May 2012
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Carborundum Universal to buy out 3M’s stake in joint venture company Wendt India

Carborundum Universal (CUMI), part of Chennai-based Murugappa Group, has reiterated its intention to buy out 3M’s stake in joint venture company Wendt India, which has proved to be a bone of contention between the two for over a year now.

“I think still nothing has moved since last time,” CUMI MD K Srinivasan said in the company’s fourth quarter conference call. “”They have not come back to the table for any discussion or negotiations. And the Company Law Board […]

Jain Irrigation to buy remaining 50% stake in Israeli JV NaanDanJain

The Indian irrigation and sustainable agriculture giant, Jain Irrigation announced today that it has signed an agreement with Kibbutz Naan, to acquire the remaining 50% of the Israel based irrigation solutions Company NaanDanJain, which till now has been equally owned by Jain and Kibbutz Naan. This acquisition realises the call option that Jain Irrigation has held since acquiring the first 50% in 2007. Since signing the first agreement in 2007, NaanDanJain has increased its sales turnover more than 25%. In […]

Logistics firm DTDC buys 53% stake in Eurostar Express

Logistics major DTDC Courier and Cargo has acquired 53% stake in UAE-based Eurostar Express for an undisclosed amount.

“The acquisition allows DTDC to combine its strength with Eurostar and penetrate and consolidate its presence all over the West Asia, including GCC and MENA areas, more comprehensively,” said Suresh Bansal, director and head of international business, DTDC.

DTDC’s move to invest in a global company comes at a time when foreign companies are largely investing in firms in India. […]

India Value Fund Advisors eyes Rs 500 crore stake in Manipal

India Value Fund Advisors (IVFA) may invest up to Rs 500 crore ($100 million ) in Manipal Hospitals, the third-largest domestic healthcare service provider, as the latter holds talks with private equity (PE) firms to accelerate expansion plans.

IVFA, with $1.4 billion in assets under management, is bullish on healthcare and has pursued deals, including buyout opportunities, in the sector. The PE firm may back Manipal to chase buyouts in an industry where many smaller chains and standalone hospitals […]

PE firms target growth sectors via holding firms

Private equity (PE) firms in India are increasingly looking to create holding companies to invest in high-growth sectors such as food and beverage (F&B), agriculture, education and clean-tech. A holding company is typically created to own stakes in other companies, especially by corporate groups running multiple and varied businesses. The revenue of the holding companies is expected to be larger than that of the stand-alone firms in its portfolio, making them more attractive in initial public offerings (IPOs) of shares—the […]

Panasonic acquires 76% stake in Firepro Systems

Japan’s largest electronics company, Panasonic announced plans to acquire 76.2% stake in Firepro Systems, a Bangalore-based company in infrastructure protection and security solutions such as fire alarm, fire suppression, video surveillance and building management.

Panasonic has also decided to enter into a definitive agreement for subscription of new shares through its wholly-owned subsidiary, Anchor Electricals. Panasonic will acquire a portion of Firepro’s ordinary shares owned by financial investors, while Anchor will invest in Firepro through a fresh issue of […]

Capital international PE closes Rs 16,140-crore fund

Emerging market focused private equity fund, Capital International Private Equity Funds (CIPEF ), which is managed by Capital International, announced the final close of its $3-billion (Rs 16,140 crore) Capital International Private Equity Fund VI (CIPEF VI). According to the Emerging Markets Private Equity Association (EMPEA), CIPEF VI, is the largest global emerging markets private equity fund closed in the last five years. Capital International, part of the Capital Group Companies, is an institutional investment manager and has been investing […]

Bharti may buy 26% in Qualcomm venture, get a leg-up in BWA space

US telecom giant Qualcomm Inc will rope in an operator as partner, who would initially pick up the 26 per cent stake held by Tulip Telecom and GTL Group in its India broadband wireless access (BWA) venture. The two hold 13 per cent each in the venture. Talks with Bharti Airtel as the new partner, in their final stages, are expected to be completed soon as the US company received BWA spectrum in four circles yesterday after more than 18 […]