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Business Briefs

Riddhi buys HLL unit

New Delhi, Aug. 8: Hindustan Lever Ltd has sold its bio-polymer unit at Pondicherry to Riddhi Siddhi Gluco Biols Ltd, manufacturers of liquid glucose, maize starch and other corn-based ingredients. The move is in line with Lever's policy of exiting non-core businesses. The Rs 200-crore Riddhi Siddhi said it has acquired the unit, which manufactures tapioca and corn-based speciality modified starches for the paper industry.

Nimbus stake

London, Aug. 8: The 3i group, Europe's biggest publicly-traded buyout firm, has picked up a stake in Nimbus Communications for $45 million. This is the European firm's first investment in an Indian company.

BEML offer

Mumbai, Aug. 8: Bharat Earth Movers Ltd (BEML) is planning to raise around Rs 300-350 crore by selling 70 lakh shares in a public issue likely to be launched next month.

Star Alliance

Sydney, Aug. 8: Star Alliance is talking to Air-India, Jet Airways and Sahara Airlines for joining the world's largest group of airlines. By joining Star Alliance, a carrier will get access to more than 15,000 connecting flights a day run by other carriers.

Adlabs Films

New Delhi, Aug. 8: Adlabs Films Ltd will raise over Rs 259.29 crore through a preferential allotment of 1.10 crore shares and 38 lakh warrants, the company has informed the BSE.


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