May 2010
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Schools turn smart to woo PEs

When Chennai-based Everonn Education begins setting up international schools in the country next year, it plans to do so as a private limited entity under Section 25 of the Companies Act, 1956, and not as a trust. The reason: The company sees this as an alternative way of having a scalable model (which the trust structure does not allow as its bars payment of dividends). Increasingly, educational institutions in the country are taking innovative routes to expand. For example, schools that cannot go for the Section 25 option have begun turning to “smart equity” from private equity (PE) players to expand access to new technologies, build new set of services and add resources. This explains the $22-million (100 crore) deal that Reliance Equity Advisors — Reliance Capital’s PE arm — struck with Pathway World School recently. The stake acquired was, however, not disclosed. […]

At $500 million a month, PE deals may touch $10 biliion in 2010

Dealmaking is back in the private equity and venture capital circles with the economic recovery taking hold. After a pretty subdued 2008 and 2009, PE deals have breached $500 million mark every month since February, according to VCCEdge, the financial research platform of VCCircle. The gestation period for deals which doubled to 6-9 months, rising even up to a year in fiscal 2009, has also come down and deals in various stages of due diligence are finally seeing closures. Bharat Banka, MD & CEO, Aditya Birla Capital Advisors, said, “With the exception of any unanticipated shocks in the economy such as extremely weak monsoon or external shocks such as oil prices, the investment interest is expected to remain robust.” […]

NDTV calls off stake sale deal with US based Scripps

New Delhi Television Ltd (NDTV) said that it has decided to call off its deal with US based Scripps Networks Interactive Inc. ‘The NDTV Group has decided to exercise its right to terminate the definitive agreements and is in the process of terminating them,’ a company statement said. In November, both the parties had entered into a deal where Scripps had agreed to pay 55 million dollars for acquiring a 69 per cent stake in NDTV Lifestyle. […]

Ajmera Realty to acquire 36% stake in Ultra Tech Property

Ajmera Realty & Infra India today announced that its investment committee has approved the proposal to invest in Ultra Tech Property Developers (P) to acquire the 36% equity shares. The aforesaid decesion is subject to such approvals, consent, sanctions and permissions of the appropriate authorities. Ultra Tech Property Developers (P) is holding a Leasehold right of 604.50 square meters in Kalina, Santacruz (East). The plot is adjacent to BKC and is having potential of development of approx 40,000 Sq. Ft. […]