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India Equity invests $18m in Ocean Sparkle

India Equity Partners (IEP), $300-million private equity fund has picked up a minority stake in Ocean Sparkle, an unlisted Hyderabad-based port management company for $18 million. Sources said that IEP has bought this stake at a valuation of $100 million … […]

Godrej realty arm in talks to raise Rs 200 cr

Godrej Properties, the real estate arm of the Rs 7,500-crore Godrej group, is learnt to be in talks with private equity investors to raise Rs 200 crore for its two realty projects in Hyderabad and Kolkata. The company is looking … […]

Metered call taxi service in Mumbai in association with India Value Fund

V-Link, a fleet management company, has launched 'Meru', a metered call taxi service in Mumbai in association with India Value Fund, a Private Equity fund. The Company has launched 150 taxis in Mumbai and will increase the number to 1,000 by December 2007. […]

AB Foods buys $79 mn Indian food brand Patak’s

Associated British Foods said the acquired business comprises the Patak’s brand and assets in all countries except India. Associated British Foods Plc said on 29 May it had agreed to buy Indian cuisine brand Patak’s, with assets worth 40 million pounds ($79 million,Rs319 crore), from the founding Pathak family. […]

Constr & realty sector attract foreign, domestic funds

Construction and realty sector is becoming one of the hottest sectors around with private equity players and FIIs betting on it highly as there is an infrastructure boom in the country. The recent news is that De Shaw, leading US hedge fund with over USD 30 billion in assets, has invested USD 400 million in a DLF group firm that will set up SEZ across the country. Associated Chambers of Commerce and Industry of India, ASSOCHAM, estimates that domestic construction enterprise is poised to grow at 15% per annum from about 10% now to touch USD 120 billion by 2012 from its current size of over USD 70 billion. […]

Temptation Foods buys Gourmet Kitchen

Temptation Foods, a Mumbai-based fruit and vegetables export company, has acquired 100 per cent stake in Karen’s Gourmet Kitchen (KGK), a foods brand managed by leading food critic, Karen Anand. Last month, Temptation Foods had picked up 26 per cent stake in KGK, which manufactures and markets sauces, jams and salad dressings. […]

Carlyle & AT eye RCOM tower biz stake

US private equity giant Carlyle and American Towers have formed a partnership to buy and own cellphone tower assets in the country, a person familiar with the situation said. The duo may also bid for buying a minority stake in … […]

StanChart to acquire 49 per cent in UTI securities for Rs140 crore

Standard Chartered Plc. is in final talks to buy a 49 per cent stake in Indian brokerage UTI Securities, a deal that would help the banking conglomerate expand its wealth management services for customers in India, the Financial Times reported. The transaction, expected to cost Rs140 crore ($35 million), marks Standard Chartered's return to retail stock broking in Asia after more than a decade, the report said. […]

FINO announces closing of equity placement

Financial Information Network and Operations Ltd. (FINO), a Mumbai-based biometric enabled smart card solutions provider which is engaged primarily in providing financial and non-financial products and services to the unbanked masses nationally and internationally, today announced the closing of an equity financing round of Rs. 800 million. The investors are broadly divided between private sector banks, public sector banks and international investors. Private sector equity investors include ICIC Bank, ICICI Lombard and IFMR Trust. Public Sector equity investors include LIC, Union Bank of India, Corporation Bank and Indian Bank. International investors are represented by IFC, a private sector arm of the World Bank Group, Legatum Finance, and Intel Capital, the strategic investment arm of Intel Corporation. FINO intends to use the proceeds from the financing to set up the entire end-to-end solution of doing financial transaction at clients’ doorsteps. […]

Israel Corp., DS Constructions buy energy co for $568m

Globeleq Americas owns energy companies in Central and South America and the Caribbean. Israel Corp and its partner, DS Constructions Ltd. of India, have fully acquired Globeleq Americas Ltd. from Bermuda-registered Globeleq International Ltd. for $568 million. Israel Corp. and DS Constructions set up a joint venture, which they own in equal shares, for participation in the international tender. “Globes” was the first to report that Globeleq was the subject of the tender.

Israel Corp. said that Globeleq Americas […]