FII Activity On May30,2007

The gross equity purchased was Rs.2282 (in crores), and the gross debt purchased was39(in crores).The gross equity sold was Rs.1444.60 (in crores), and the gross debt sold was 74.10(in crores). The net investment of equity was 837.40(in crores) and the net debt investment was Rs-35.10(in crores).

Airtel To Complete Stake Sale By Nov 2008

Bharti Airtel will complete acquisition of its 5.6 per cent stake held by British telecom giant Vodafone, by November next year for $1.6 billion. Vodafone had bought 10 per cent stake in Airtel in 2005 in an all-cash deal aggregating to about $1.5 billion. According to DoT''s licence norms, no single promoter can have more than 10 per cent stake in two different companies in the same circle (area of operation by cellular companies is divided into circles). Vodafone, following the acquisition of Hutchison Telecom International''s (HTIL) Indian holding in telecom service provider Hutch-Essar, would soon start its operations in India and compete with Bharti Airtel in almost all circles. The shareholding would be transferred in two tranches, the first before 31 March 2008 and the second by November 2008. This move comes after two Vodafone directors, Gavin Darby and Paul Donovan, on the board of Bharti Airtel resigned on 24 May, following the takeover of Hutch-Essar.

FII Activity On May29,2007

The gross equity purchased was Rs.1895.30 (in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.1571.10 (in crores), and the gross debt sold was 49.80(in crores). The net investment of equity was 324.20(in crores) and the net debt investment was Rs-49.80(in crores).

FII Activity On May28,2007

The gross equity purchased was Rs.2585.80(in crores), and the gross debt purchased was Rs 24.70(in crores).The gross equity sold was Rs.2732.90 (in crores), and the gross debt sold was 49.50(in crores). The net investment of equity was -147.10(in crores) and the net debt investment was Rs-24.80in crores).

Indian Oil Plans $10.68 Bln Spend By 2012

State-run Indian Oil Corp. plans to spend 432.50 billion rupees by 2012 on expanding its refining and petrochemical capacity to generate $60 billion in revenue, said the source. IOC plans to build a new 300,000 barrels a day refinery and petrochemical complex at Paradip in Orissa for 256 billion rupees and upgrade its existing refineries.The company, which currently has refining capacity of 1.2 million bpd, said it also plans to invest 32.75 billion rupees on various exploration activities and new ventures like gas distribution in various Indian states.Net profits rose 52 percent to 75 billion rupees in the fiscal year ended March 31. However, its profit in the January-March quarter was down 60 percent at 16 billion rupees.IOC, which sells oil products at government-fixed prices, is currently losing 800-850 million rupees per day on fuel sales.

ONGC To Acquire Shell''s 33% Stake In Egypt

ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), plans to acquire Royal Dutch/Shell''s 33 per cent stake in a deep-sea gas field off Egypt for $160 million and bring the fuel in liquefied form (LNG) to India.Code-named ''Project Wonder'', the North East Mediterranean Deepwater Concession in the Egypt Mediterranean Sea, has Shell as operator with 100 per cent stake and is estimated to hold close to 10 Trillion cubic feet of gas reserves.

TCS Consolidates Brazilian Operations

Tata Consultancy Services Ltd (TCS) has announced that it has increased its stake from 51% to 100% in the joint venture IT services Company TCS do Brasil. The Company acquired Group TBAs 49% stake for a consideration of $ 33.4 million. TCS do Brasil recorded a top line of $ 66.5 million for the year ended March 31, 2007 and has over 1700 employees.In 2002, the Company entered the emerging high growth Brazilian market through a 51:49 joint venture with Grupo TBA. In the synergistic relationship, Grupo TBA brought local market knowledge and client relationships, while the Company contributed world class methodologies, process and quality systems.Over the last 5 years, TCS do Brasil has been extremely successful in scaling its business, achieving market penetration and enhancing delivery capabilities thereby resulting in a high level of customer satisfaction.

