June 2007
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Asia M&A activity soars 50%

Asia Pacific mergers and acquisitions (M&As), excluding Japan, surged 50% in the first half of 2007 to a record $253 billion (Rs10.37 trillion), with Australian buyout deals and an overseas push by Indian firms expected to keep activity at high levels. Australia accounted for $76 billion worth of deals in the half, followed by China ($55 billion) and India ($39 billion), according to preliminary data from Dealogic. “This year has been characterized by a good spread of volumes. India’s been very strong and success has begotten success,” said Matthew Hanning, head of Asia Pacific M&A at UBS Investment Bank. […]

Infosys may bid for Capgemini: Report

Infosys Technologies, India`s second-largest software maker, plans to bid for Paris-based European consulting company Capgemini, a newspaper reported, citing unnamed industry sources. The Bangalore-based company will use cash reserves amounting to 62 billion rupees (1.5 billion dollars) to fund the bid, the newspaper said in a front-page report. Infoysys officials were not immediately available to comment on the report. The Times of India said an Infosys spokesperson declined to comment. […]

TCS close to acquiring 2 firms in Latin America for Rs 200 cr

The $4.3 billion Indian IT services provider, Tata Consulting Service (TCS), is close to acquiring two IT firms in Latin America. The estimated value of these two firms is around Rs 200 crore. TCS, with a considerable presence in Latin America, has completed due diligence of the targeted companies. Sources close to the development said that TCS was looking at one business process outsourcing (BPO) company and an IT services company. […]

IL&FS to wrap up $400 mn PE fund

IL&FS Investment Managers Limited (IIML), the publicly listed private equity arm of IL&FS, is set to close its $400 million fund by October 2007. It will have its first closure of $150 million by July-end and the remaining would be wrapped up by October. This is IIML’s sixth fund and will be its largest fund after the $525 million real estate fund launched in 2006. With this $400 million fund, IIML is more than doubling its fund size from the earlier $153 million Leverage India Fund. […]

RTS Power to sell 14.5% stake to strategic partner

CNBC-TV18 has learnt that domestic electric equipment maker RTS Power is likely to sell 14.5% stake to a strategic partner. A couple of leading power equipment companies are in the race to acquire stake, sources said. The company may issue preferential shares to strategic investors. Companies like Kalpataru Power and ABB are the likely contenders. It was also in talks with L&T at some point of time. RTS Power was looking for a strategic partner to bring in a lot of business. […]

Japan’s Orix to pick 5% in IL&FS arm for Rs 36 crore

Japanese financial services giant Orix is picking up a 5% stake in IL&FS Securities Services (ISSL) for Rs 36 crore. The stake purchase by the $8-billion Japanese company puts the enterprise value of ISSL at Rs 720 crore. ISSL was initially set up as a captive division within IL&FS to provide back office services. It was hived off as a separate wholly owned arm of IL&FS last year. […]

Jet looking out for PE investors for JetLite

Jet Airways, planning to launch the JetLite brand from mid-July 2007, is scouting for new investors, reports NDTV. Jet Airways after acquiring Air Sahara converted the airliner into a low-cost carrier under the brand JetLite. It is said that Temasek, Istithmar and TPG are the front runners to bag the deal. Jet may be willing to divest up to 25% stake in the airline and needs more than Rs 2 billion to revive the airline. […]

Global Infrastructure Partners To Buy 25% Stake In Chennai Container Terminal

AM Global Infrastructure Partners, a private equity firm, said it agreed to buy a 25% stake in Chennai Container Terminal Private Limited, through its International Port Holdings portfolio company. The financial terms of the transaction were not disclosed. Chennai Container Terminal, located within Chennai Port on the South East Coast of India, serves the trade route between Europe and the Far East. Dubai Ports World owns the remaining 75% stake in the terminal. […]

PE funds make a beeline for niche segments

Niche segments such as clinical research, online gaming, third-party logistics, mobile handset design and online bill paying firms are increasingly attracting the attention of private equity (PE) and venture capital funds (VCFs) as they view these businesses as sure-shot winners of tomorrow. Clearstone Venture Partners, which has a fund size of $200 million dedicated to high-growth companies in India and the US, has made investments in domestic companies. Its niche plays include Games2Win, an online gaming company, Billdesk.com, an electronic bill-paying company and DGB Microsystems, a mobile handset design company. […]

Shekhar Kapur plans to raise $500 million fund in Singapore

Shekhar Kapur, the director of Oscar-nominated film Elizabeth, is in talks to raise a $500 million fund in Singapore to invest in the entertainment industry, including movies and music across Asia, according to Bloomberg. In an interview given to Bloomberg, Kapur said that the Investors in Singapore were more willing to bet on businesses that might take a longer period of time to make a profit, unlike hedge funds or private equity firms. […]