Edelweiss Financial Services has decided to call off its proposed acquisition of Religare Enterprise Ltd.’s securities business as the latter failed to secure necessary regulatory approvals. The deal, valued at about Rs.250 cr., was announced in December.
Last Week's Deals
Entertainment network Zee Entertainment Enterprises Limited (ZEEL) has called off its deal with music broadcaster 9X Media citing non-completion of certain material conditions precedent. In October last year, Punit Goenka-led ZEEL had entered into a definitive agreement to acquire 9X Media and INX Music from New Silk Route and other shareholders for an all cash consideration of Rs.1.6 billion.
Food startup Fingerlix, which delivers ready-to-cook Indian meals, has raised Rs.8.5 cr. in venture debt from Alteria Capital Advisors LLP. Fingerlix sells a range of products including batters, mixes, parathas, snacks, Upma Mix and Biryani Mix, among other items.
Online hotel aggregator OYO has acquired Chennai-based service apartment operator Novascotia Boutique Homes, marking its first major buyout as well as establishing its presence in the service apartment and corporate executive stay segment.
Hindustan Infralog, joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), has bought 90% stake in logistics firm Continental Warehousing. The purchase consideration is below 5% of DP World’s net asset value as of FY2017 and it is the first investment of HIPL. The strategic partnership with Hindustan Infralog and its parent DP World will have huge potential for logistics infrastructure in India and will enable CWCNSL to enhance its end-to-end value-added services to customers.
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