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Sintex Industries Limited announced that it's wholly owned subsidiary, Sintex Infra Projects Limited (“SIPL”) has signed a definitive agreement with Durha Constructions Private Limited (“DCPL” or “the Company”) to acquire 30% ownership of the Company. As a part of the agreement that is inked with the current owners of DCPL, Sintex will be able to acquire majority ownership of the Company on pre-agreed terms on closing of current financial year, FY'2011. The primary businesses of Sintex are building products, custom moldings and textiles. This investment shall help Sintex to grow and strengthen its monolithic and prefab business and also building an active presence in the Infrastructure sector, particularly the Engineering, Procurement and Construction (EPC) business that throws tremendous opportunities with robust growth In Indian economy. […]
dia's second largest state-owned bank after State Bank, Punjab National Bank (PNB), has acquired a majority 63.64 per cent stake in JSC Dana Bank Kazakhstan for 3.5 billion tenge (around Rs 106.8 crore / $23.765 million). PNB acquired 35 million shares of 1,000 tenge each, at par, for 3.5 billion tenge, thereby also raising the capital of JSC Dana Bank to 5.5 billion tenge from the existing 2 billion tenge, PNB said in a filing with the Bombay Stock Exchange (BSE). JSC Dana Bank has convened a general body meeting of shareholders, scheduled to be held in Almaty on 15 December 2010. The meeting is expected to approve the transaction. […]
It is one big stable of familiar household brands marrying another set of popular over-the-counter trademarks. UK-based Reckitt Benckiser (RB), the company behind brands such as Dettol, Clearsil, Durex and Disprin, said on Monday it would acquire Ahmedabad-based Paras Pharmaceuticals, which owns medicine brands such as Moov, Krack and D’Cold, in a R3,620-crore deal. Privately-held Paras is valued at eight times its net sales of R401 crore in 2009-10 in the deal that would give a gain of more than Rs 1,000 crore to the founding Patel family. Elite suitors including Emami, Dabur, Piramal Healthcare, Pfizer, GlaxoSmithkline, Merck, Abott and Sanofi Aventis were in the race to acquire Paras before RB won its hand. […]
As scams and controversies loom over the real estate sector, private equity (PE) investors are consolidating investments and opting for tranche-based investments. While most of the equity level deals have been put in the deep freezer, deals at project levels through creating special purpose vehicle (SPV), are being evaluated. In most of the cases, the PE players are dishing out new checks and balances to secure them against any risks, say industry trackers. “With respect to return structures, PE investors are presently biased towards a structured debt model which has some form of capital protection with an assured IRR (internal rate of return) and in some cases, an additional equity kicker,” said Avinash Gupta, head, financial advisory, Deloitte (India). […]
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