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Mergers & Acquisitions | 20 March 2012

Mannoj Kumar Jain May Acquire Rajasthan Royals For $200Mn

by Irfan Khan
 
@irfan
Kolkata based Mannoj Kumar Jain may acquire upto 90% stake in @Jaipur_IPL Pvt Ltd- the holding company Rajasthan Royals franchisee. for around $200Mn, valuing the IPL-I champions at $222Mn.

The $222Mn valuation seems to be at the lower side when compared to $370Mn paid by the Sahara Group for the Pune Franchise in 2010, however it could still mean a tidy profit for the original promoters, who bought the franchisee rights for a total of $67Mn.

The deal needs approval from BCCI for completion as there are pending legal and regulatory issues against the team owners.

Angel Investment To Be Classified As Income, Taxed at 30%

According to a new clause proposed in the Union budget 2012, all individual investments including angel investments will be classified as income from other sources and will be subject to a tax of 30%.

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Airtel To Sell African Tower Assets

After selling 3,100 telecom towers in four African countries to Helios Towers Africa, Bharti Airtel Limited is in talks with American Tower Corporation (ATC) and Eaton Towers for monetizing the assets in African countries including Nigeria, Ghana and Uganda in a deal pegged at $1.5-2 Bn.

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