|
|
While 2009 was a year of caution for most private equity investment firms, 2010 is looking optimistic especially for the logistics sector, which expects to seal many a deals this year.As 2009 ended with a big-ticket private equity investment of Blackstone putting $245 million in Gateway Rail Freight, Indian logistics industry left behind the cautious approach and braced 2010 with optimism. Industry expectations are high, to touch a target of 10-12 private equity deals and investments close to $400 million this year, like the buoyant year of 2008 as against only six deals of 2009. Revival in retail and manufacturing is expected to give a boost to sector specific logistics players. But the fragmented nature of the $10 billion Indian logistics industry, growing at 10 per cent and improving valuations of businesses, will make mergers and acquisitions also a game changer, especially in road and rail transportation. […]
When the promotor family of retail chain Nilgiris dragged the private equity (PE) investor, Actis, to the Company Law Board (CLB), it was the culmination of a dispute that had been simmering for nearly two years. The differences related to many aspects of the business, starting with the pace of expansion to the kind of merchandise the stores should sell. Nilgiris, present in South India for close to 100 years, divested 65 per cent to the UK-based fund for $65 million nearly three years ago. This was after bitter differences among the family members on whether a PE investor should come on board. The story of Indian family businesses running into trouble with their PE investors is not new. Industry watchers say that while no specific reason can be given, these tensions are inherent in the difference between the way traditional families run businesses and the approach of global PE investors, who have their own systems and procedures. […]
INDIA is investing US$1.35 billion (S$1.9 billion) in gas projects in military-ruled Myanmar, the two governments have announced, as the neighbouring nations pursue closer economic and diplomatic ties. India's Oil and Natural Gas Corp (ONGC) and Gas Authority of India Ltd (Gail) will spend US$1.1 billion on rights to develop two gas field blocks and US$250 million on a connecting pipeline, India's energy ministry said in a statement.The other US$250-million investment gives India a 12.5-per cent stake in a US$2-billion pipeline being built by China National Petroleum Corp (CNPC), China's top oil producer. The first gas is expected in early 2013. ONGC will spend US$167.8 million while Gail will invest US$83.8 million in the 771-kilometre (480-mile) pipeline which will transport gas from the two blocks off the Myanmar coast to China. […]
Telecommunication Consultants of India Ltd., or TCIL, Wednesday invited expressions of interest for the sale of its entire 30% stake in Bharti Hexacom Ltd. through an open bidding process. The rest of Bharti Hexacom is owned by Bharti Airtel Ltd. (532454.BY), which will get first right of refusal, said TCIL. Bharti Hexacom provides telephony and related services in the Rajasthan state and in India's north-east region as well. […]
Career Launcher India Ltd., a Delhi-based education service provider, has invested $1 million (Rs 4.5 crore) in 361 Degree Minds Consulting Pvt Ltd., a Chennai-based research and technology company, to provide large-scale innovative and inventive solutions in the education and training system. The founders of 361 Degree Minds, C. P. Gopinathan and P. Rammohan, said it was the first round of funding from Career Launcher. Another $1 to $2 million was expected to come in the second round after six months. On the whole, Mr. Gopinathan said Career Launcher had taken only a significant minority stake in 361 Degree Minds. However, the founders did not reveal the exact stake taken by company due to non-disclosure agreement. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|