Aditya Birla Group to buy US Company for $900 mn

Aditya Birla Group To Buy US Company For $900M - The Aditya Birla Group is set to acquire US carbon black manufacturer Columbian Chemicals in a deal that could close as early as next week. Negotiations are at the last stages with deal size expected to be around $900 million (Rs 4,100 crore). Aditya Birla Group is also in talks with several banks to tie up acquisition funds including Deutsche Bank, Royal Bank of Scotland and other foreign banks. JP Morgan is advisor to the deal. (Business Standard)

Renuka Ramnath's Multiples Gets $70M From Kuwait Govt. - Multiples Alternate Asset Management, a private equity (PE) fund founded by Renuka Ramnath, the former CEO of ICICI Venture, has received Rs 325 crore ($70 million) for its offshore fund from the Public Institution for Social Security, a pension fund run by the Government of Kuwait. With this fund, Multiples has achieved a corpus of more than $425 million. It is targeting a size of $450 million. In March, the government-run Canada Pension Plan Investment Board made an anchor investment of $100 million into the fund. (Business Standard) Ascent Capital Exits Koutons At Loss - Ascent Capital, one of the principal investors in the cloth seller Koutons Retail India Ltd,, has exited the firm at a loss and considers the investment a