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Mergers & Acquisitions | 16 April 2012

Basix To Expand In Africa Through Acquisitions

by Charmi Gutka
Basix To Expand In Africa Through Acquisitions
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Hyderabad based MFI - Basix Group is planning to acquire minority stakes in development credit institutions in 10 African nations. This announcement comes a month after the MFI raised R38Cr (7 Mn Swiss Franc) from The Swiss Agency for Development Cooperation to set up developmental initiatives in Africa.

Basix intends to limit its investment in African banks and other institutions to 26%. It will initially work with them to provide technical assistance and advisory services. At present, Basix operates in three Asian countries - Papa New Guinea, Bhutan and East Timor. In Africa, it is present in Ethiopia in Africa after securing contracts from the IFC.

Parsvnath To Raise Upto R700Cr By Delhi Land Sale.

Parsvnath To Raise Upto R700Cr By Delhi Land Sale.

Parsvnath Developers has put a 1.18 acre of prime commercial land near Connaught Place in New Delhi up for sale. The company has appointed Jones Lang LaSalle India to handle the process.

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Navayuga Plan To Sell Stake In Its Power Assets

Navayuga Plan To Sell Stake In Its Power Assets

Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.

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