FII Activity on May24,2007

The gross equity purchased was Rs.2840.10(in crores), and the gross debt purchased was Rs 584.40(in crores).The gross equity sold was Rs.2394.10 (in crores), and the gross debt sold was 34.20(in crores). The net investment of equity was 446 crores) and the net debt investment was Rs550.20(in crores)

Perfect Circle - Purchase Of Shares Of DANA Corporation By Asia Investments Pvt Ltd

Perfect Circle India Ltd has informed that on the evening of May 23, 2007 Asia Investment Pvt Ltd (AIPL) the promoter and principal shareholder of the Company has exercised the right under the right of first refusal provision in the Investment agreement between AIPL and Dana Corporation USA (Dana) pursuant to the notice received by AIPL from Dana which has been holding 34.92% shares in the Company proposing the sale of such shares. Upon the completion of the purchase of the above 34.92% from Dana by AIPL or an associate Company of AIPL in the next few days AIPL together with associated Companies, directors and relatives will hold shares in the Company in excess of 75% and therefore the minimum public shareholding required for listing of the Company shares will cease. It is the intention of AIPL to get the Company de-listed and accordingly immediately after the completion of the acquisition of the shares from Dana, AIPL will pursue the process for de-listing of the Company''s shares in accordance with the applicable laws, regulations and guidelines.

FII Activity On May23,2007

The gross equity purchased was Rs.3189.50(in crores), and the gross debt purchased was Rs157.80(in crores).The gross equity sold was Rs.2738.70 (in crores), and the gross debt sold was 15.10(in crores). The net investment of equity was 450.80(in crores) and the net debt investment was Rs142.70(in crores).

Coca-Cola Near To Acquire Glaceau

Mumbai: The Coca-Cola Company has registered a premerger notification with the US regulators regarding the proposed acquisition of vitamin water maker Glaceau. The report witnessed the shares of Tata Tea surging by 4.4 per cent on a day when the BSE Sensex increased by 0.24 per cent. The Tata group, including holding company Tata Sons and Tata Tea, holds a 30 per cent stake in Glaceau. However, the market estimates that Coca-Cola will have to shell out anywhere between $3 billion and $4 billion for the stake in Glaceau. The notification is required for proposed deals of significant sizes so that the FTC and Department of Justice can assess whether the deals are likely to reduce competition in the marketplace. Over the last year, Glaceau has grown to be the third largest player in the beverages business in the United States. The Tata group had taken over a 30 per cent stake in the enhanced water company in August last year for $677 million.

FII Activity On May22,2007

The gross equity purchased was Rs.2764.40 (in crores), and the gross debt purchased was 38.50(in crores).The gross equity sold was Rs.2286.70 (in crores), and the gross debt sold was 68(in crores). The net investment of equity was 477.70(in crores) and the net debt investment was Rs-29.50(in crores).

Sun Pharmaceutical Acquires Taro For $454 Mn

Mumbai: Sun Pharmaceuticals, a Mumbai-based drug-maker, has inked an agreement to take over Israel''s generic manufacturer Taro Pharma for $454 million (approximately Rs 1,837 crore), making it the second largest overseas acquisition by an Indian drug company. Taro Pharma''s generic profile was the clincher, indicated Sun Pharma. It is optimistic that the acquired company has an upside and can be made profitable through improved sales, product filings and efficiencies. With minority shareholders Franklin Advisers and Templeton alleging discrimination against minority shareholders. The minority shareholders hold a combined nine per cent in Taro. Last week they registered a request with the Tel-Aviv District Court seeking a temporary injunction against the transaction.

FII activity On May 21,2007

The gross equity purchased was Rs.3966(in crores), and the gross debt purchased was Rs 122.40(in crores) The gross equity sold was Rs.2905.30 (in crores), and the gross debt sold was 11.30(in crores). The net investment of equity was 1060.70(in crores) and the net debt investment was Rs111.10(in crores).

Twilight Litaka acquires Brands from Sami Labs

Twilight Litaka Pharma Ltd has informed that the Company has signed an MOU with Sami Labs Ltd, a Bangalore based Company engaged in Nutraceuticals having proprietary rights over certain patents for the purchase of 17 brands (Trade Marks). With the additions of these brands the Company expects to increase the turnover substantially in the Financial Year 2007-08.As per the agreement executed with Sami Labs Ltd, the Company has acquired ownership of these brands and will have the exclusive rights to manufacture and market the Nutraceutical products under these brands in India. Sami Labs will also continue to support the Companys foray in the domestic Nutra segment with more research based new products in nutraceutical segment.

Tatas in negotiations to acquire stake in Visteon

Mumbai: Tata AutoComp Systems (Taco) and French auto parts maker Valeo are in preliminary stages of talks to take a stake in NYSE-listed ailing automotive supplier Visteon Corporation. The acquisition of a stake in Visteon, which was spun off from Ford Motor Company in 2005, will cost $1.5-2 billion. For Taco, a 12-year-old company that is an original equipment supplier to major domestic and multinational carmakers, the take over has a strategic fit with its operations.

