April 2011
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Temasek in talks to buy TPG stake in India's Shriram

Singapore state investor Temasek Holdings is in talks to buy a part of U.S. private equity firm TPG Capital's holding in Indian commercial vehicle lender Shriram Transport Finance Co in a deal valued at 25 billion rupees ($561 million), the Business Standard reported on Monday. TPG, which owns 20 percent in Shriram Transport, plans to offload a significant minority stake in the non-banking finance company and has appointed Credit Suisse to advise it on the sale, the newspaper said, citing people familiar with the development. […]

Gravita India buys 60% stake in K M Udyog

Lead metals and products firm Gravita India today said it has acquired 60 per cent stake in Jammu-based K M Udyog, which has an installed lead manufacturing and refining capacity of 7,200 tonnes per annum. Following the announcement, the scrip of the company jumped to a new high of Rs 402.10 apiece on the Bombay Stock Exchange, up 2.69 per cent from the previous close. “The addition of K M Udyog, Jammu, is expected to improve the top and bottom line of the company by around Rs 65 crore and Rs 3 crore respectively during 2011-12,” it said in a filing to the Bombay Stock Exchange. […]