October 2008
« Sep   Nov »

Contact us

PE funds trapped in falling markets

Falling equity markets have trapped major private equity (PE) investors such as Warburg Pincus, Blackstone Group, Carlyle, Apax Partners, Chrys Capital and Citigroup.Last year, when the market touched new highs, these PE funds invested in companies such as Bharti Airtel and Suzlon, some with one-year lock-in periods. Now, the value of these investments has fallen drastically and the funds find their PIPE (private investment in public enterprises) portfolios awash in red. PIPE deals include qualified institutional placements, or QIPs, which have no lock-in and private placements. […]

ACC buys 40% equity stake in Alcon for Rs 222.5 million

India’s largest cement maker ACC has announced that the conglomerate has acquired 40% equity stake in Goa-based Alcon Cement Company for Rs 222.5 million. Alcon has a clinker grinding and cement packing plant in Goa with a production capacity of 500 tonnes a day. It entered into a joint venture with ACC for technical and marketing support. According to the sources, the equity stake was acquired in the previous quarter. […]

IFC to pump in $75 m in United Phosphorous

International Finance Corporation (IFC) is planning to invest up to $75 million in the agro-chemical company, United Phosphorous Ltd (UPL), to fuel its expansion plans. UPL will use the funds in enhancing its production capacities and products portfolio, along with possible acquisitions. During the financial year 2008, UPL has invested around Rs 229 crore as capital expenditure in increasing capacity of agro chemicals and industrial chemicals plants. “For the next three years capital expenditure of the company may cross Rs 500 crore,” said chairman and managing director (CMD), UPL, Rajju Shroff. “The company will continue to look for acquisition opportunities world over.” In previous financial year, the firm acquired 100 per cent stake in Evofarms […]