Sun Pharmaceutical to acquire Taro Pharma in a USD 454 million deal

Sun Pharmaceutical Industries Ltd has informed that the Company, together with its subsidiaries, has signed definitive agreements to acquire Taro Pharmaceutical Industries Ltd (TAROF, Pink Sheets), a multinational generic manufacturer with established subsidiaries, manufacturing and products across the U.S., Israel, Canada. North America represents more than 90% of Taros sates.This all-cash deal is subject to shareholder approval and requisite regulatory clearances. The Company intends to fund this USD 454 million acquisition with internal accruals and proceeds from its earlier USD 350 million FCCB. This deal values Taros equity at 230 million, or USD 7.75 per share which is at a 27% premium to its May 18, 2007 closing price of USD 6.10. The Company will also refinance USD 224 million in net debt of Taro. In addition, to provide immediate liquidity for Taro, the Company will provide interim financing to the extent of USD 45 million.

GAIL-HPCL Sign JV Agreement For City Gas Projects In Rajasthan

Gail India Ltd has informed that the Company and Hindustan Petroleum Corporation Ltd (HPCL) on May 17, 2007 signed a Joint Venture agreement for City Gas Distribution projects in Rajasthan. The agreement was signed at the Companys office by Shri. A K Purwaha, Director (Business Development), of the Company and Shri. S Roy Choudhury, Director (Marketing), HPCL in the presence of Dr. U D Choubey, CMD, of the Company and Shri. Arun Balakrishnan, CMD, HPCL and senior executives of both organizations. The Joint Venture Company will take up City Gas Distribution projects in Rajasthan and enable use of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in cities of Rajasthan for automotive and domestic use. The Joint Venture Company will start its operations in Kota for which the Detailed Feasibility Report (DFR) has already been prepared by the Company. The Companys Vijaipur Kota pipeline is already operational and the Kota city gas project will source its gas though this pipeline.

FII Activity On May 17,2007

The gross equity purchased was Rs.2497.30 (in crores), and the gross debt purchased was 47.80(in crores).The gross equity sold was Rs.2636.60 (in crores), and the gross debt sold was 24.40(in crores). The net investment of equity was -139.30(in crores) and the net debt investment was Rs23.40(in crores).

FII activity on May 16,2007

The gross equity purchased was Rs.2023.70 (in crores), and the gross debt purchased was 294.80(in crore)The gross equity sold was Rs.2354.50 (in crores), and the gross debt sold was 74.90(in crores). The net investment of equity was -330.80(in crores) and the net debt investment was Rs219.90(in crores).

Hindalco Industries Completes Acquisition Of Novelis Inc.

Hindalco Industries Ltd has informed that Novelis Inc. on May 15, 2007 has announced the completion of its acquisition by the Company. The transaction makes the Company with Novelis, the worlds largest aluminum rolled products Company and one of the largest producers of primary aluminum in Asia, as well as being Indias leading copper producer. Novelis will operate as a subsidiary of the Company.The Company entered into an agreement with Novelis, dated February 10, 2007, to acquire the Company in an all-cash transaction which values Novelis at approximately US $ 6.0 billion, including debt. Under the terms of the agreement, Novelis shareholders will receive US $ 44.93 in cash for each outstanding common share. Novelis shareholders approved the transaction at a special meeting on May 10.Based in Mumbai, India, the Company is the flagship Company of the Aditya Birla Group, a multinational conglomerate with annual revenue of US $ 14 billion and a market capitalization in excess of US $ 23 billion.

FII Activity On May 15,2007

The gross equity purchased was Rs.1908.90(in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.1848.40 (in crores), and the gross debt sold was 49.90(in crores). The net investment of equity was 60.50(in crores) and the net debt investment was Rs-49.90(in crores).

Videocon Announces $1.5 B Investment In China

Ten Indian companies, including consumer durable major Videocon will be investing $5 billion in setting up manufacturing units in China. Videocon alone would invest $1.5 billion in a liquid crystal display (LCD) product manufacturing unit in Shenzhen. The other Indian companies to have signed a memorandum of understanding (MoU) with their Chinese counterparts include ZTE Telecom India, Spice Communications, International Certification, AKS Associates, Cosmos Industries, Maharasthra Industrial Development Corporation, Rajasthan Industries Development Corporation and Unity Power. These MoUs were signed on May 15 in Beijing. Videocon MD Rajkumar Dhoot on Tuesday signed an MoU with the China Council for Promotion of International Trade (CCPIT) chairman Wan Jifei for the proposed plant in China. Industry body Assocham has sent a 35-member business delegation to Beijing to discuss business possibilities with CCPIT. Videocon''s proposed LCD manufacturing unit, which would cater equally to both China''s domestic market and the exports market, would be ready in a year, the source said.

