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Real estate firm Sobha Developers Ltd said on Wednesday it has sold 40 percent stake in an upcoming Bangalore project to Dubai's Pan Atlantic LLC for $10 million (433 million rupees). Sobha plans to develop a 1.7-million-sq ft residential township at the plot in south Bangalore. A senior company official said the present value of the land is estimated at 1.05 billion rupees, which has been used as the basis for the deal valuation. The company expects sales realisation of 6 billion rupees from the project, he said. Recent months have seen a spate of private equity deals in the Indian real estate sector, as developers, faced with a cash crunch on one hand and a slowdown in demand due to high interest rates on the other, try to unlock value in ongoing projects. […]
Umicore has reached an agreement to acquire Anandeya Zinc Oxides Private Limited, located in Goa, India. The company will be fully integrated into Umicore's Zinc Chemicals business and will support the business unit's strategy of growing its position as one of the worldwide leaders in the manufacturing of high-purity, specialty zinc compounds. The acquisition and the intended additional investment amount to some USD 10 million. The intended investment involves expanding Anandeya's current zinc oxides product range to different zinc chemicals in order to provide broader support for the growth of Umicore's global customers in the expanding markets of India and the Middle East. The acquired site has spare land for the expansion of zinc chemicals production or for the incorporation of other industrial activities. The experience gained in the transaction will also benefit Umicore in its pursuit of future growth possibilities in India. The transaction is subject to certain standard closing conditions and is expected to be completed by early August. […]
NYSE Euronext (NYX) has announced that it has completed through its affiliate Euronext NV, the acquisition of 5 percent equity in the multi commodity exchange (MCX), India's largest commodity exchange group. The 5 percent equity investment is the maximum equity interest permitted by a single foreign investor in exchanges under current Indian law. “Asia pacific is a strong, growing region for global capital markets and we formalize our intent to be a part of that growth by investing in and working with MCX” said Lawrence Leibowitz, NYSE Euronext's group executive vice president. Speaking on the occasion MD and CEO, MCX, Joseph Massey said, “The strategic investment by NYSE in MCX takes our relationship to the next level and we see it as strategically important in the global context.” […]
Bumi is a specialist Geo Engineering Company serving the infrastructure sector. Bumi currently operates in India, Singapore, Dubai and Europe. Within India, it currently serves the power and urban infrastructure sub-sectors. Its projects involve several hydro-electric power plants and urban projects including the Delhi Metro. “This investment will help Bumi capitalise on the huge opportunity in Geo Engineering in India and abroad and consolidate its position as an Indian multi-national company in the Geo Engineering space,” said Mr. B Jaikumar, Chairman & MD, Bumi Geo Engineering Pvt. Ltd. Bumi was founded in 2002 by Mr. Jaikumar, an engineer, who has several years' experience in the field of Geotechnical Engineering and worked extensively in Japan, Singapore, Malaysia, Dubai and India. Bumi currently employs more than 2,000 people and is headquartered in New Delhi. […]
Tyson Foods has purchased 51% ownership of Godrej Foods, a subsidiary of Godrej Agrovet, an Indian agribusiness company. The joint venture between Godrej Agrovet and Tyson will be called Godrej Tyson Foods Annual sales for the venture are initially expected to be in the range of $50 million and are anticipated to grow as operations are expanded. The venture includes one chicken processing facility in Mumbai, in western India, and another in Bangalore, in the southern part of the country. The two plants have a combined production capacity of 60,000 birds per day and have approximately 1,000 contract production workers. The Godrej processing operations are supplied by six contracted hatcheries and a network of contracted broiler operations, which produce live birds to the company's specifications. […]
OnMobile, India's leading and pioneering Telecom Value Added Services (VAS) provider today announced that it has acquired 100% of the leading European Speech Recognition company, telisma. The addition of telisma’s standards compliant speech recognition products & expertise will enable OnMobile to accelerate its penetration into fast growing emerging markets by developing new speech recognition language models. This technology enables quick and easy access to mobile applications and content and also strengthens OnMobile’s mobile applications product suite. Telisma was created in August 2000 as a spin-off from France Telecom’s Research and Development Laboratory funded by leading European venture capital firms. Telisma has a team of around 40 employees including 9 PhDs & 18 engineers and has its operations in Europe & India. […]
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