*Mukesh Ambani's RIL is looking to acquire 26% in hospital chain Fortis and Anil Ambani backed Reliance Communications. *
*Mukesh Ambani Eyes RCom, Fortis* - Mukesh Ambani promoted Reliance Industries (RIL) is planning to acquire 26% stake in Fortis Healthcare. The acquisition helps the company to enter in to healthcare sector. *(Financial Express)* Reliance Industries (RIL) is looking at acquiring 26% stake in Anil Ambani backed Reliance Communications. (Moneycontrol)<http://www.moneycontrol.com/news/business/ril-may-acquire-26-stakercom-sources_464454.html>RIL has identified power, telecommunications, financial services and pharmaceuticals for investments in the near future. RIL is planning to utilise the free cash it generates from its oil and gas arm to fund these diversifications. The company is also looking at acquiring stake in ultra-mega power projects. *Khazanah May Buy DLF's Aman Resorts *- The Malaysian sovereign wealth fund is close to buying a controlling stake in Aman Resorts from debt-laden DLF for about $300-$350 million. The deal may not include Aman’s New Delhi property, and, if concluded, will help India’s largest real estate company cut its Rs 14,000 crore debt pile. DLF is being advised by Goldman Sachs and JP Morgan. (Economic Times)<http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/Khazanah-set-to-buy-Aman-Resorts-from-DLF/articleshow/6056666.cms> *Orient Green Power Plans Rs 900 Cr Issue* - Chennai-based Orient Green Power Company is planning to mobilise Rs 900 crore through an initial public offer (IPO) next month to part-finance its Rs 4,400-crore capex plan. The company is also planning to increase its renewable power generation capacity from the present 193 Mw to 1,000 Mw by 2013. (Business Standard)<http://www.business-standard.com/india/news/orient-green-power-files-for-rs-900-crore-ipo/398480/> *Qualcomm Eyes India Partner* - Qualcomm Inc. is in talks to sell 26% stake in the subsidiary that will do this to an Indian firm. According to Indian laws, Qualcomm needs an Indian partner which holds at least 26% stake in the venture to apply for an Internet service provider (ISP) licence from the department of telecommunications (DoT). The US chipset manufacturer paid Rs 4,912.54 crore for spectrum to offer wireless broadband services in Delhi, Mumbai, Kerala and Haryana. Qualcomm is expected to finalize the discussions and make the announcement on their Indian partner is within the next 15 days. (Mint)<http://www.livemint.com/2010/06/16212950/Qualcomm-seeks-Indian-buyer-fo.html?atype=tp> *Shriram Group Enters General Insurance Business, Eyes PE*- Shriram Group is planning to start general insurance operations in South-Asian countries. The group said it would rope in private equity and local partners, in each country for the proposed foray. The Chennai-based diversified group has a life and non-life insurance companies each, along with a South African partner, in India. (BS)<http://www.business-standard.com/india/news/shriram-group-to-foray-into-general-insurance/398474/> *IVRCL Eyes Strategic Partner* - Hyderabad-based infrastructure company IVRCL Infrastructures and Projects Ltd is scouting for a strategic investor for its Maharashtra-Goa highway project worth Rs 3,100 crore. It is also mulling to offload some of its land bank to infuse capital for further investments. (BS)<http://www.business-standard.com/india/news/ivrcl-looking-for-strategic-investor/398444/> *Rajoo Engineers Buys Wonderpack* - Rajkot's Rajoo Engineering Ltd. has acquired Wonderpack Industries for Rs 30 crore. The 100% acquisition of the Nasik-based company will allow Rajoo Engineering to increase its presence in countries where the former is already present. Post acquisition, Wonderpack will operate as a separate division of Rajoo Engineers at Nasik under the leadership of Amit Shah, the founder and managing director of Wonderpack, who has joined the Board of Rajoo Engineers. (BS)<http://www.business-standard.com/india/news/rajkot-based-rajoo-engg-acquires-wonderpack/398463/> *Aegies Evaluating 5-6 Acquisition Targets* - Aegis, the business process outsourcing (BPO) arm of the Essar Group, is working on a mix of organic and inorganic strategies to reach the $1-billion revenue mark. The company is evaluating 5-6 companies in the US, Latin America, Europe and Africa. (BS)<http://www.business-standard.com/india/news/aegis-eyes-5-6-buys-in-global-markets/398538/> *Caldwell Looks To Raise Stake In BSE* - Toronto-based Caldwell Investment Management is looking at increasing its stake in the Bombay Stock Exchange to 5%. The firm is looking to up its stake in BSE as the oldest stock exchange in India is planning for initial public offering within a year. Bombay Stock Exchange Ltd., a stock exchange, provides trading in cash, equity and debt instruments, and derivatives in India. (Wall Street Journal)<http://online.wsj.com/article/BT-CO-20100615-712544.html?mod=WSJ_World_MIDDLEHeadlinesAsia> *Resurgere Mines To Raise $53.8 Mn Through GDR* - Iron ore manufacturer Resurgere Mines & Minerals India announced that it is planning to raise approximately $53.8 million (INR 2.5 billion) from a share sale in international markets. The company's board of directors has also approved launching global depository receipts. The funds would be used for expansion. Resurgere Mines & Minerals India Ltd. is engaged in the extraction, processing and sale of mineral products and exploration and development of mining assets. (ET)<http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/metals--mining/Resurgere-Mines-to-raise-Rs-250-cr-via-GDR-issue/articleshow/6055550.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]. 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