November 2012
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Diageo to Buy Stake in United Spirits for $2 Billion

Drinks giant Diageo Plc has agreed to buy up to 53.4% stake in United Spirits Ltd (USL) for $2 billion (over Rs 11,000 crore) in a deal combining the world’s most valued liquor company with the largest volume player.

This one swig makes Diageo the new master of India’s booming liquor market with more than 50% share. India, one of the fastest growing geographies for alcoholic beverages, also becomes Diageo’s second largest market after the US.

The British behemoth, however, […]

India’s Gulf Oil buys U.S. chemicals company for $1 billion

Indian lubricants maker Gulf Oil Corp said on Tuesday it has acquired U.S.-based specialty chemicals company Houghton International HGINL.UL from a private equity fund for $1.05 billion. Gulf Oil, part of the diversified Hinduja Group, said Houghton’s strong presence in the industrial segment would complement its own range of automotive lubricants, and expected synergies in manufacturing, sourcing and distribution. Houghton sells metal working fluids across North America and Europe and operates 12 plants globally. It reported an operating profit of […]

DUSA to be bought by Indian pharma in $230M deal

DUSA Pharmaceuticals (Nasdaq: DUSA), an 86-person life sciences firm focused on dermatology, has agreed to be acquired by Mumbai, India-based Sun Pharmaceutical Industries Ltd. and DUSA Pharmaceuticals Inc. for $230 million. The price of $8 per share in cash is a 38 percent premium on DUSA’s closing share price Wednesday, Nov. 7.

Under the terms of the agreement, a subsidiary of Sun Pharmaceutical will commence a tender offer for all of the outstanding common stock of Wilmington, Mass-based DUSA after […]

Morgan Stanley selling its Indian private bank

Morgan Stanley has launched the sale of its India private wealth management unit, which manages about $1 billion including loans, after entering the highly fragmented and competitive market just four years ago, sources with knowledge of the matter said. Wealth management platforms are usually sold for about 2 to 3 percent of the assets under management, although the sources said it was not yet clear what price tag the unit could fetch. Morgan Stanley has launched a strategic review of […]

Info Edge India invests Rs.5 crore in

Info Edge (India) Ltd has invested an amount of Rs. 50 million (Rs. Fifty million) through optionally convertible cumulative redeemable preference shares in Happily Unmarried Marketing Private Limited for about 25% of the Company, on a fully diluted and converted basis.

The Company is engaged in the business of designing & selling fun products through offline stores and will also now be expanding its online business through its website Source: Equity Bulls

PE firm NSR likely to buy India rights of Nando’s

Food connoisseurs aren’t likely to forget the taste of flame-grilled peri-peri chicken in a hurry. But Nando’s, a South African restaurant chain of Portuguese theme, will see its India rights acquired by a new owner shortly, said people familiar with the matter. Private equity firm New Silk Route (NSR) is likely to acquire 74% stake in Nandos Indage Restaurants, a group company of the pioneering wine maker Shamrao Chougule family, which controls the financially troubled Indage Vintners. The $1.4-billion NSR […]

Standard Chartered PE to invest $35 mln in India’s Prime Focus

Private equity arm of Standard Chartered Plc will invest $35 million in Indian visual entertainment services group Prime Focus Ltd at a maximum price of 53 rupees per share, the Indian firm said. In addition, the company will issue warrants to the promoter Namit Malhotra, representing a right to subscribe to equity shares, for an aggregate amount of 1.04 billion rupees ($19.57 million) on preferential basis. These warrants are convertible into equity shares at a maximum price of 53 rupees […]

Catwalk may sell 26% stake to IVFA

Mumbai-headquartered women’s footwear brand Catwalk Worldwide is in advance talks with private equity fund India Value Fund Advisors (IVFA) to sell around 26 per cent stake for $18 million (around Rs 100 crores). The plan is to utilise the raised equity for retail expansion by setting up standalone stores and few acquisitions for backward integration.

Founded in 1990, Catwalk has 40 stand-alone stores and around 250 shop-in-shops in India. Also, it is in talks with Sri Lankan retailer Odel and […]

Auto component maker Anand acquires stake in Mando Steering Systems

Auto component maker Anand today said it has acquired a stake in Mando Steering Systems India for an undisclosed amount. “Anand, India, has recently entered into a joint venture partnership with Mando Corporation, Korea, having acquired a stake in Mando Steering Systems India on October 29, 2012,” the domestic firm said in a statement. The company, however, did not share any detail such as the stake acquired, the valuation and the equity holdings of the two firms in the JV. […]

Business biggies in race for Mumbai chain Moshe’s

Wealthy businessmen and private equity biggies have queued up to buy Moshe’s, one of Mumbai’s well-known bistros built over the past decade. Anjan Chatterjee of Mainland China, New Silk Route and Bangalore-based hotelier Prakash Shetty are in the reckoning to acquire majority ownership from the 43-year-old Jewish owner, Moshe Shek, who runs a chain of around ten cafes and restaurants.

Shek, who earlier worked in the kitchens of the Taj Mahal hotel in Mumbai and Tel Aviv Hilton, is considering […]