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M&M, I-Venture team buys Italian gear maker Metalcastello

A consortium of Mahindra & Mahindra (M&M) and ICICI Venture Funds on Tuesday signed a definitive agreement to acquire 100% stake in Italian gear maker Metalcastello. Company officials refused to divulge details of the deal. The acquisition is part of M&M’s larger strategy to consolidate its gear business in the European market. ET first reported the deal on November 6, 2007. There were four other bidders, including a couple of European funds and an Indian industrial house along with a private equity player. The promoters of the Bologna-based Metalcastello had approached all the bidders to hike their respective quotes, which ranged between e80 million and e100 million. [...]

Dewan Housing holds placement, studies PE option

Dewan Housing Finance Corporation Ltd, (DHFL) has held plans to raise around Rs 240 crore through qualified institutional placements (QIP) and preference shares. Instead, the company may take the private equity route. Keeping in mind the current market volatility, it may evaluate raising a smaller amount, of around Rs 150-200 crore. “We have deferred our plans of QIP given the overall market situation at present,” Kapil Wadhawan, vice-chairman and managing director, DHFL, told DNA Money. “The company is currently in the process of evaluating other options, which could be a private equity route. The PE route offers stability and by nature a PE investor remains with a company over a 5-7 year time frame” he added. [...]

Darby Overseas picks up stake in Coffee Day

Private equity arm of Franklin Templeton Investments Darby Overseas Investments has picked up an undisclosed stake in coffee chain Cafe Coffee Day for $25 million. Darby's Asia Mezzanine Fund II has invested USD 25 million in Bangalore-based Amalgamated Bean Coffee Trading Company Ltd (ABCTC), the owners of Coffee Day, the company said in a statement without disclosing further transaction details. This is Darby's third investment in India in the last 12 months, it added. Coffee Day is one of the largest integrated coffee players in India, with operations across the coffee value chain, from procurement and processing to retailing. It owns and operates coffee cafes in India under the brand “Cafe Coffee Day”. [...]

Balsara buys 51% in MediaCom

Sam Balsara, principal shareholder of Madison World Companies, has acquired 51% stake in MediaCom India Private Ltd, a WPP-owned media agency in India. With the majority stake, Balsara will be chairman of the company whereas Divya Gururaj will continue as managing director of MediaCom. The company will report to Balsara and GroupM will not be involved in managing the company, according to a statement from Madison Media. Meanwhile, Procter & Gamble India (P&G) has awarded its media buying and planning account to Madison MediaCom Combine effective from July 1 this year. Announcing the deal, a spokesperson from P&G said, “In November 2007, as part of standard corporate requirement to ensure that the best agency resources are working on the business, P&G India undertook a review of its media agencies. We are happy to share that based on the results of the evaluation. We have awarded our media account to Madison Mediacom Combine.” P&G India’s media business is estimated to be around Rs 200 crore. [...]

UAE`s Etisalat may pick up stake in Spice

UAE’s telecom giant Emirates Telecommunications Corp (Etisalat) is in talks with Telekom Malaysia (TM) backed Spice Communications and other new licence holders for a possible foray into the Indian mobile space. Etisalat is the largest telecom operator in the UAE and provides telecommunications services in 14 countries in Africa, Asia and Africa including Pakistan, Egypt and Saudi Arabia. [...]

Mindteck buys 3 firms for $9.6 mn

Bangalore-based IT services firm Mindteck has announced acquisitions of three companies for $9.6 million (around Rs 38.4 crore). It completed the acquisition of the US-based Primetech Solutions, an IT consulting company. It also acquired two of its associate companies – Mindteck UK and Mindteck Singapore. These acquisitions will expand Mindteck’s operation in the US, Europe and Asia-Pacific as part of its ‘Go Global’ strategy. Mindteck has raised $7.47 million (around Rs 31 crore) through private equity for implementation of the strategy. The new investments are being used to fund current acquisitions, repay debt and for future growth. [...]

Gateway Rail Freight to raise Rs 330 crore from PE investors

Gateway Rail Freight, a subsidiary of Mumbai-based Gateway Distriparks, is in the processs of raising around Rs 330 crore from private equity investors. PE firms like The Blackstone Group, India Value Fund, New Silk Route and Temasek Holdings are said to be in the fray to pick up equity stake. Gateway Distriparks closed at Rs 98.05 on the BSE. (ET) [...]