Cadila All Set To Acquire Sarabhai Zydus Animal Health

Cadila Healthcare (Zydus Cadila) is all set to buy the remaining 50 per cent stake in its joint venture Sarabhai Zydus Animal Health Ltd to make it a wholly owned subsidiary. Zydus has inked a share purchase agreement with Ambalal Sarabhai Enterprises, in this regard. Zydus Cadila has entered into a strategic alliance with Ambalal Sarabhai Enterprises in January 2000 to integrate the animal healthcare business of both the groups to create ''Sarabhai Zydus Animal Health Ltd'', one of the leading animal healthcare companies in India. The company markets a wide range of therapies and has a strong presence in the livestock, poultry and companion animal business.

BHEL Likely To Put In Rs 3,200-Cr For Expansion

The state-owned company, Bharat Heavy Electricals Ltd (BHEL) is looking at around Rs 3,200 crore investment during the Eleventh Five-Year Plan period to hike manufacturing capacity from the current 6,000 MW to 15,000 MW per annum. BHEL would be spending about Rs 1,200 crore to augment its capacity to 10,000 MW by the end of 2007. BHEL said it would be fully able to meet its investment requirements and meet funding requirements through internal accruals and resources raised from the market. The company said the enhanced capacity together with super critical technology and skilled workforce would further strengthen the company''s position in the domestic market. BHEL would also replace ageing facilities for improving product quality, reducing cost and cycle time and enhancing productivity, besides modernising and upgrading equipment at various power plant sites for meeting enhanced erection load and shorter commissioning schedules.

FII Activity On May 14 2007

The gross equity purchased was Rs.1858.60(in crores), and the gross debt purchased was Rs29.60(in crores).The gross equity sold was Rs.2194.80 (in crores), and the gross debt sold was 162.40(in crores). The net investment of equity was -336.20(in crores) and the net debt investment was Rs-132.80(in crores).

Zydus Cadila Buys Out JV Stake In Sarabhai Zydus Animal Health Ltd

Cadila Healthcare Ltd has announced that the Company has entered into a share purchase agreement with Ambalal Sarabhai Enterprises to acquire the remaining 50% holding in the joint venture Company, Sarabhai Zydus Animal Health Ltd., which will make it a 100% subsidiary Company of the group.Sarabhai Zydus Animal Health Ltd., formed in the year 2000, is amongst the leading animal healthcare Companies in India. The Company markets a wide range of therapies and has a strong presence in the livestock, poultry and companion animal business. With 250 employees, the Company has a countrywide marketing network. The Company also has alliances with Abic, a Teva group Company and Lillydale of U.K. Sarabhai Zydus Animal Health Ltd., posted a turnover of Rs 88.87 crores in 2006-07.

Punj Lloyd Secures Contract By GAIL

Punj Lloyd Ltd has informed that the Company has been awarded a contract by GAIL (India) Ltd to execute a contract for Phase II of Panvel Dabhol Pipeline Project for a value of Rs 122.65 crores.

Jet Airways To Mop Up $400Mn Via Rights Issue

The Naresh Goyal promoted airline, Jet Airways has decided to mobilize $400 million through a rights issue to fund its expansion plans. At present, Jet is in talks with investment bankers to finalize the modalities of the rights issue, which is expected in the next four months. Industry experts said that Jet Airways could offer nearly 25 million fresh shares to existing shareholders at the prevailing stock price. However, this will not dilute the stake of the promoter. Jet''s promoter Naresh Goyal owns 80% stake in the airline. Besides raising 15% of the cost of its $2.5 billion bill for 20 wide-bodied aircraft for international operations and 10 Boeing 737s for domestic operations, the airline is scouting funds for working capital and other expansion plans. In addition to $400 million, Jet Airways is also looking at raising $50 million for turning around Air Sahara, which is now re-branded as JetLite.

FII Activity On May 11,2007

The gross equity purchased was Rs.2047.10 (in crores), and the gross debt purchased was Rs 7.50(in crores).The gross equity sold was Rs.1855.60 (in crores), and the gross debt sold was nil. The net investment of equity was 191.50(in crores) and the net debt investment was Rs7.50(in crores).

