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Taxman spoils Indian M&A party

Corporate guarantees given for 2007-08 deals facing high taxes now; industry presses for change in rules. Three years after the great Indian deals party of 2007-08 got over, the taxman is playing the party pooper. Indian companies that purchased assets abroad are facing an up to 10 per cent increase in deal costs due to transfer pricing adjustments raised by the income tax department. The department is raising these adjustments on commission or fees chargeable for corporate guarantees given by […]

Hedge fund, private equity rules soon

The Securities and Exchange Board of India (SEBI) hopes to finalise regulations for alternative investments in the next two months, UK Sinha, chairman of the capital market regulator, said on Tuesday. SEBI had put up a concept paper for regulation of alternative investment funds, or AIFs, on its website in August. AIFs have been classified into nine categories, including a category for private equity funds. Any fund operating as a hedge fund shall be required to be registered as ‘strategy […]

Vivimed Labs Acquires Pharma Firm Uquifa

Vivimed Labs Ltd. Thursday said it acquired Uquifa, a maker of active pharmaceutical ingredients and intermediates with operations in Spain and Mexico. Vivimed, a maker of pharmaceutical formulations, didn’t give financial details of the deal, but said the move is aimed at expanding its footprint in Europe and the Americas. Uquifa is the pharmaceutical division of U.K.-based Yule Catto PLC and operates two manufacturing sites in Spain and one in Mexico, its website showed. Uquifa will become the active pharmaceutical […]

PE firms in talks with Trivitron Healthcare to pick 10-12% stake

Private equity (PE) firms are said to be in talks with medical device and technology provider Trivitron Healthcare to pick up a 10-12% stake in the company. According to sources, Bain Capital, TPG and TA Associates are interested to buy the stake in the unlisted Trivitron. The company is likely to sell the stake for Rs 150 to Rs 200 crore, the sources said. In response to an ET query, a company spokesperson said, “Trivitron group of companies as a […]

Bank of India to buy 51 pct stake in Bharti AXA Investment Managers

State-run Bank of India said late on Saturday it would acquire a 51 percent stake in Bharti AXA Investment Managers Pvt Ltd, an asset management company to Bharti AXA Mutual Fund. Bharti AXA Mutual Fund is a joint venture between Bharti Enterprises and AXA Investment Managers, the bank said in a statement. The remaining stake will be held by France’s AXA Group , it added. Financial terms of the transaction, which was advised by Ernst & Young, were not disclosed. […]

Piramal, IDFC arm, SNC-Lavalin to commit upto $300 mln in India infra

Ashok Piramal Group, IDFC Project Equity Fund and Canada’s SNC-Lavalin Group Inc will commit $250 million-$300 million in equity in a combined fund over the next 3-5 years, a Piramal Group official said on Tuesday. Earlier, the three firms had agreed to jointly develop road and highway projects in a public-private partnership. The group plans to eventually list the partnership, Rajeev Piramal, vice-chairman of the Ashok Piramal Group, told reporters Source: Reuters