January 2010
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India Equity Partners to buy 25% in IETS for Rs 140 crore

New York-based India Equity Partners is set to acquire a 25% stake in IL&FS Education and Technology Services (IETS) for little over Rs 140 crore. IETS is an education and cluster development initiative of Infrastructure Leasing & Financial Service (IL&FS). Two officials, involved in the deal, said on the condition of anonymity, the private equity firm would pick up nearly 20% in secondary sale by the three existing partners and 5% will be acquired through fresh issue of shares by IETS. Orix Corporation of Japan, HDFC and Sera Fund are divesting their entire stake in favour of India Equity Partners, said a senior executive. […]

January 25th, 2010

Jet to buy upto 26% stake in MAS GMR Aerospace

Jet Airways (India) today announced that its board has approved an investment of up to 26% (partly for cash and partly for consideration other than cash) in the share capital of MAS GMR Aerospace Engineering Company, Hyderabad, subject to receipt of all statutory and regulatory approvals, as may be required. MAS GMR Aerospace Engineering is a 50:50 joint venture (JV) between Malaysian Aerospace Engineering, Malaysia, and GMR Hyderabad International Airport, set up to undertake airframe maintenance, repair and overhaul activities. […]

January 25th, 2010

IANS$100 mn Oman India investment fund to be launched soon

A $100 million Oman India fund that will invest in various sectors in both countries is expected to be launched shortly. Oman is looking forward to invest in India's small and medium enterprises. 'The joint investment fund whose corpus will be contributed equally by both countries will be launched soon,' Oman's Minister of Commerce and Industry Maqbool Ali Sultan told IANS while he was here for a trade summit organised by the Confederation of Indian Industry. In November 2008, India's largest commercial bank State Bank of India (SBI) and Oman's State General Reserve Fund (SFRF) signed a memorandum of understanding (MoU) to promote a joint investment fund with a $100 million corpus to be contributed equally. […]

January 25th, 2010