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Anil Ambani-led Reliance Communications is looking for a possible takeover of Premier League club Newcastle United for an estimated 260 million pounds, a media report said. “Newcastle United owner Mike Ashley is in talks with Anil Ambani, the sixth richest man in the world and head of Reliance Communications, India's biggest telecom company,” the News of the World reported on Sunday. Newcastle is in the midst of a massive 260-million-pound takeover battle between Asia's two richest companies Reliance Communications and Singapore-based global investment company Profitable Group, it said. […]
Industrialist Anil Ambani has quietly entered the fledgling Indian private equity space. His financial services arm Reliance Capital has launched a wholly-owned subsidiary Reliance Equity Advisors (REAL) to offer the entire bouquet of private equity services. Ramesh Venkat, group CFO of the Anil Dhirubhai Ambani Group (ADAG) has been given the additional responsibility of spearheading REAL. REAL has put in place a 15-member advisory team and received regulatory approval to build an initial corpus of $1 billion. Of this, ADAG will contribute 15-20 per cent while the balance will be mobilised by two linked funds, one based in Mauritius and the other in India. Mr Venkat told ET that REAL has started talking to investors to put together a $1billion fund. “The initial response has been very good. There is good investor appetite for our fund. We expect to close the fund in a few months,” he said. Mr Venkat is a director of REAL. Mr Venkat said the fund will focus on sunrise sectors such as services, logistics, realty and pharma. The ticket size of investment will be $15-100 million. […]
HDFC Property Ventures is investing $20-25 million into South India's largest central business district (CBD) mall developed by Nitesh Estates in Bangalore. The move probably marks the $900-million HDFC Property Ventures' foray into retail infrastructure in a rather tight-market environment, sources said. HDFC Property Ventures will pick up around 20-25% stake in the 6-lakh sq ft Nitesh Mall, which is being designed by Seattle-based Callison. Nitesh Mall, which is the Bangalore-headquartered real estate firm's first retail play, is estimated to be a Rs 300 crore project. The Nitesh Mall will come up on a 5.5 acre patch near hotel Leela Palace, off the Indiranagar 100-ft road that is considered one of Bangalore's highstreet retail hubs, with most big brands operating their flagship stores there. When contacted Nitesh Estates' director, development, LS Vaidyanathan declined to comment on the deal. HDFC Property Ventures CEO KG Krishnamuthy could not be contacted immediately. […]
Chandigarh-based Alchemist Group is scouting for private equity investments to fund its Rs 800 crore expansion plan of opening 1,200 odd outlets of its quick service restaurant chain Republic of Chicken by 2010. “The total investment in the chain by 2010 will be Rs 800 crore and we could be looking at private equity funding. We are sure the return on investment of each outlet will not be more than 18-22 months,” Republic of Chicken Chief Operating Officer Tapan Sinha said. He said the company would be set up around 1,200 'Diner and Deli' counters by 2010 and is seeking the PE route for financing the plan. Sinha did not cite a time-frame for seeking the percentage stake the company would be divesting. […]
Mauritius-based private equity fund, India 2020, plans to invest up to USD 50 mn in around five to six rapidly-growing and mainly unlisted companies by this year-end, a top company official said. The Rs 500 crore India 2020 fund is sponsored by Lighthouse Funds, a global private equity firm with operations in the US and India. “We are in talks with several growth-stage companies and are confident of sealing about half-a-dozen deals by this year-end. The cumulative investment will be around USD 50 million,” Lighthouse's Managing Partner, Mukund Krishnaswami said. The fund focuses on rapidly-expanding small and medium-sized companies. […]
Beleaguered UK investment group Dawnay Day's stakes in its Indian businesses are on the verge of being sold. Five to six potential buyers have shown interest in the UK firm's stake in financial services, hotels and real estate ventures here. New Silk Route, the fund promoted by ex-McKinsey chairman Rajat Gupta, is said to be ahead in the race for acquiring the UK firm's 50% stake in financial services joint venture – Dawnay Day AV India. Dawnay Day AV India is a joint venture between Alok Vajpeyi, ex-DSP Merrill Lynch official, and Dawnay Day International, the financial services arm of the UK-based Dawnay Day Group. Mr Vajpeyi holds 25% stake and the remaining 25% stake is held in a trust for the management. Other than the financial services subsidiary, Dawnay Day has two other subsidiaries in India – Dawnay Day Hotels India and Dawnay Day India Land […]
Parsvnath Developers Ltd, the New Delhi-based realtor, is in advanced talks to sell stake in its special economic zones (SEZ) projects to fund its developmental plans, its top official said. The realtor is in talks with at least five private equity funds, including Saffron India Real Estate Fund, which has taken a 15% stake in Parsvnath's subsidiary for the Rs 620 crore project near the Bandra Kurla complex in Mumbai. “Everything related to the stake dilution for the SEZ project is done, and we expect to make a formal announcement within a month,” Parsvnath chairman Pradeep Jain told DNA Money. However, Parsvnath neither provided the financial details of the stake sale nor did it give the names of the equity funds. […]
Unitech Limited, the country’s second largest realty firm, plans to raise nearly US$1 billion (Rs 4,200 crore) in the current financial year from private equity (PE) players for expanding its hotel, commercial and retail business, across the country. The company intends to raise funds by floating special purpose vehicles (SPVs) in different projects. Under the proposed plan, the company will invest $300 million on hotel projects while $700 million on commercial and retail projects. The projects will be implemented in cities such as the National Capital Region and Mumbai among others. […]
Leading investment bank Nomura Holdings Inc. said Friday it has agreed to contribute USD 16 million to India's digital media and entertainment provider Real Image Media Technologies Pvt. Ltd. The financing deal will allow Nomura to support the booming consumer services and media entertainment industry in India and thus contribute to the country's economic growth, the bank said. Established in 1986, Real Image provides digital cinema technology solutions that address not just the needs of cinema houses for digital cinema equipment and content, but also encompass the needs of the media and in-cinema advertising industry in India, according to Nomura. […]
The mergers and acquisitions (M&A) activity by India Inc seems to be running out of steam. According to a study, M&A deals have declined by nearly 60% in the first half of 2008 compared to the same period last year. Experts say if global financial conditions continue to remain under pressure, M&A activity will take a back seat. According to a study by Grant Thorton, there were 335 M&A deals worth 43.97 billion dollars in first half of 2007. This year the value of M&A deals have declined to 17.4 billion dollars. Experts say it's lack of easy financing, that's creating a hindrance. Harish HV, Partner, Grant Thornton said, “We had seen some mega deals last year, which were missing this year. We are buffeted by a global financial crisis this year. If it continues the way it is going now, we will see some more slowdown. Making deals at the end of the day requires the market to be vibrant and capital to be raised in an efficient way. […]
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