December 2008
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Actis to invest $1 Billion in India

Private equity major Actis has raised a $2.9 billion private equity fund – Actis Emerging Markets 3 (AEM3) – for emerging markets of Africa, China, India, Latin America and south-east Asia. This is one of the emerging markets private equity funds closed this year and doubles the amount raised by Actis in 2004. The new fund will invest $1 billion in India over a period of 3-4 years. AEM3 includes commitments from a group of 100 investors from across the globe, including a number of first time investors in emerging markets. […]

Blackstone buys majority stake in CMS

The Blackstone Group has taken a majority stake in Mumbai-based CMS Computers and set-up up a company by carving out the IT infrastructure management and outsourced business services division. The new company's valuation is estimated to be around Rs 500-550 crore. Blackstone is understood to have taken slightly less than 55 per cent stake, and Rajiv Kaul — appointed as its executive vice chairman and CEO — is understood to have taken a minority stake of around 5 per cent. Till recently, Kaul was a global partner with Actis Capital LLP based out of London. Prior to that, he was with Microsoft for over 10 years. His last assignment at Microsoft was as senior director for emerging markets, including BRIC-based in Redmond and the US. […]

Balaji Distilleries to merge into United Spirits

United Spirits has announced that its board of directors has considered and approved the proposal of merger of Balaji Distilleries into United Spirits. According to the company, the merger, which will come into effect from April 1, 2009, is subject to the necessary approvals. United Spirits has said that through Balaji Distilleries, it secures presence in Tamil Nadu in India. […]

Religare Enterprises gets SEBI nod for LOTUS acquisition

Religare Enterprises Ltd (REL) one of the leading integrated financial services groups of India, confirmed that Religare Securities Ltd (RSL), its wholly owned subsidiary has received clearance from SEBI to acquire the entire shareholding of Lotus India Asset Management Company (Lotus India AMC) from its shareholders. Earlier this month, Religare had announced its decision to acquire Lotus AMC and subsequently announced its restructuring plans relating to Religare's partnership with Aegon in the asset management business in India. Religare had a 50-50 JV with Aegon in 'Religare Aegon AMC'. Religare has also received regulatory approval for divesting its stake in this AMC partnership. […]