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In a bid to unlock value at one of the world’s largest gas finds in the Krishna-Godavari basin, Reliance Industries Ltd (RIL) is believed to be planning to divest up to 10% stake in its K-G D6 block to a strategic foreign partner. A 10% stake in the block, valued at Rs 59,800 crore according to Deutsche Bank, will fetch RIL a neat sum, which could be further pumped into exploration and production (E&P). RIL holds 90% in the K-G D6 block and Nikko Resources, the rest. Agencies reported on Thursday that RIL has initiated talks with a host of big global energy E&P players as potential partners. Hydrocarbon giants with the required expertise include the likes of ExxonMobil, Shell, BP, Total and Petrobras. However, the move could not be independently confirmed, as Reliance officials remained tight-lipped about it. An RIL spokesperson declined to comment. […]
Atlas Copco India Ltd (ACI), the Indian subsidiary of Swiss industrial productivity equipment manufacturer Atlas Copco AB, has acquired a 25% holding in two Hyderabad-based drilling technology companies—Focus Rocbit Pvt. Ltd and Prisma Roctools Pvt Ltd—for an undisclosed amount. While Focus Rocbit is a manufacturer of bits for rotary drilling, Prisma Roctools makes bits and hammers for down-the-hole drilling, said Mike Mustapha, managing director of Atlas Capco India. Atlas Capco has the option to acquire the balance 75% holding in these two companies, which currently have a combined turnover of $10 million (Rs40 crore), within a year. Atlas Capco has acquired four companies in the Indian market in the last five years. It did not disclose the financial terms for those deals as well. […]
Financial Technologies India acquired 90% stake in ICX Platform (Pty), a technology company situated at Johannesburg, South Africa, having IPR & corporate ownership of electronic warehouse receipts technology, at a cost of upto USD 1.50 million, subject to applicable approvals and fulfillment of certain representations and warranties by the sellers of ICX. Financial Technologies (India) is a flagship company of Financial Technologies Group. Financial Technologies is India`s leading vertical specialist enterprise delivering mission-critical, straight through processing (STP) solutions comprising domain expertise, technology licensing, development and transaction outsourcing services. […]
Global investor Lehman Brothers has picked up a 40 per cent stake in the upcoming IT park project of property developer Peninsula Land (PLL) in Hyderabad. Lehman is expected to pump nearly Rs 50 crore into the project. PLL is expected to hold the remaining 60 per cent. The initial cost of the project, including land, is Rs 125 crore and the development cost is nearly Rs 1,400 crore. The company is planning to fund the project through debt and draw more funds from Lehman if required, sources said. Recently, PLL and Lehman tied up to invest in the realty projects of Peninsula. In the Rs 700-crore joint venture, Lehman invested Rs 500 crore and held a 75 per cent stake, while PLL subscribed to the remaining equity at an investment of Rs 200 crore. The Hyderabad deal was the first such investment from Lehman, sources said. […]
The private equity arm of Future Capital, acquired 10% stake in Percept, the flagship company of the Percept group, for nearly Rs 650 million, reports Business Standard. The deal values Percept, an entertainment, media and communications player, at Rs 6.5 billion. Percept has a presence in advertising, public relations, media communications, film and TV content production and distribution, talent management, sports and events marketing in India and West Asia.( My Iris) […]
Bennett, Coleman & Company (BCCL), India's largest media group, has acquired a stake in the city-based Nouveau Dietetique. Nouveau Dietetique is engaged in the business of functional and medical foods. Its health foods are marketed under the brand name 'Satva'. The products are being commercially launched in Chennai, Bangalore, Mumbai, Delhi, Pune and Ahmedabad. Some of its products are Choco-de-lite, a chocolate without sugar and Getrima, a nutritional drink designed to fit into weight maintenance programme. […]
Online marketing firm id8Labs plans to raise up to USD 6-8 million through private equity in the next three months. id8Labs, with currently more than 100 employees on board, plans to double its workforce to 200 professionals in FY09. Amit Tripathi, founder of NetWeb Solutions, had earlier acquired the 51% stake of Percept Holdings in WebPercept on Mar. 29, 2007 and re-christened it id8Labs. Later in October 2007, id8Labs also acquired the business franchise of eDesign Tree in India and launched id8Labs Global in association with eDesign Tree in the USA. […]
Citi group’s realty arm, Citi Property Investors (CPI), has bought 40% stake in each of the four Special Economic Zones (SEZs) of Delhi-based real estate group BPTP for $160 million (approx Rs 640 cr). The fund raised will be used to pay the first instalment of Rs 5,006-crore Noida land deal which BPTP bagged recently, a BPTP official said. CPI, which manages approximately $13.0 billion in gross real estate assets globally, had last year taken an equity stake of 5.89% in BPTP by investing Rs 322.5 crore. Besides Citi, Merrill Lynch’s real estate arm also invested in the BPTP group last year. Merrill bought 49% stake in an SPV developing 4.5-acre IT park on the Gurgaon Expressway for Rs 112.55 crore. […]
Opto Circuits India has acquired majority stake in Wisconsin based Criticare Systems Inc. Upon completion of share transfer process, Criticare Systems will become a subsidiary of Opto Circuits. Having access to the expanded product line and leading edge technology offered by Criticare will allow Opto Circuits to enter new markets and compete more effectively with leading manufacturer of vital sign monitors, anesthesia monitors, pulse oximeters and patient monitors and accessories. In addition, the acquisition now adds anesthesia gas monitoring capability to Opto's technology portfolio. (ET) […]
US-based private equity player Clear Trade, which is floating a $12 billion fund along with leading US private equity firms to invest in Indian power and infrastructure projects, is in talks with a leading power producer in China to float a consortium to bid for the ultra mega power projects (UMPP) in India. “We are in discussions with a leading Chinese company to form a technical consortium to bid for the UMPPs and hope to finalise it within a few weeks,” said Deepak Kavadia, managing director, Clear Trade. Some of the US funds associated with Clear Trade had made over $500 million investments in the Chinese power major, he added. The Indian government is planning to set up 9 UMPPs in the country with about 4,000 mw capacity each to add at least 78,000 mw of additional power by 2012. […]
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