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Thomas Cook Group Plc said it will sell the 77.1% stake it holds in its Indian unit if the company gets an attractive offer, and use the funds to reduce debt. The UK-based tour operator said it has received a number of unsolicited informal expressions of interest from third parties to buy its stake in Thomas Cook (India) Ltd and has decided to start a formal sale process. “If the offers are attractive, we will consider selling our stake […] Bahraini telecommunications company Batelco Group on Wednesday said it was selling its stake in Indian mobile operator S Tel for $174.5 million, just days after India’s top court nullified more than 100 mobile phone licenses. Batelco amassed its 42.7 per cent stake in S Tel less than three years ago. It said it hoped to complete the sale to India’s Sky City Foundation by the end of October. Batelco said it had been considering offloading the S Tel stake since […] PE majors New Silk Route and Bain Capital are holding talks for a $30-million minority investment in Barbeque Nation, a restaurant subsidiary of Sayaji Hotels, said sources familiar with the matter. The two funds were vying for a little over 26% stake in Barbeque Nation Hospitality, which has mandated boutique investment bank o3 Capital for fund raising. The potential deal could value the restaurant chain at over $100 million, or about Rs 500 crore, if the funds agree to […] Elara Capital, the UK-based financial services major with a strong Indian presence, is set to enter the private equity (PE) space. The company is in discussion with a Dubai-based financial major to launch a healthcare fund soon. Elara Capital Plc, a registered foreign institutional investor (FII) in India, manages several funds including Elara India Gateway Fund, domiciled in Luxembourg, and Elara India Opportunities Fund Ltd (EIOF), domiciled in Mauritius. The healthcare fund will have its focus on India, other south-east […] Healthcare service provider Apollo Hospitals and medical technology company Trivitron Healthcare on Monday announced a joint venture for a chain of dental clinics in the high-end and affordable healthcare segments in the country. The joint venture, Alliance Dental Care, is looking to set up 100 clinics across India over the next 18 months of which 5-7 will be luxury dental spas for cosmetic procedures, 40-50 will be dental studios in major metros and the rest affordable dental care centres. Apollo […] Real estate developer Assotech today said it will raise Rs 75 crore from private equity firm Sun-Apollo India Real Estate Fund by selling 49 per cent stake in a housing project in Gurgaon. “We will divest 49 per cent stake in a project to Sun-Apollo to raise Rs 75 crore. This investment is only for a specific group housing project in Gurgaon,” Assotech Managing Director Sanjeev Srivastava told PTI. The National Capital Region-based company is developing the project […] While the SC verdict on 2G licences was a blow to the telecom industry, companies such as Bharti Airtel and Idea Cellular, backed by private equity (PE) players, have benefited. Bharti and Idea have investments from Temasek Holdings and Providence Equity Partners, respectively. The shares of Idea went up 2.7 per cent to close at Rs 95.85 on the Bombay Stock Exchange. Bharti Airtel went up 6.9 per cent to close at Rs 385.95. In many ways, the PE rush […] US private equity firms Carlyle Group and Warburg Pincus took advantage of recent market gains to pare stakes in two financial companies in deals worth $440 million, a sign of investor wariness about the sustainability of the rally. Buyout firms that invested billions of dollars during the market’s boom years before the global financial crisis are widely expected to look for opportunities to cash in their holdings, with more stake sales anticipated in coming months. “We will definitely see more […] After backing SKS Microfinance, Sequoia Capital is now betting on another microfinance player, Bangalore-based urban poor-focused Ujjivan Financial Services, a member of the Grameen Network, Bangladesh. Sequoia Capital on Wednesday said it had participated in the fifth round of equity financing by Ujjivan, and was now the single-largest shareholder, with a stake of around 15.7 per cent. It added it had raised Rs 127.9 crore ($25.5 million). Two new foreign institutional investors (FIIs), FMO (Netherlands Development Finance Company) and WCP […] Au Financiers (India) Pvt. Ltd, a Jaipur-headquartered non-banking financial company (NBFC), is in talks with private equity (PE) investors for a third round of primary funding, said three people familiar with the development. “The company has initiated talks with Warburg Pincus India Pvt. Ltd, Carlyle India Advisors Pvt. Ltd and other investors,” said one of the persons. Ernst and Young Pvt. Ltd has been given the mandate, confirmed the second person. Two of them are directly associated with the company, […] |