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Private equity and venture capital investments in the country's renewable energy space totalled USD 527 million during the past four years, accounting for nearly a fourth of the total transaction valuations. “PE,VC players have invested USD 527 million in the country's renewable enrgy sector– 24 per cent of te total transaction value in India for the period January 2005-July 21, 2009,” global consultancy firm Ernst &Young said. During the four-year period, the merger and acquisition and PE/VC activity in India's renewable energy space stood at USD 2.15 billion. The average deal size stood at USD 69.5 million during the same period. […]
Petronet LNG, the country's biggest liquefied natural gas importer, is in talks with Canadian producer Interoil on buying a stake in Interoil's proposed Papua New Guinea project, a senior executive said on Tuesday. Petronet Managing Director Prosad Dasgupta also told reporters on the sidelines of the LNG World conference in Perth that the company was seeking more LNG from Chevron 's Gorgon project in western Australia and from an ExxonMobil project in Papua New Guinea. (Forbes) […]
Tata Capital, the financial services arm of the Tata group, is likely to come out with a private equity fund shortly. This was announced by Tata Capital managing director Praveen P. Kadle on Tuesday. Kadle declined to say what could be the size of the private equity fund, but according to early indications, the fund-size will initially be of $350-400 million. Tata Capital has an Rs8,500 crore alliance with the Japanese Mizuho Financial Group. Kadle said the alliance with Mizuho provided the right platform for Indian corporates to tap the Japanese market. He said Japan offered tremendous opportunities for Indian companies to raise capital through equity as well as debt. […]
The United Kingdom’s largest UPS supplier, Chloride Group, has entered India through a 90 per cent stake purchase in the Pune-based UPS maker, DB Power Electronics Pvt Ltd, at an approximate cost of Rs 253 crore. The deal follows a four-year-old strategic partnership between Chloride Group and DB Power Electronics for sales and servicing of Chloride Group products in India, Nepal and Bangladesh. With this deal, Chloride Group has acquired a majority shareholding in DB Power Electronics and will take over three manufacturing units in Pune and Satara, along with a research and development facility in Pune city. DB Power Electronics had reported revenues worth Rs 270 crore. […]
As valuation of Indian companies have improved with the recovery in the stock market, a number of private equity players are offloading their stakes and such exits have shot up nearly 30 per cent in the first seven months of 2009. Till July this year, India Inc saw as many as 31 deals where the PE firms sold their stakes in domestic companies – an increase of 29 per cent over the corresponding period a year ago. In the comparable period there were 24 such deals, according to data compiled by the deal-tracking firm Venture Intelligence. “PE firms which are currently exiting, invested in Indian companies way back in 2004-05. With the recovery in the stock market, they are now finding valuations attractive and are selling stake,” Venture Intelligence CEO Arun Natarajan said. […]
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