Bank of India has signed the acquisition deed for acquiring 76% stake in PT Bank Swadesi, Indonesia. […]
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Bank of India has signed the acquisition deed for acquiring 76% stake in PT Bank Swadesi, Indonesia. […] US-based scientific instruments maker PerkinElmer has acquired the 49% stake held by its Indian joint venture partner Labindia Instruments in PerkinElmer India for an undisclosed amount. The 51:49 joint venture was formed three years back and is believed to be clocking revenues of more than Rs 100 crore. PerkinElmer is engaged in the area of designing, manufacturing, marketing and servicing products and systems for life and analytical sciences and optoelectronics. […] Two mega deals brewing on Dalal St promise to set mind-boggling benchmarks on how much a broking house can possibly pay to attract equity research and investment banking talent in India. Japanese financial services powerhouse Nomura Holdings is close to acquiring Enam Financial Consultants, one of India’s leading institutional broking and investment banking firms with revenues of around Rs 1,500 crore. […] India on Thursday facilitated steel baron L N Mittal's foray into oil refining by allowing him to pick 49 per cent stake in Hindustan Petroleum Corp's Bhatinda refinery, which would become the single largest FDI recipient in the sector. Mittal Investments plans to acquire the stake in the 9 million tons per annum refinery for Rs 3,365 crore through its 100 per cent arm Mittal Energy Investments Pte Ltd, incorporated in Singapore. […] After a bumper year in 2006, private equity fund-raising in India is now seeing a correction. Private equity and venture capital firms have raised $203.1 million till date in 2007, roughly one-tenth of what they had done ($2.2 billion) in calendar year 2006. While 2006 saw plenty of new funds being raised for the India market—an informal estimate puts the total at 17 funds—private equity activity this year will focus less on raising new money and more on the deployment of existing funds. […] SKIL Infrastructure Ltd (formerly Sea King Infrastructure Ltd), promoted by Nikhil Gandhi, has sought clearance from the Foreign Investment Promotion Board (FIPB) to sell a 26% stake in the Mumbai-based infrastructure company to US-based hedge fund manager Avenue Capital Group for about $500 million (Rs2,050 crore). “Avenue Capital is buying a 26% stake in SKIL Infrastructure Ltd for about $500 million. The money raised through a new issue of shares will be utilized to fund various infrastructure projects such as tourism and shipyard,” said an SKIL Infrastructure official, who did not wish to be identified. He declined to provide more details citing a “confidentiality agreement signed between the two parties”. […] The European unit of Usha Martin Ltd. plans to buy a distribution firm in Rotterdam, the Netherlands, for 3-4 million euros and hopes to close the deal by the end of this month, a company source said. “This company has been sourcing high-end wire ropes from different manufacturers. So the benefits will come to our company,” the source said. […] India's Batliboi Ltd has acquired a French textile air engineering company, AESA Air Engineering SA, for about 90 mln rupees in an all cash deal, the company said in a statement to the Bombay Stock Exchange. […] Global private equity firm The Carlyle Group has made a US$10.3 million investment in Elitecore Technologies Ltd. Headquartered in Ahmedabad, Elitecore is an IT company focusing on the fast growing Internet security and the convergent billing solutions markets. Funds will be used for Elitecore’s ongoing product development, research & development, working capital, new products and infrastructure build-up. The investment will come from Carlyle Asia Growth Capital Partners, a US$680 million fund that invests in high growth companies in China, India, Japan and Korea. […] GMR Group, the Rs 3,000 crore infrastructure major with focus on power, roads and airport projects across the country, is mulling over investing in infrastructure private equity (PE) funds. This move, when it happens, will mirror the trend in the mature technology venture capital (VC) industry where companies such as Intel, SAP and Siemens manage their own or invest in various technology VC funds. According to a senior official of the GMR Group, the company has got proposals from several PE funds to invest in them. […] |