|
|
Anil Ambani-controlled Reliance Entertainment is likely to put in a bid for the iconic film studio Metro-Goldwyn-Mayer, or MGM, as it seeks to increase its presence in Hollywood beyond its existing tie-up with Steven Spielberg’s DreamWorks Studio, a person privy to the development told ET. MGM, the owner of a library with more than 4,000 titles, including classics such as the Pink Panther and James Bond movies and more recent ones such as Legally Blonde, a series of comedy films, has been put on the block by its lenders, a consortium of over 100 financiers led by JPMorgan. Twelve potential bidders with background in media and movie-making have signed non-disclosure agreements, according to a Reuters report. Banking sources said Reliance Entertainment is among them. […]
The stock of ABG Shipyard moved up after the announcement that it received a 15.23 per cent stake of Great Offshore in the open offer. Officials at ABG Shipyard could not be reached for comment on what do they propose to do with the stake. ABG and its rival, Bharati Shipyard, had made competitive bids to acquire 33.8 per cent and 20 per cent stakes in Great Offshore respectively. ABG’s offer was to acquire stake at Rs 520 a share, while Bharati’s offer was to acquire at Rs 590 a share. Bharati received 27 per cent of the stake against its offer to acquire 20 per cent. The open offers concluded last month. […]
Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 11, 2010, inter alia, have approved the fund raising proposal unanimously and recommended for Shareholders' approval at their Extra Ordinary General Meeting to be held on February 03, 2010. The Board approved Preferential Allotment of 1,83,500 (One Lac Eighty Three Thousand Five Hundred), 3% Cumulative Compulsorily Convertible Preference Shares having a face value of Rs. 2187 each, to India Business Excellence Fund I (a Public Limited Life Company, established under the laws of Mauritius) […]
Bharti Airtel Ltd., India’s largest mobile-phone operator, agreed to acquire a 70 percent stake in Warid Telecom in its first overseas acquisition. Bharti, controlled by billionaire Sunil Mittal, will invest $300 million and take management control, the New Delhi-based company said in a statement today. Privately held Dhabi Group will retain a 30 percent stake, it said. The investment is the biggest by an Indian company in neighboring Bangladesh. Bharti was India’s second-worst performing benchmark stock last year as competition from Vodafone Group Plc and NTT DoCoMo Inc. cut revenue and a $23 billion merger with South Africa’s MTN Group Ltd. collapsed. Dhaka-based Warid has 2.92 million subscribers, matching the number of users that Bharti adds in India in a single month. […]
Optical storage devices manufacturer Moser Baer India today said it will raise USD 100 million (about Rs 454 crore) by various fund raising routes, from national and international markets. The company’s board of directors at their meeting held on January 11 have decided to raise funds for an amount up to USD 100 million, Moser Baer India said in a filing to the Bombay Stock Exchange. […]
Private sector lender Yes Bank plans to set up a firm, Yes Ventures, to house its private equity funds, in 2010-11. “We are keen on having a centralised PE enterprise which will help incubate stand-alone and partnership funds,” Yes Bank Managing Director and CEO Rana Kapoor told Business Standard. The bank is in the process of closing a $200-million (over Rs 900 crore) cleantech private equity fund with US private equity investor Global Environment Fund. The fund, proposed in June 2008, was expected to mop up $500 million (around Rs 2,300 crore at Monday's exchange rate). It will close this month. […]
Two private equity (PE) players, Standard Chartered Private Equity and Providence Equity Promoters, may jointly invest $200 million in Multi Screen Media (MSM) India, earlier known as Sony Entertainment Television (SET) India. The deal includes a buyout of 32 per cent held by Bollywood actor Jackie Shroff and three others, and infusion of funds as fresh equity. Sony’s US-based parent, which holds 61 per cent in MSM, will also bring in funds. According to investment bankers privy to the development, the deal is likely to be finalised by the end of this month. The balance capital in MSM is with another private equity investor, Capital International of Japan. […]
Difficult fund raising conditions slowed the pace of private equity (PE) investments in the country by 64 per cent to a four-year low of $ 3.8 billion in 2009. Private equity firms made an annual investment of $ 10.47 billion made in the previous year, according to deal tracking firm Venture Intelligence. Such level of investment was last seen in 2005 when PE firms had invested $ 2.2 billion through 167 deals. “It has been a difficult year for PE funds as volatility in public markets and continued uncertainty around the ability to raise new funds caused investment activity to be muted in 2009,” Venture Intelligence CEO Arun Natarajan said. […]
Mirroring the impact of the global meltdown across sectors, investments by venture capital (VC) companies in clean technology companies fell 13 per cent on year in 2009. According to a study by Cleantech Group and Deloitte, Indian companies raised $190 million (Rs 866.4 crore) last year compared to $218 million (Rs 994.1 crore) in 2008. Biofuels was the pick of venture capitalists with the segment witnessing 55 per cent of the investments. […]
Viceroy Hotels, a mid-sized hotel and resort chain, said the real estate investment arm of JP Morgan has picked up 49 per cent equity in one of its units for Rs 700 million. JP Morgan India Property Mauritius has picked up stake in a Bangalore hotel subsidiary of the company, it said in a statement to the Bombay Stock Exchange late on Thursday. “The investment is in line with our business restructuring plans,” said a senior company executive. “We have appointed KPMG India to advice on the restructuring process.” […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|