July 2007
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Oberoi's mulls PE funds to fuel growth

Oberoi Hotels is fast expanding in India, Abu Dhabi, Maldives, Cambodia and Dubai, some through management contracts and some through its own equity worth about Rs 500 crore. With such expansion plans Oberoi's would need the extra cash. They have already hired Kotak Mahindra to help them raise Rs 400 crore via debt and fresh equity. But the company is also open to roping in a strategic financial investor like a private equity fund. […]

PE deals pip M&A in value

The total value of PE deals has exceeded that of mergers and acquisitions (M&As) in the month of June, according to global accountancy firm Grant Thornton’s Dealtracker report. The value of PE deals during the month went up by $0.25 billion to $1.81 billion from $1.56 billion in May 2007, that of M&A deals decreased by $2.65 billion to $1.72 billion from $4.37 billion in May 2007. There were 36 PE deals and 63 M&A deals during the period. The significant deals in the PE space included Avenue Capital group’s 26 per cent stake buy in SKIL Infrastructure for $500 million, Goldman Sachs $300 million investment in Century Group and BNP Paribas’s $180 million investment in SREI Infrastructure Finance for a 50 per cent stake. […]

Carlyle Group to focus on growth deals in India, China

Next month, 18-odd private equity (PE) professionals who make up Washington DC-headquartered Carlyle Group LLC’s Asia investment team will troop down to Kumarakom in Kerala for the firm’s annual brainstorming meet. This is the first time India will play host to the event and it underscores the importance the PE firm, which has $58.5 billion (Rs2.36 trillion) under management, attached to this market. India is one of the firm’s key markets for investments from its $680 million Asia Growth Partners III fund, which has done two deals since its launch in 2005—Claris Lifesciences Ltd and Elitecore Technologies Ltd, both based in Ahmedabad. The Asia growth fund invests primarily in four markets—China, India, Korea and Japan. […]