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Hinduja group BPO HTMT Global Solutions said it is in buyout discussions with two US companies and one UK firm to strengthen its portfolio and added that it has lined up Rs 25-crore to spend on expanding its Durgapur operations. “Two of the companies we are targeting have a revenue close to $50 million, and the revenue of the other firm on our radar has revenue nearer to the $150 million mark ,” HTMT Global CEO Partha Sarkar said on the sidelines of CII’s ‘ICT East’ summit. “We have a $110 million reserve to fund the buys.” However, Sarkar did not elaborate on when HTMT Global hoped to close any of the deals and the segments in which the target companies operate. […]
Raman Roy’s Quatrro BPO Solutions has lined up a $300-million war chest for acquisitions. The company has teamed up with two foreign private equity firms and has bid for three US-based BPOs. The cumulative value of these three bids is around $250 million. Of this, one of the bids alone is worth $150 million for a BPO outfit in the mortgage space. “We are in negotiations with the managements and promoters of all three companies where we’ve placed our bids. The three firms operate in niche areas where there is hardly any activity in India,” Quatrro BPO Solutions CMD Raman Roy said. […]
DreamWorks SKG is near an agreement to get $550 million in funding from Indian billionaire Anil Ambani, allowing Steven Spielberg's film studio to split from Viacom Inc., according to a person with knowledge of the talks. A deal may be reached as soon as next week, said the person, who declined to be identified because the agreement isn't final. The studio will borrow $400 million and no additional outside equity will be required, the person said yesterday. The investment from Reliance Anil Dhirubhai Ambani Group would give Spielberg, 61, the backing he needs to leave Viacom as soon as November. DreamWorks partners Spielberg, David Geffen and Jeffrey Katzenberg sold the studio to Viacom for $1.6 billion in 2006. […]
Private air-charter service provider Airnetz Aviation plans to raise USD 100 million over the next 2-3 years to fuel its overseas expansion and fund its aircraft acquisition programme, a top company official said. “We have plans to raise USD 100 million to expand our footprint globally and also to fund the acquisition of some aircraft over the next 2-3-years,” Airnetz's Chief Executive Officer Atul Khekade said here on Thursday. “We are in advanced stages of negotiations with investors from India, Singapore and the US to raise these funds. We hope to seal our funding over the next two months,” Khekade said. “It is a mix of both, private equity players and financial institutions,” he said. […]
Hansen Transmissions International NV, the world’s fifth largest gearbox maker owned by Pune-based Suzlon Energy Ltd, is in discussions with Shanthi Gears Ltd to buy a substantial stake in Shanthi Gears, India’s second largest industrial gearbox maker. The Belgium-based firm, controlled by billionaire Tulsi Tanti, is looking at buying between 50% and 100% of chairman P. Subramanian and his family’s stakeholding in the four-decade-old Coimbatore-based company, at around a 30% premium to the market price, a banker familiar with the negotiations said. Based on Wednesday’s stock price of Rs63 per share, Hansen would have to pay Rs67.75 crore at Rs81.90 per share, to purchase half of the 45% stake in Shanthi owned by the chairman and his family. […]
In tough market conditions where raising equity is proving to be difficult, the Bangalore-based Dynamatic Technologies Ltd, has quietly concluded a qualified institutional placement (QIP) to Fidelity, Amansa and New Vernon. The shares have been placed at Rs 1,234 a share, as against BSE's close of Rs 1,299 a share on Thursday. The board has cleared an in-principle allotment of 6.04 lakh shares to the three investors to raise Rs 74.53 crore. “Our investment plan envisages a budget of more than Rs 160 crore. We are looking at acquizitions, besides planning an expansion of domestic operations. The balance would be raised in the form of debt,” V Sunder, president (Finance), Dynamatic told TOI. […]
30 ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is believed to be close to make a $2.5 billion bid to takeover Russia-focused oil company Imperial Energy. OVL is at an advanced stage of takeover talks with London-listed Imperial Energy and may make a price offer soon, bankers associated with the deal said. A relatively small British oil and gas company based in Leeds in UK, Imperial has said that it has received an “approach”, which could result in an offer for the business. ONGC Chairman and Managing Director and OVL Chairman R.S. Sharma declined to comment on the transaction, while OVL Managing Director R.S. Butola could not be immediately reached. […]
While foreign portfolio investors have been selling stocks of Indian companies, overseas venture capitalists continue to invest in Indian assets. In a sharp contrast to foreign institutional investors (FIIs) selling shares worth Rs 15,000 crore in the first quarter, foreign venture capital (FVC) investors have invested close to Rs 17,000 crore in Indian assets during the April-June quarter. The spurt in foreign venture capital investments has been attributed to dipping asset prices, the presence of more India-dedicated venture funds, besides the slide in the stock market. While IT companies continue to account for a majority of foreign venture capital investments, the proportion of non-IT investments — both by activity and value — has gone up. […]
A tightening bias of monetary policy, slowing demand and growing liquidity concerns, could have a negative impact on the credit profiles of Indian real estate companies, says a report by rating agency Fitch. The slowdown would mainly affect the smaller real estate companies while increasing the relative strength of some large players, the report said.The prolonged slowdown could also reduce the appetite of private equity, it said. […]
The year 2008 began keeping pace with the heightened deal activity in 2007 and saw the completion of the much anticipated Tata Motors’ acquisition of the two marque brands Jaguar and Land Rover for $2.3 billion from Ford Motors. However, the downturn in the global and domestic economies seems to have impacted India’s M&A scenario. While the total number of transactions fell from 663 in the first half (H1) of 2007 to 467 in H1 2008, the total deal value saw a sharp slump, dipping by over 40% from US$38.4 billion in H1 2007 to US$21.4 billion in H12008. The sectors which have been driving the strategic M&A activity include Pharmaceuticals, IT&ITeS , Banking & Financial Services (BFSI) and Real Estate. The outbound investments accounted for US$ 8.2 billion of M&A activity spread over 96 deals. (Sanjeev Krishan : The author is a director at PWC) […]
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