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Avesthagen, Limagrain pick stakes in Indian cos

Leading biotech company Avesthagen and French plant breeding major Groupe Limagrain on Wednesday said they have jointly acquired majority stakes in two Indian seed companies. The two partners said that they will hold majority stake in Hyderabad-based integrated field crop seeds company Swaghat Seeds Pvt Ltd and Bangalore-based vegetable seeds company Cee Kay Seeds and Seedlings Pvt Ltd. […]

ICICI Venture puts ACE on block

Two years after ICICI Ventures acquired ACE Refractories (formerly known as ACC Refractories), in what was the largest leveraged buyout by a private equity fund in India during that time, it is understood that the fund has now put the company on the block. A source told TOI that two international funds and two global players in refractories have shown interest in ACE Refractories. It is learnt international biggies Goldman Sachs, Carlyle, RHI and Calderys have offered to buy the company as rapid growth in the domestic market continues to lure foreign firms. […]

PE flow down 50% on pass through curbs

The government’s decision to restrict the number of sectors for which domestic private equity funds can claim pass through status for tax purposes has begun to impact PE deal flow. In April, the first month in which the new norms … […]

FINO eyes $20m in private equity

The ICICI Group-incubated Financial Information Network Operation (FINO) is about to close its first round of fundraising, worth about $20 million, by the end of month. Besides International Finance Corp (IFC), the private-equity arm of World Bank, a clutch of … […]

Franklin buys Indian fund ventures for $89.7 mln

Money manager Franklin Resources said on Wednesday it paid $89.7 million in cash to buy the 25 percent interest in two Indian joint ventures that it did not own.

Franklin said in a filing it bought out the Indian joint ventures … […]