Daily News Roundup - Dec 8 2009

United Breweries Ltd (UBL) and Heineken NV ended an almost two-year-long dispute over partnership and agreed to permit UBL to brew and market the Heineken brand in India. (BS)

Private equity firms Apax Partners, Carlyle and KKR have shown interest in buying ICICI’s 27% stake in 3i Infotech. (ET)

OVL and Mittal may set up refinery in Nigeria as Indian companies look at sourcing liquefied natural gas (LNG) from African nations. (BS)

ONGC is interested in acquiring a stake in Ghana’s giant Jubilee oilfield, but the African nation has exercised its first right of refusal on the stake sale. (BS)

M&M plans to raise around Rs20bn long-term debt for its Chakan commercial vehicle project. (BL)

ABB Ltd has bagged an order worth Rs5bn from Bangalore Metro Rail Corporation Ltd for power related works. (FE)

RIL is in talks with banks for a US$8-10bn war chest for the acquisition of Lyondell Basell, the world’s third-largest petrochemical company. (ET)

Tata Steel standalone sales during November 2009 grew 35%yoy to 0.4mn tones. (FE)

Reliance Mediaworks has partnered with US-based In-Three for converting 2D films and videos into the 3D format. (ET)

Wockhardt has received permission to sell its nutrition division to US-based Abbott for nearly Rs6.5bn. (ET)

Suzlon Energy subsidiary REpower Systems, Germany, has signed a Rs8.6bn contract with enXco, a California-based renewable energy company for supplying 70 wind turbines. (BL)

Mahindra to roll out heavy truck in January 2010. (BS)

Opto Circuits is looking at a capex of around Rs2bn in the next one and half years for setting up manufacturing units in Vizag and Malaysia. (BS)

Essar Group is close to acquiring X-cite, a retail chain of consumer durables. (ET)

Cipla has received Income tax notices demanding around Rs201m, for allegedly over-pricing two drugs. (ET)

JSW Energy is expected to commission its 240MW Kutehr hydropower project in Himachal Pradesh by December 2015. (BS)

IOC expects revenue loss of Rs270-280bn for selling fuels below cost price by the end of their current financial year, in March 2010. (BS)

EdServ Softsystems is planning to raise US$25mn either through a GDR or an FCCB issue by the first quarter of FY10. (BS)

The government plans to expand the country’s National List of Essential Medicines (NLEM), which was last revised in 2003. (BS)

FDI investments for the month of October grew 56% yoy to US$2.3bn (FE)

Food price index was up 17.47% in the 12 months period ended November, 21. (FE)

The government has cleared 17 FDI proposals worth Rs45.5bn (FE)

The government will seek US$2bn of additional funds from the World Bank for highway development, road transport & highways (ET)

Petroleum ministry has sought oil bonds worth over Rs200bn for state-run oil marketing companies. (ET)