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Jain Irrigation buys 70% stake in Thomas Machines

Jain Irrigation Systems Limited (JISL) has acquired 69.75% stake in Switzerland-based Thomas Machines S.A., with full management and operational control. Thomas Machines is engaged in manufacturing of specialist machines and equipment including latest generation high technology drip irrigation lines, quality control and test equipment, automation equipment, laser machine centers and laser products and has been a supplier to JISL for over three years. The acquisition will help the Company and its subsidiaries all over the world to further invest in the field of irrigation to build its capacities and increase speed to market for new generation drip lines. JISL engages in the manufacture and sale of irrigation systems, polyethylene pipes, and plastic sheets primarily in India. The company will also have the call option on purchasing the remaining 30.25 percent of the shares of Thomas Engines. [...]

Bahrain firm acquires 49 pc stake in India IT park

A Bahraini real estate firm has acquired 49 per cent stake in an information technology park in Noida at a cost of USD 69 million. Acacia Real Estate, a company spearheaded by Bahrain-based TAIB Bank, has acquired 49 per cent of Logix TechnoPark located in Noida. “We are proud to be able to offer our clients this unique opportunity to invest in India's real estate market,” said Acacia executive committee board member and TAIB Bank chief executive and vice-chairman Iqbal Mamdani. With a projected internal rate of return of over 24 per cent per annum, the deal was structured to provide investors with downside protection and an average cash coupon of 8 per cent per annum over a three-year holding period, he said. [...]