February 2010
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ADB May Start $100 Million Clean-Energy Venture Capital Fund

The Asian Development Bank may raise at least $100 million more in venture capital to invest in developers of advanced clean-energy technologies in the region. The lender has formed a taskforce to design the fund before seeking management approval, Jun Tian, an adviser at the Manila- based bank’s regional and sustainable development department, said in an interview in Tokyo today. The lender had already raised $363 million for four funds focusing on renewable energy including wind and hydropower plants in order to thwart climate change, Tian said. Clean energy investment fell 6.5 percent to $145 billion worldwide last year from 2008, according to Bloomberg New Energy Finance, as the global recession sapped funding for the sector. […]

Burmans plan Rs 925-crore healthcare fund

The Burman family, the promoters of FMCG major Dabur India, is planning to set up a $200 million (around Rs 925 crore) private equity (PE) fund dedicated to the healthcare and life sciences segment. This is the second major initiative of Burmans in the healthcare space after they sold their entire stake in cancer medicine manufacturing company Dabur Pharma for Rs 878 crore to French healthcare major Fresenius SE in 2008. The Burmans are known to be investing in a greenfield facility to house the operations of Dabur Research Foundation, now a full-fledged contract research organization. Former Dabur Pharma CEO Ajay Vij will be heading the contract research entity as well as the private equity fund. When reached for comment, Vij confirmed the development […]

Actis Invests $50 Million In Integreon

Actis, an emerging markets private equity specialist, announced today that it has invested US$50 million (INR 235 crores) to acquire a substantial minority stake in Integreon, the leading global provider of legal support, research and business services to law firms, financial institutions and corporations. As part of this investment, JM Trivedi, Actis's Head of South Asia, and Gautham Radhakrishnan, a Director at Actis, will join Integreon's board of directors. Actis has invested alongside Ayala Corporation, the oldest and one of the leading conglomerates in the Philippines, which initially invested in Integreon in 2006 through LiveIt Investments, its business process outsourcing holding company. Ayala Corporation will continue to hold a majority stake in Integreon. Today, professionals at leading organisations including 11 of the top 50 global brands such as Microsoft; 32 of the AmLaw 50 such as Clifford Chance and DLA Piper US LLP; and 9 of the top 10 global investment banks focus on their “highest and best use” by trusting high-quality research, document, and legal solutions from Integreon. Integreon revenues have grown at an 83 per cent CAGR since 2006 to an $89 million revenue run rate in Q4 2009. […]

QInvest says to buy 25 pct stake in India's Ambit

QInvest, Qatar's largest investment bank, will buy a 25 percent stake in Mumbai-based Ambit Group for an undisclosed amount, the company said. The deal, the company's first investment in India, will help Ambit expand its investment banking, advisory and private wealth businesses, the statement said. The investment “will dramatically accelerate QInvest's ambitions in India, one of the world's fastest growing economies,” QInvest CEO Shahzad Shahbaz said in the statement. “We see significant opportunities for our clients and ourselves across investment management, investment banking, private equity and brokerage,” he added. […]

Air Works Engg buys 85% stake in UK based Air Livery

Air Works Engineering, India`s leading provider of aviation services has acquired 85% stake in Air Livery, UK. With an annual turnover of Rs 1.35 billion, Air Livery is Europe`s leading aircraft refinishing company. The acquisition adds significantly to both the revenue and profitability of Air Works. Air Works has constantly been focusing on adding accreditations and services to make the company a one-stop shop for all aircraft maintenance work. Air Works recently became the first Indian independent airframe MRO Company to be awarded the EASA repairs station approval. By adding a whole new section of painting and refurbishment services through this acquisition, Air Works marks another significant milestone for the Indian MRO industry. […]

PE deals quadruples to $1.24 bn in Jan: Thornton

Private equity deals in India witnessed a strong growth momentum in the very first month of this year and almost quadrupled to $1.24 billion, from its year ago period, says a study. According to global consultancy firm Grant Thornton, the total value of private equity transactions and qualified institutional placement (QIP) deals amounted to $1.24 billion in January 2010, against $309 million in the year ago period, registering an over four-fold jump. Upturn was also witnessed in terms of the number of deals recorded in this month. In January this year 29 PE and QIP transactions were posted, against 16 deals registered in same period in 2009, the report added. […]

Sahara to pay Rs1,120 cr to Siva Ventures by Mar

Maverick investor C. Sivasankaran has completed the first leg of yet another profitable exit, with the Sahara group repaying around Rs1,680 crore to Siva Ventures Ltd even as it has to repay an additional Rs1,120 crore by March if it wants to regain complete control over Aamby Valley Ltd, which has built an eponymous luxury township spread over 10,600 acres an hour’s drive from Mumbai. Sahara India Commercial Corp. Ltd, a housing subsidiary of the group, owns 51% stake in the project. The group had sold 49% stake of Aamby Valley City to Siva Ventures in 2007 with an arrangement to buy back the stake in three years at a pre-determined price. Siva Ventures bought this stake for Rs1,000 crore. In addition to that, it has lent Rs1,200 crore to Aamby Valley. […]