Whirlpool To Invest USD 20 Mln For Expansion

Hyderabad: Whirlpool of India, a subsidiary of global home appliances major Whirlpool Corporation, to invest $20 million (around Rs 80 crore) for introduction of new products over the next 18 months. The company has also allocated Rs 70 crore towards advertising and market spend for the current year. Whirlpool is aiming to become the Indian market leader in the refrigerator category. The company has a 25 per cent share in the refrigerator market, about 4.5 per cent less than that of LG Electronics India, the current market leader. Apart from Mastermind refrigerators, the company unveiled Sensation Neo washing machines and MagiCool air-conditioners here on May 10. It hopes to notch up a 27 per cent market share in the refrigerator category, 20 per cent in the washing machine category and 10 per cent in the air-conditioner category in the country this year. The company''s operating profit for April-December 2006 stood at Rs 44 crore. Gross sales during the period stood at Rs 1,300 crore.

Videocon To Establish Plant For Its Loss-Ridden Electrolux

MUMBAI: Home appliances maker Videocon Industries on May 10, declared it will establish a manufacturing facility at Kashipur in Uttaranchal at an investment of Rs 150 crore to turn its loss-incurring company Electrolux into a profit making entity. Videocon will infuse Rs 150-crore in the manufacturing plant at Kashipur, which will manufacture Electrolux home appliances apart from some of its own products. The four-door refrigerator is priced at Rs 99,990 and targets a niche market in metros and larger cities. The new plant would have a manufacturing capacity of 10.35 lakh units of Electrolux appliances. The company expects to foray into the black in 2007-08 and has fixed a turnover target of Rs 700 crore. With a turnover target of Rs 700 crore this fiscal, we will become profitable.

FII Activity On May 10,2007

The gross equity purchased was Rs.1974.10(in crores), and the gross debt purchased was Rs35.80(in crores)The gross equity sold was Rs.1950.80 (in crores), and the gross debt sold was nil. The net investment of equity was 23.30(in crores) and the net debt investment was Rs35.80(in crores).

FII Activity On May 9,2007

The gross equity purchased was Rs.1611.80 (in crores), and the gross debt purchased was 774.90(in crores)The gross equity sold was Rs.1834 (in crores), and the gross debt sold was nil.The net investment of equity was -222.20(in crores) and the net debt investment was Rs-774.90(in crores).

Vodafone Finishes Hutch Acquisition

New Delhi: After almost 3 months since it first declared the decision to buy Hutchison Telecom International Ltd''s stake in Hutchison Essar, UK-based telecom major Vodafone on May 9, said that that it has finished the deal. The move comes after the company received the final approval from the Finance Minister, Mr P. Chidambaram. Vodafone will pay $10.9 billion in cash to HTIL, instead of the earlier declared $11.1 billion, reflecting retention and closing adjustments agreed between Vodafone and HTIL. The Foreign Investment Promotion Board was investigating whether the deal between Vodafone and HTIL violated the FDI norms. After holding meetings three times to discuss the complex shareholding in the company, green signal was given by FIPB on condition that further equity sales in the cellular company will have to be done after obtaining Government approval. Essar Group, said, they are delighted that Vodafone has got all regulatory approvals and has completed the acquisition of Hutchison''s shareholding in Hutchison Essar.

BNP Subsidiary Acquires 49.9Pc Stake In Sundaram Home Finance

Chennai: Union de Credit pour le Batiment SA (UCB) will pay Rs 196.98 crore to buy 49.90 per cent stake in Sundaram Home Finance Ltd, a arm of Sundaram Finance Ltd. UCB, a arm of the Paris-headquartered international bank BNP Paribas SA, specialises in mortgage financing. UCB will purchase the stake via an agreement with Sundaram Finance. Of the total buy value, Rs 146.98 crore will go to Sundaram Finance and Rs 50 crore will be infused in Sundaram Home Finance. The joint venture will combine the strength of the Sundaram Finance brand, the extensive distribution reach and retail credit management with the specialised housing finance skills of UCB and the global brand strength of BNP Paribas. The release that the mortgage market in India is driven by the housing needs. The partnership will contribute to the growth of domestic housing finance industry. The joint venture with Sundaram Housing is its first outside Europe.

FII Activity On May 8,2007

The gross equity purchased was Rs1646.20. (in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.1549.50 (in crores), and the gross debt sold was 54.20(in crores). The net investment of equity was 96.70(in crores) and the net debt investment was Rs-54(in crores).

