Goldman to buy 9.4% in Max India for $116 mn: Report

Goldman Sachs will pick up a 9.4% stake in Max India for Rs 5.4 billion (USD 116 million), the Economic Times and Business Standard newspapers reported on Sunday, citing the outcome of a board meeting held on Saturday.

Max India will issue compulsory convertible debentures that will be converted to shares after 15 months. The proceeds will be used to fund the company's existing insurance and healthcare businesses, the newspapers said.

Shibu Soren to take oath on December 30

RANCHI, Dec 27: Jharkhand Mukti Morcha (JMM) chief Shibu Soren will be sworn in as Chief Minister on December 30 at the Marabadi grounds here. Soren met Governor K Sankarnarayanan on Sunday afternoon and expressed his desire to take the oath on December 30 and the Governor accepted his request.

“Now Soren will be Chief Minister and I appeal to the people to remain awake,” Soren told reporters after the meeting.

Earlier, the Governor asked President Pratibha Patil to revoke President’s rule in the State to allow a new government to be formed, Raj Bhavan sources said on Sunday. The Governor sent a report to the President on the political situation in Jharkhand after the November 25-December 18 Assembly elections, a source in the Governor’s house told IANS.

Soren on Saturday staked claim to forming the government with a list of 45 legislators supporting him in the 81-member House. He is being supported by the Bharatiya Janata Party (BJP), All Jharkhand Students’ Union (AJSU), Janata Dal-United (JD-U) and two independents.