George Smith Alexander
Stories by George Smith Alexander
India: Essar Steel $6b sale faces fresh delay as creditors postpone decision on bids
State Bank of India is among the biggest Essar Steel creditors.
Malaysia’s Maxis Communications set to lose $7b in Aircel bankruptcy
The loss from a failed 12-year foray in the Indian wireless market marks Malaysian tycoon T. Ananda Krishnan’s biggest-ever hit on a soured investme
Arcelor, VTB hit speed bump in bid for India’s $6b Essar Steel
Advisers evaluating the offer have expressed concerns about the eligibility of the offers from both ArcelorMittal and the VTB consortium.
Bain-backed consortium said to be highest bidder for India’s Binani Cement
The Bain Capital-backed Dalmia Bharat consortium made a final offer of more than 63 billion rupees ($981 million) for Binani Cement.
India: Birla’s UltraTech, Dalmia emerge as lead bidders for Binani Cement
UltraTech Cement and the Dalmia Bharat consortium have each made cash offers of around Rs6,000 crore.
India: ArcelorMittal, Russia’s VTB-led consortium said to vie for Essar Steel
Essar Steel could fetch a valuation of at least $6 billion in a sale.
TPG-backed consortium said to bid $1b for Tata Group’s fiber arm
The consortium is led by Mukund Rajan, the head of international operations for Tata Group’s holding company.
India: Bank of Baroda may sell Nainital Bank to bolster capital
Bank of Baroda holds 98.6% stake in the 96-year-old Nainital Bank, which had assets of about $1.2 billion as of March end
South Africa’s Life Healthcare looking to sell its stake in India’s Max Healthcare
Life Healthcare is working with Barclays to explore potential interest in its 49.7% stake in Max Healthcare and could seek about $406 million for it
Hindalco among potential buyers to bid for $2.5b aluminum producer Aleris
Mumbai-listed Hindalco made a non-binding offer through its U.S. unit, Novelis.
