Here are the India Business News Headlines 11th September 2017:
- Blackstone Group, world’s largest alternative asset manager, is acquiring a controlling stake in Mumbai-based distressed asset buyer International Asset Reconstruction Co. Pvt. Ltd (IARC). Blackstone will initially invest about $150 million in the Company.
- Shapoorji Pallonji group and Asia-focused distressed assets investor SSG Capital have joined hands to bid for power transmission tower maker Jyoti Structures Ltd, which is currently facing bankruptcy proceedings. Jyoti Structures was among the list of first 12 defaulters named by RBI.
- As per a statement issued by the Company, Infosys will continue to hire about 6,000 engineers annually over the next 1-2 years.
- Hotel deals are picking up pace as hospitality industry has started showing signs of a turnaround. 12 hotel deals worth Rs587 crore have already been closed in the hospitality industry this year.
- Venture capital fund, Norwest Venture Partners is in advanced talks to buy about 34% stake in Ess Kay Fincorp , a Jaipur-based non-banking financial company for about Rs200 crore. Ess Kay Fincorp provides vehicle and agriculture equipment finance as well as SME loans.
- Leclanché SA, a Swiss stock exchange-listed company is planning to enter into a JV with SUN Mobility for developing battery storage solutions. Battery costs hold the key to India’s ambitious plans for a mass shift to electric vehicles by 2030. Leclanché has been providing battery storage solutions since 1909.
- Ecom Express, the e-commerce logistics company, has raised Rs.192 Crores from its existing investors Warburg Pincus, which had invested Rs.850 Crore in the Company in 2015.
- Sachin Tendulkar co-owned sports based entertainment company Smaaash Entertainment has acquired 100% stake in SVM Bowling and Gaming for an undisclosed amount in an all cash deal.