November 2023
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Heineken takes 3.2 percent stake in United Breweries

Heineken NV’s UK unit has acquired a 3.21 percent stake in India’s United Breweries Ltd the Indian alcohol company said on Wednesday, sending its shares up by more than 6 percent. United Breweries, controlled by liquor baron Vijay Mallya, said in a stock exchange filing that Heineken UK Ltd had been allotted the stake formerly held by Scottish & Newcastle India Private Ltd, controlled by Heineken. Source: Reuters

TPG Sells Stake in India’s Shriram Transport for $300 Mln

U.S. private equity firm TPG Capital raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to India’s Piramal Group, generating a near seven times return on a 2006 investment. Piramal Enterprises said it bought a 10 percent stake in Shriram Transport through a block deal for about 16.52 billion Indian rupees ($305.21 million), or 723 per share. Ajay Piramal, chairman of Piramal Enterprises, told reporters the stake was […]

Jet-Etihad Deal: Good news for aviation and for economy

The infusion of $379 million by Abu Dhabi-based Etihad Airways in Jet Airways, India’s largest private airline , is good news on multiple counts. The proposed deal is a tangible benefit of the government’s policy reform announced last September easing ownership rules to allow foreign carriers to own up to 49% in local airlines. It signals an overall improvement in the country’s investment climate. The present tie-up comes in the wake of a joint venture between Air Asia and the […]

Qatar extends buying spree to India with $1.3 billion Bharti deal

Gulf state Qatar has bought a 5 percent stake in Indian telecoms firm Bharti Airtel Ltd for $1.26 billion, the firm said on Friday, extending an overseas buying spree from mainly developed countries to Asia’s third-largest economy. The deal is being channeled through Qatar Foundation Endowment and a source close to QFE said it would be an active investor in Bharti Airtel, securing a board seat at the world’s fourth-biggest mobile phone company by customers. “QFE is in for the […]

Parag Milk to raise $17 million from IFC

IDFC and Motilal Oswal backed Parag Milk Foods Private Limited to raise $17 million from International Finance Corporation (IFC) for its proposed $32.7 million investment. It may be noted, end of last year the company raised $13.9 million from IDFC to support investment, which includes plant for value added products and automation in the existing plants. At present the company has plants in two states Maharastra and Andhra Pradesh.

Parag Milk Foods (Parag), established in 1992, is one of India’s […]

Petronet to take 26% stake in LNG shipping venture

Petronet LNG Ltd, India’s biggest importer of liquefied natural gas, will take 26% stake in a shipping venture planned to haul gas to its new terminal at Kochi in Kerala.

Petronet, which is building a 5 million tonne per annum capacity LNG import facility at Kochi, wants a 216,000 cubic meters capacity ship to haul liquid gas (LNG) from Gorgon, Australia. The vessel will be owned and operated by a shipping consortium, in which Petronet will pick up 26% stake.


Batelco said to be close to $1.1bn Indian deal

Reliance Communications will reportedly sell as 80 percent stake in its subsidiary Reliance Globalcom to a consortium led by Bahrain Telecommunications Company (Batelco). The Anil Ambani-owned company is close to a deal worth $1.1bn as part of a series of deals that the Reliance Group proposes to deal over the next couple of months, Times of India reported on Monday. Reliance Communications, India’s No.3 mobile phone carrier by customers, had net debt of about $6.9bn as of December, or more […]

TVS Cap to sell Papa John’s Pizza India operation

American private equity company KohlbergKravis Roberts (KKR) will purchase a 90 per cent stake in specialisedtyre maker Alliance Tire Group from rival PE fund WarburgPincus and owner Yogesh Kumar Mahansaria for an enterprise value of about $650 million, including a debt of $125 million, according to two people familiar with the transaction.

“The deal is likely to be announced this week as all the three sides have agreed on the financial terms and have more or less completed the […]

StanChart in talks to buy Morgan Stanley India wealth unit

Standard Chartered is in talks to buy Morgan Stanley’s Indian private wealth management unit, which manages about $1 billion including loans, two sources with direct knowledge of the situation said on Wednesday.

A couple of Indian financial services companies have also shown interest in buying the wealth management business, and a formal bidding process is expected to start soon, one of the sources told Reuters. The source did not name the companies.

Both the sources declined to be named as […]

Pipavav Defence offers 26% stake sale

Pipavav Defence & Offshore Engineering Company, the country’s largest defence ship building company in the private sector, founded by Nikhil Gandhi, has offered to sell 26 per cent of its equity. A group of corporate majors is interested. The talks are in an advanced stage and Pipavav’s board would soon meet to decide on the buyer, based on the offers received, a source involved with the negotiations said. The promoters were seeking close to Rs 8,400 crore, or Rs 120 […]