Mauritius-based firm buys 18 per cent equity in Amar Ujala

New Delhi, June 12 (UNI) Continuing with the trend of foreign direct investment in the country's media industry, a Mauritius-based company has picked up 18 per cent equity in the Hindi daily 'Amar Ujala'.

The proposal of D E Shaw Composite Investment (Mauritius) to purchase fresh shares of Amar Ujala Publications for over Rs 87 lakh is one of the 17 proposals of FDIs totalling Rs 122.30 crore in Indian companies that have been approved by Foreign Investment Promotion Board (FIPB).

FIPB has also given the green signal for Rs 4.12 crore FDI in Mumbai-based courier company, First Flight Couriers and permitted Australia's Carlson Hotels Asia Pacific Pvt Ltd to invest Rs 2.6 crore in a joint venture (JV) company building a hotel in Noida.

Carlson Hotels have been allowed to buy up to 26 per cent equity in the JV in which Unitech, Lavenders and Colossal Builders are partners.

The Board has also given its nod to Mauritius-based realty company Starlight Real Estate (Ascot) to set up a wholly-owned holding company in India with an equity base of Rs 42 crore to invest in various construction projects, including hotels, hospitals, industrial parks and special economic zones (SEZs), an official statement said today.

Significantly, Pune-based B F Ultilities has been allowed to engage a foreign partner in a JV to manufacture defence equipments.

Singapore Technolgies Kinetics Ltd has been permitted to purchase 26 per cent equity for Rs 6.5 crore in the Pune's company.

Another significant investment of Rs 35 crore has been permitted in Kolkata-based Amalgamatged Plantation which is in the business of tea plantations, horticulture, pisciculture, floriculture and cultivation of vegetables.

Acquisition of a Pune-based company engaged in the manufacture of tower cranes by a Singapore-based company too has been approved by the FIPB for Rs 99 lakh, it added.

UNI