation solution. In a filing to the Bombay Stock Exchange (BSE) today the company had said that it has acquired a 51 per cent stake in Chennai-based Sanat Technologies. The acquisition would strength Gemini's focus on design, development and marketing of unique product solutions. […] The country's second-largest realty firm, Unitech, is likely to raise $200 million (nearly Rs 1,000 crore) within the next three months by selling stake in its affordable housing projects to private equity players. According to sources, Unitech is in advance stages of negotiations with some domestic and global private equity firms to raise funds for its affordable housing projects being developed under the brand 'Uni Homes'. The company plans to raise $200 million in the next quarter and is currently evaluating proposals received from various private equity (PE) firms, they added. […] Tata Steel is likely to raise its stake in Canadian mining company New Millennium Capital Corp (NML) to 80% from 19.9% at present. NML will provide iron ore for the Tata Steel UK. “Tata Steel will increase its stake to 80% in the JV,” a company official told DNA Money. After completion of a feasibility study (expected by the third quarter of 2009) of NML's direct shipping ore (DSO), Tata Steel has the option to raise stake in the company to 80% within 180 days. It will also have a 100% offtake right on the DSO production. […] CDC Group PLC, the UK's development finance institution, today committed $10 million (Rs 48 crore) to Rabo Equity Advisor's India Agri Business Fund, CDC's first investment under its new investment policy. Under the new policy, which came into effect on January 1, the lending institution will focus more on investing in the world's poorest countries. Close to 75 per cent of new investments will go to countries, such as India, with an annual gross national income per head of less than $905. The fund will invest in mid-level companies in the agri-business sector across the entire value chain – farming, logistics, production and marketing. […] City-based Gemini Communication, a wireless networking and Wimax solutions company, has acquired a majority stake in Sanat Technologies. In a filing to the Bombay Stock Exchange on Friday, the company said it had acquired a 51 per cent stake in Chennai-based Sanat Technologies. The acquisition would strength Gemini’s focus on design, development and marketing of unique product solutions. “We are planning to get into the storage space for sometime. Sanat is a very innovative company and in a very short span has been able to attain a stable position. We are keen to retain and grow its senior management,” Gemini chairman R Ramkumar said. […] |