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Swiss Lonza eyes stake in India drug firm

Swiss drugs industry supplier Lonza is in talks to buy over 51 percent stake in India's Aptuit Laurus in a deal valued at $77 million to $99 million, the Business Standard reported on Wednesday. (Reuters) […]

PE firms acquire 44% in Asian Genco for $425 mn

A clique of investors, led by Morgan Stanley Infrastructure Partners, has bought a 44% stake in power generation and engineering services firm Asian Genco for $425 million, the biggest private equity transaction in India in almost two years, thus lifting the slowdown’s veil over such big-ticket deals. The deal is also the biggest private equity transaction in the country’s power sector and the first one of over $300 million since 2008. The last PE deal of this size was when Providence Equity Partners invested $428 million in Aditya Birla Telecom in 2008. […]

SBI awaits RBI nod to buy stake in Tata Motors Fin

State Bank of India on Saturday said it is awaiting Reserve Bank of India’s clearance to acquire up to 30 per cent stake in Tata Motors Finance. “We have written to the RBI. We are awaiting a response,” SBI Chairman O P Bhatt told reporters on the sidelines of an event here.SBI is eyeing around 30 per cent stake in the vehicle financing arm of Tata Motors. Acquiring a stake beyond this level would require approval from the government. […]

Size of bids for new IPL teams surprises all

The Sahara group won the bid for IPL franchise Pune on Sunday. Giving reasons for their choice of city, Abhijit Sarkar, corporate communications head at Sahara, told TOI: ‘‘ It’s close to Aamby Valley. We have our business reasons for choosing Pune.” The second bid was for $333.33 million (Rs 1,533 crore) from a consortium of investors under Rendezvous Sports who opted for Kochi as their base camp. […]

Nimbus joins hands with Times group

In a landmark deal, Nimbus Communications Limited joined hands with the Times of India Group on Sunday, wherein The Times Group will acquire a small ownership stake in Nimbus and its associate Company Neo Sports Broadcast Pvt. Ltd. The deal brings two leading media houses of the country together in a long-term relationship where Nimbus and its associate company Neo Sports will leverage the various media vehicles across the Times Group to advertise its sports and broadcasting businesses. […]

Yes Bank to raise USD 80 mn for cleantech fund

New-generation private sector bank, YES Bank, is likely to raise USD 80 million in the first round of fund-raising for its private equity fund focused on clean technology, a top bank official said. “We will be raising USD 80 million in the first phase. The first closure of the cleantech fund is expected within the next two to three months,” Yes Bank’s COO, Alok Rastogi, told PTI here. The bank is partnering private equity firm Global Environment Fund for the cleantech fund, which is targeting a total corpus of USD 200 million. […]

ICICI Venture:Subhiksha stake ‘written off'

Seven months after a corporate debt restructuring (CDR) plan for Subhiksha Trading Services Ltd hit a dead end, ICICI Venture Funds Management Co. Ltd, the main investor in the troubled retailer, considers its investment in the company a “write-off” and is struggling to find buyers for its stake, according to a person familiar with the development. “The investment is already written off in a way. Its equity value has eroded,” this person added, speaking on condition of anonymity. “The firm can’t be revived now.” ICICI Venture holds the largest non-promoter stake in Subhiksha, but a senior executive at a large consulting company said the private equity (PE) firm would not face any loss from writing off its investment. “ICICI Venture rather made (a) profit on (its) investment while selling 10% stake to PremjiInvest […]

DE Shaw looks to buy 49% in Pegasus ARC

New York–based hedge fund DE Shaw will buy a 49% stake in Mumbai-based Pegasus Asset Reconstruction Company, subject to approvals from the government and the Reserve Bank of India (RBI). The offshore fund is in touch with the Bhimjyani family, the promoters of Pegasus, and leading investor Rakesh Jhunjhunwala, who owns a sizeable stake in the stress asset firm. As per the proposal, the foreign fund will buy 23% from the Bhimjyani family and 26% from Mr Jhunjhunwala. Post transaction, which puts the enterprise value of Pegasus at Rs 250 crore, the Bhimjyani family and Mr Jhunjhunwala will hold 50% and 1%, respectively. When contacted, DE Shaw country head Anil Chawla declined to comment. A large equity interest in Pegasus is a strategic fit for DE Shaw as it plans to get into a non-banking finance company (NBFC), said a person familiar with the negotiations. […]

Welspun Gujarat to acquire MSK Projects

Welspun Gujarat has okayed the acquisition of MSK Projects, reports CNBC-TV18. It plans to acquire 75% stake in the latter. The deal size is Rs 400 crore, and this is to be funded entirely through internal accruals. Welspun Infratech, a 100% subsidiary of Welspun Gujarat Stahl Rohren and part of the USD 3 billion Welspun group, has signed an agreement to acquire a majority stake in construction major MSK Projects India. […]

Cafe Coffee Day to get $200 mn pvt equity infusion

Coffee Day Holdings, promoters of Cafe Coffee Day which helped in spreading the coffee bar culture in the country,is set to receive $200 mn from a New York based private equity firm, according to a report in Financial Times. The deal, one of the largest private equity transactions in India in the past year and a half, will give KKR and its partners, Standard Chartered Private Equity and New York-based New Silk Route, exposure to India’s fast-growing coffee house culture, the FT report added. Cafe Coffee day has over 900 coffee bar outlets in the different parts of the country with the rising disposable incomes in urban centres and metros adding to the demand. […]