*JM Financial manages assets worth Rs 8,569 crore in a total of 27 investment plans.*
*Mukesh Ambani Likely To Buy Majority In JM Financial *- Billionaire Mukesh Ambani, who controls oil major Reliance Industries Ltd (RIL), and also has presence in some other sectors including retail, is in talks to buy a majority stake in JM Financial Asset Management Pvt Ltd. The move could be seen as his first attempt to enter Anil Ambani’s territory since the estranged brothers scrapped a “non-compete” agreement between them a week ago. JM Financial manages assets worth Rs 8,569 crore in a total of 27 investment plans. (Mint<http://www.livemint.com/2010/05/30233553/Mukesh-Ambani-may-buy-MF-firm.html> ) *Kaiser, Caldwell Acquire Stake In BSE *- Despite Dubai Financial Group calling off its plans to sell stake in the Bombay Stock Exchange (BSE), Toronto-based investment broker Thomas Caldwell and philanthropist George Kaiser have managed to acquire shares in Asia’s oldest bourse. Over the past few months, Kaiser has acquired over 3% in BSE, while Caldwell has increased his shareholding from 3.8% last year to 4.25% through multiple private deals. The shares had been purchased from brokers, as well as some of the institutional investors in BSE. (BS<http://www.business-standard.com/india/news/kaiser-caldwell-acquire-stake-in-bse/396537/> ) *SAIF Partners To Buy 30% In Catmoss *- Private equity firm SAIF Partners is in advanced talks to buy around 30% stake in Delhi-based kidswear retail chain Catmoss for Rs 70 crore. The deal follows global PE majors Bain Capital and TPG Growth’s $86-million investment in apparel manufacturer, exporter and retailer Lilliput Kidswear Pvt Ltd, for an undisclosed significant minority stake last month. Catmoss will utilise the fund in expanding its presence across the country. It currently runs around 150 exclusive brand outlets, besides presence in large format stores and multi-brand outlets. (ET<http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/PE-firm-may-buy-30-in-Catmoss/articleshow/5986870.cms> ) *Piramals In talks To Sell Glass Biz *- The Ajay Piramal group, which sold its domestic drug formulations business to Abbott Laboratories for Rs 17,000 crore recently, has started negotiations to sell its glass business to Hindusthan National Glass & Industries. The Kolkata-based container glass company Hindusthan National Glass has signed a non-disclosure agreement with Piramal, and the two parties are now discussing the valuation of the deal. Reportedly, Piramals want a premium on the market value of Piramal Glass on the grounds that the company is now out of the woods, while Hindusthan National has asked for a discount since the acquirer will have to take care of the company’s debt, which is estimated at around Rs 1,000 crore. (ET<http://economictimes.indiatimes.com/Corporate-Trends/articleshow/5992546.cms> ) -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
