August 2008
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Anil Ambani eyes UK’s Newcastle United

Anil Ambani-led Reliance Communications is looking for a possible takeover of Premier League club Newcastle United for an estimated 260 million pounds, a media report said. “Newcastle United owner Mike Ashley is in talks with Anil Ambani, the sixth richest man in the world and head of Reliance Communications, India's biggest telecom company,” the News of the World reported on Sunday. Newcastle is in the midst of a massive 260-million-pound takeover battle between Asia's two richest companies Reliance Communications and Singapore-based global investment company Profitable Group, it said. […]

ADAG makes an entry into PE advisory biz

Industrialist Anil Ambani has quietly entered the fledgling Indian private equity space. His financial services arm Reliance Capital has launched a wholly-owned subsidiary Reliance Equity Advisors (REAL) to offer the entire bouquet of private equity services. Ramesh Venkat, group CFO of the Anil Dhirubhai Ambani Group (ADAG) has been given the additional responsibility of spearheading REAL. REAL has put in place a 15-member advisory team and received regulatory approval to build an initial corpus of $1 billion. Of this, ADAG will contribute 15-20 per cent while the balance will be mobilised by two linked funds, one based in Mauritius and the other in India. Mr Venkat told ET that REAL has started talking to investors to put together a $1billion fund. “The initial response has been very good. There is good investor appetite for our fund. We expect to close the fund in a few months,” he said. Mr Venkat is a director of REAL. Mr Venkat said the fund will focus on sunrise sectors such as services, logistics, realty and pharma. The ticket size of investment will be $15-100 million. […]

HDFC Property to buy into Nitesh Mall

HDFC Property Ventures is investing $20-25 million into South India's largest central business district (CBD) mall developed by Nitesh Estates in Bangalore. The move probably marks the $900-million HDFC Property Ventures' foray into retail infrastructure in a rather tight-market environment, sources said. HDFC Property Ventures will pick up around 20-25% stake in the 6-lakh sq ft Nitesh Mall, which is being designed by Seattle-based Callison. Nitesh Mall, which is the Bangalore-headquartered real estate firm's first retail play, is estimated to be a Rs 300 crore project. The Nitesh Mall will come up on a 5.5 acre patch near hotel Leela Palace, off the Indiranagar 100-ft road that is considered one of Bangalore's highstreet retail hubs, with most big brands operating their flagship stores there. When contacted Nitesh Estates' director, development, LS Vaidyanathan declined to comment on the deal. HDFC Property Ventures CEO KG Krishnamuthy could not be contacted immediately. […]