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Mergers & Acquisitions | 5 June 2012

Zoroastrian Cooperative Bank Acquires Surat Based City Cooperative Bank

by Ahemad Shaikh
 
@ahemad
Mumbai based - @Zoroastrian Limited has acquired Surat based – City Cooperative Bank Limited.

With this acquisition, Zoroastrian Bank will now add a further six branches in Surat of City Cooperative Bank to its present network of twelve branches in Mumbai and Pune.

According to BS, Zoroastrian Co-operative Bank has acquired 100% holding of the City Cooperative Bank, along with its cumulative loss of R7.5Cr.

Emaar MGF Raises $404Mn Through Bonds

Emaar MGF Land Limited has raised $404Mn through a private placement of bonds with coupon of 11.25%. The bond will have tenure of seven year and with the option of redemption through three staggered equal installments starting from the fifth year.

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Grocery E-Tailer BigBasket Plans PE Fund Raise

Bangalore based grocery e-tailer BigBasket is planning to raise around R300 Cr to expand its presence in Delhi, Chennai, Pune and Ahmedabad. It had recently raised $3 Mn from Singapore based investor.

Read More...
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