ICICI Bank Mulls Lures To Win Over Domestic Investors

ICICI Bank is squeezing global investment bankers for the best deal even as it works out sops for retail investors in India to sell its Rs 20,000-crore equity issue. India''s second-largest bank is confident of divesting its shares to foreign institutions, but isn''t sure of domestic retail investors. International investors are hoped to purchase three-fourths of the shares in the Rs 20,000-crore equity offering. The government is considering treating the Singapore firms as separate and eventually allows them hold 10% each in ICICI Bank. Driven by its own prospects, the bank may succeed in getting Wall Street investment banks Goldman Sachs and Merrill Lynch sell the issue for less than 1% fees ($50 million). Traditionally, issuers have paid between 1.25% and 2% for international issuances.

Tata Tea Enters Into Joint Venture Agreement With Zhejiang Tea

Tata Tea Ltd has informed that the Company on May 08, 2007 has entered into a Joint Venture agreement with Zhejiang Tea Import and Export Company Ltd of Peoples Republic of China. The agreement involves setting up a joint venture Company at Economic Development Zone of Anji County, Zhejiang, PRC for manufacture and marketing of Green Tea Polyphenols, other green tea extracts, cold and hot water soluble instant tea, liquid tea concentrates and other value added tea beverage products. The Company will own 70% of the registered capital of the joint venture Company. The project cost is estimated at Rs 70 crores to be funded by a mix of equity capital and borrowings.

FII Activity On May 7,2007

The gross equity purchased was Rs.2151.40 (in crores), and the gross debt purchased was nil. The gross equity sold was Rs.1939.40(in crores), and the gross debt sold was nil.The net investment of equity was 212(in crores) and the net debt investment was nil.

Mercator Lines To Acquire 4 Dry Bulk Vessels Totaling 305,000 DWT

Mercator Lines Ltd has informed that in one of the mega deals in the Shipping Sector in the current year, the Company has entered into MOAs for acquiring 4 Dry Bulk Vessels totaling 305,000 DWT through its subsidiary Mercator Lines (Singapore) Pte. Ltd. with estimated investment of appr. Rs 1000 crores. The vessels are expected to join the fleet of the Company between June-July 2007.Last month Mercator Lines (Singapore) Pte Ltd successfully raised USD 51 million by way of issue of convertible bonds which are listed on Singapore Stock Exchange. About two months back Mercator Lines (Singapore) Pte Ltd invested about Rs 530 crores for acquiring 2 kamsarmax vessels. During past 12 months, Mercator group has committed to invest about Rs 2750 crores in the expansion of its fleet and offshore business.

FII Activity On May 04,2007

The gross equity purchased was Rs.2753.50 (in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.2697.30 (in crores), and the gross debt sold was 2.30(in crores). The net investment of equity was 56.20(in crores) and the net debt investment was Rs-2.30(in crores).

FII Activity On May 3, 2007

The gross equity purchased was Rs.1557.70 (in crores), and the gross debt purchased was Rs nil. The gross equity sold was Rs.1862.30(in crores), and the gross debt sold was nil. The net investment of equity was -304.60(in crores) and the net debt investment was nil.

Tata Steel - Corus Acquisition Financing

Tata Steel Ltd on May 03, 2007, has announce that the refinancing of its GBP 3,620 million acquisition bridge facility and revolving credit facility with had been provided by Credit Suisse, ABN AMRO and Deutsche Bank to fund its acquisition of Corus Group plc that was completed on April 2, 2007.The refinancing is by way of non recourse Facilities totaling GBP 3,170 million (the Refinancing Facilities) which are being Arranged by a syndicate led by Citigroup, ABN AMRO and Standard Chartered Bank. This refinancing provides significant benefits and flexibility over the term of the financing to the group.The Refinancing Facility comprises a five year GBP 1670 million amortizing loan which will be syndicated by the joint book runners to relationship banks of the Company and Cows and a seven year minimally amortizing term loan of GBP 1500 million that will be syndicated to institutional investors and banks in the US, Europe and Asia. The balance amount of the acquisition bridge is being repaid by an additional equity contribution by Tata Steel / Tata Steel Asia which had been previously disclosed on April 17, 2007.

Wockhardt - Acquisition Of Negma Lerads S.A.S. - France

Wockhardt Ltd has informed that the Company has entered into an agreement with Ifrah Finance S.A. of France to acquire Negma Lerads S.A.S, a French Pharmaceutical Group having a sales turnover of USD 150 million during the last financial year.