October 2010
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Tata Motors acquires 80% stake in Trilix Srl., Italy

Tata Motors has acquired 80% stake in Trilix Srl., Turin (Italy), a design and engineering company, for a consideration of €1.85 million. The remaining 20% stake is equally held by its promoters, Mr. Bryn Jones, Mr. Federico Muzio and Mr. Justyn Norek. The acquisition is in line with the company’s objective to enhance its styling/design capabilities to global standards. Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility, detailed engineering development. […]

October 5th, 2010

PE investments more than double in Sept quarter

Private equity (PE) firms invested about $2,047 million across 88 deals during the quarter ended September 2010, according to a study by Venture Intelligence, a Chennai-based research firm focused on private equity and M&A transaction activity in India. This takes the total PE investments in 2010 to $6,566 million across 231 deals, more than twice the $2,502 million invested (179 deals) during the same period in 2009. These numbers do not include PE investments in real estate. The amount invested during the third quarter of 2010 was little over twice that during the same period last year, when around $976 million was invested across 65 deals, but lower than the $2,364 million across 71 deals in the immediate previous quarter. “For the first time since the first quarter of 2009, the amount invested by PE firms has dipped when compared to the immediate previous quarter,” said Arun Natarajan, managing director and chief executive officer of Venture Intelligence. […]

October 5th, 2010

Private Equity funds turn to debt

KKR signs 2 debt deals, while ICICI Ventures’ mezzanine funds invest in 3 deals. Private equity (PE) firms operating in India are putting fingers in the debt pie for the first time. Global funds, with mandates for both equity and debt, have started extending debt to Indian companies. The latest to do so is Kohlberg Kravis Roberts & Company (KKR) private equity. The US-based PE firm has started investing in debt from its special situations fund and is lending from its global non-bank financing arm (NBFC). ICICI Venture Fund and SBI Macquarie are also using mezzanine funds for extending corporate debt. The advantage is that PE funds can follow this up with an equity funding. By then, they can raise the company’s valuation and build a better relationship with the promoters. […]

October 5th, 2010

BT Group may sell stake in India's Tech Mahindra

U.K. telecommunications company BT Group PLC has restarted discussions to sell its 30.83% stake in Indian software company Tech Mahindra Ltd., the Economic Times newspaper reported Tuesday, citing two people familiar with the talks. The British company has attracted interest from private equity firms Providence Equity Partners, Apax Partners and Goldman Sachs Private Equity Group, the report cited the people as saying. A potential deal for BT's stake in Tech Mahindra would also involve the telecom company's stake in Satyam Computer Services Ltd., the report said, adding that BT was waiting for a clearer picture on the fraud-hit company's financials before proceeding with the stake sale process. […]

October 5th, 2010