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Laqshya Media, a privately held, leading Out-of-Home (OOH) media advertising company, has announced that Warburg Pincus, a premier global private equity firm, is making an investment of up to USD 65 Mn in the company over the next 12 months. As an industry leader, Laqshya intends to continue to invest in developing world-class media assets, focusing on the top cities and infrastructure projects such as airports, transit systems and street furniture including modern bus queue shelters and pedestrian bridges. It has actively invested in developing state-of-the-art civic infrastructure such as pedestrian bridges and public toilets in Indore, Hyderabad, Chennai and other cities; and is underwriting such investments by winning long-term contracts for placing advertising on these assets. Having built a strong business in India, Sri Lanka and the UAE, Laqshya plans to expand its footprint across the Middle East, Africa and South-East Asia. […]
Global beer major Anheuser-Busch will acquire the remaining 50% in its Indian joint venture — Crown Beers India — from its partner Crown International. This also includes the joint venture’s 500,000-hectolitre brewery in Hyderabad. “The Indian beer industry continues to grow at a rapid pace and acquiring the remaining 50% of the Crown Beers JV reaffirms Anheuser-Busch's commitment to being a key player in the emerging beer market,” Tom Santel, president and chief executive officer of Anheuser-Busch International, said. “As Crown International looks to focus on its other successful businesses, this move will continue to best position the Budweiser brand for long-term growth in India,” he said. […]
At the India’s Investors Forum, delegates will be treated to presentations by well-known and established high-profile speakers from the industry. Delegates will come away with an in depth knowledge of India’s investment industry which would allow them to anticipate challenges, capitalize on regulatory reform, adopt best business practices, and identify new and emerging opportunities in the industry. Additionally, delegates will have the opportunity to network, learn, and share with their peers in the industry. This exclusive 2 day conference must not be missed by delegates who wish to upgrade their knowledge of the industry and to gain an edge over their competitors. Special rebates for INDIA PE subscribers & Hedge Funds India’s readers/patrons to attend the mentioned event when registering with Ms. Kelly Lee. For more information on how to register & exhibit, and special rebates please contact Ms. Kelly Lee Tel No: + 6032723 6798 Email: KellyL@marcusevanskl.com Event link: […]
Bangalore based Jivox, the first self-service, online video advertising platform, has announced that it has closed a $10.7 million Series A round of financing led by Opus Capital. New investor Helion Venture Partners, an India-focused venture fund, also participated in the round, along with Jivox’s existing investors. The funds will be used to continue development of the Jivox online video advertising platform, as well as to expand the company's sales and marketing efforts in both India and the US. The company, headquartered in California, USA, had commenced its India operations in March 2008, through a sales and development office in Bangalore. Naren Nachiappan, Managing Director-India, Jivox, said, “The Jivox online video ad platform enables businesses to harness the power of online video advertising by reducing the cost and complexity of developing and placing online video ads.” […]
The row between Sun Pharma and Israel's Taro Pharmaceutical has now reached court after the cancellation of $ 454 mn merger deal between the two. Taro Pharmaceutical has taken the Mumbai-based firm to the court as it presses to go ahead with sale of its Irish operations and 'protect minority share holders' in the event of the former trying to gain voting rights through open market share purchase. In a letter to its shareholders, Taro said it had filed two lawsuits in an Israeli court. One of them was filed on June 15 aimed at stopping Sun from “engaging in practices that we deemed detrimental to our ability to maximize the value of the Irish operations in a sale.” […]
The disinvestment of promoter Andrew Yule's stake in lubricant outfit Tide Water Oil might turn out to be a high-voltage affair. Sources close to the development said that major domestic and international oil players — Reliance Industries, French oil giant Total, US oil giant Chevron, Hinduja group and Keventer group — have evinced interest in bidding for the Calcutta-based firm. Tide Water markets lubricants under Veedol brand and is a key player in the diesel lube market in the country. The Union ministry of heavy industries has already given green signal to the divestment of Tide Water Oil in May. The ministry has also asked Andrew Yule to appoint a consultant for the same. When contacted, the CMD of Andrew Yule, Kallol Datta, said the company would float a global tender for appointing a consultant for disinvestment of Tide Water by end-June. “We are hoping to get a good response,” he said. However, he did not comment on the interest shown by the oil giants for acquiring Tide Water. But, according to sources, Reliance Industries has internally discussed about the synergy between its business and Tide Water. […]
The Motilal Oswal-managed India Business Excellence Fund has invested Rs 40 crore in Dixon Technologies India to help the consumer durable manufacturing firm expand its existing production facilities and set up a new unit. The fund would also be used to expand Dixon's existing manufacturing capacities at Dehra Dun, Noida and Mohali. Besides, it would also be used to set up a new unit near Chennai to cater to southern India, a release stated. Dixon makes a range of consumer durables and appliances including digital TVs, set top boxes etc for domestic and global brands that are sold under its own 'Weston' brand. […]
The Shyam Group and Spanco Telesystems & Solutions, one of India’s leading telecom systes integration and IT services companies, have entered into a pact with Punj Lloyd to acquire the latter’s interests in Spectranet, its ISP division. A joint venture, called Citycom Networks, has been formed for this purpose. The deal is expected to close over the next few months and is subject to statutory and regulatory clearances. The new promoters of Spectranet intend to create a neutral telecom infrastructure for next generation wire line and wireless broadband that promises exciting possibilities for telecom operators and ISPs. […]
Ess Dee Aluminium, India's biggest pharmaceutical packaging company, has won a regulatory approval to bail out India Foils, which is owned by Vedanta Group, ahead of a possible takeover. Ess Dee, based in Mumbai, has been cleared by the Board for Industrial and Financial Reconstruction (BIFR) to help revive Kolkata-based India Foils, part of billionaire Anil Agarwal-controlled Vedanta group. Ess Dee and Vedanta's Madras Aluminium (Malco), the holding company of India Foils, will form a special purpose vehicle (SPV) to turnaround India Foils, which is saddled with liabalities of over Rs 300 crore. The SPV will invest in about Rs 50 crore immediately to upgrade the three manufacturing facilities to US Food and Drug Administration (FDA) standards, eyeing exports to developed markets with value added products and contract manufacturing options, said sources. Datta added that it was still early to predict whether Ess Dee would take over the company. “We have to see how the business prospers and the manner in which it adds value to Ess Dee's business.” […]
Sasken Communication Technologies, the Bangalore-based Rs 570 crore embedded communication solutions provider, is taking the limited partner route to enter the venture capital segment. The company during the last quarter made an undisclosed investment in US-based technology venture capital firm OmniCapital. This venture fund is led by Arun Netravali, who was earlier president of Bell Laboratories, the place where path-breaking communication technologies took shape. Sasken, chairman & managing director, Rajiv C Mody in a statement to their shareholders said: “Sasken has invested in OmniCapital, a US-based venture capital fund that provides early-stage funding for information technology companies in the US. The investment in OmniCapital augments Sasken's access to the US market, providing another window into the latest technology, industry developments and new markets in information technology, telecommunications, video and multimedia.” Mody goes on to state that the investment also provides opportunities for mutually-beneficial strategic partnership with OmniCapital portfolio companies. […]
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