2. Vedanta seals $6 bn financing for
Cairn India deal
India-focused mining group Vedanta Resources Plc
agreed a $6 billion financing deal with a consortium of
banks to help fund its proposed acquisition of a
majority stake in the Indian unit of Cairn Energy.
The bank consortium comprises Barclays Capital, Citi,
Credit Suisse, Goldman Sachs, J.P. Morgan, Morgan
Stanley, Royal Bank of Scotland and Standard
Chartered.
General syndication will be launched shortly. Vedanta
announced a deal in August to buy a stake of 51-60
percent in Cairn India for $8.5 billion to $9.6 billion.
3. US, India to strengthen education
ties
Barack Obama’s recent visit to India has signaled a strong
commitment to build ties between the higher- education
institutes of both the countries. Funded by the US Department
of Education’s Fund for the Improvement of Postsecondary
Education, a delegation comprising 10 universities and colleges
from the US is currently touring India to explore partnerships in
higher education.
The delegation represented by institutions such as the
California State University, University of South Carolina,
Winston Salem State University, College of William and Mary
and others, is meeting with the heads of several Indian colleges
and universities in Delhi, Mumbai and Bangalore.
4. India Inc's M&A deal tally
touches $42.76 bn: Thornton
India Inc's shopping spree for October remained
unabated with 46 merger and acquisition transactions
(M&A)
It was worth over $530 million taking place during the
period and the year-to-date deal touching a whopping
$42.76 billion in value terms.
So far this year corporate India has announced 546
M&A deals worth $42,759 million -- the highest in the
last two years both in terms of value as well as number
of deals.
5. Free trade pact to boost India-
Canada trade
The talks between India and Canada for a FTA, major Indo-
Canadian bodies will boost bilateral trade and investment ties
between them but also people-to-people contacts
The key sectors of mutual importance such as mining, energy,
infrastructure, power, agriculture, textiles and financial services
should benefit from the conclusion of the FTA.
Canada India Foundation urges both countries to implement
appropriate changes to eliminate tariffs, quotas and subsidies
within these strategically important sectors, which will support
greater bilateral flow of goods and services.
