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Carlyle buys 10% stake in Infotech

Private equity giant Carlyle Group has acquired about 10% stake in Infotech Enterprises in a booster deal for India’s mid-tier IT services story.

Carlyle picked up shares through stock exchange transactions on Wednesday, joining another private equity investor General Atlantic Partners, which holds 12.39% stake in Infotech Enterprises. The two investors together control a stake almost equal to 22.82% promoter holding, setting stage for an interesting private equity play in the technology services company with $330 million revenue.


Maxis in talks to sell India unit to Sistema

Malaysia’s Maxis Communications Bhd. has held preliminary discussions with bankers representing Sistema JSFC about the sale of its Indian unit Aircel Ltd. to the Russian firm, the Economic Times reported Wednesday, citing an executive close to Maxis.

The executive said Maxis will “listen to offers in the wake of regulatory and policy uncertainty” in India, according to the report.

Maxis Communications owns 74% of Aircel, with the balance held by India’s Sindya Securities and Investments Pvt. Ltd.

Sistema has an […]

Blackstone eyes biggest realty deal

Blackstone Group is set to acquire 36% ownership in the tenanted office space portfolio of southern developer Embassy Property Developments for about $230 million (Rs 1,300 crore), said bankers close to the transaction. This will be Blackstone’s biggest real estate deal in India, giving it part ownership of more than 12 million sqft office towers housing prominent technology names that drive the outsourcing economy.

Embassy, one of the top business park builders in the country, is demerging the FDI […]

Private equity investments drop 34% in June quarter: Venture Intelligence

Private equity investments dipped 34% in the June quarter compared to the same period last year. PE firms invested $1,848 million acorss 102 deals during the April-June quarter, said PE/VC tracker Venture Intelligence in its latest report. Investments dropped 34% from $2,798 million across 126 transactions in the year-ago period. The largest transaction during the period was Morgan Stanley Infrastructure Partners’ investing Rs 1,200 crore in Continuum Wind Energy, a Singapore-headquartered developer of wind assets in India. Close on the […]

Private equity fund Temasek keen on India, but cautious

India still remains a promising economy for Temasek even though the PE fund’s investment has dropped in the past one year, said Rohit Sipahimalani, co-chief investment officer and head, India, and co-head, the Middle East.

“There’s a lot of uncertainty, but times like these also create opportunities. We will take advantage of the uncertainty, but will remain cautious,” Sipahimalani said.

In January, Temasek picked up a 4.9 per cent stake in Godrej Consumer Products for Rs 685 crore. […]

Staples to buy Future Group’s stake in wholesale JV

Staples Inc, the largest U.S. office supply chain, plans to buy out its Indian partner Future Group’s stake in its wholesale operations for up to $35 million, a source with direct knowledge of the development said. Staples will acquire 39 percent of its Indian wholesale joint venture from Future Group, which controls India’s largest listed retailer, at 1.5-2 billion rupees, taking its stake to 89 percent, the source said. “The deal will be announced in mid July… the details of […]

KKR eyes stake in Sree Jayajothi Cements

Private equity firms Blackstone Group and Kohlberg Kravis Roberts & Co (KKR) are discussing a large stake buy in the cement unit of the Shiram Group, the Times of India reports.

Shriram EPC, which took controlling stake in Andhra Pradesh-based Sree Jayajothi Cements, plans to raise more than INR400 crore to boost operations. KKR already holds a stake in another Indian producer, Dalmia Cements. Another US private equity Mount Kellett also met with Shriram on the potential investment opportunity […]

Standard Chartered PE Buys Stake in Indian Port

Karaikal Port Pvt. Ltd., a unit of Indian infrastructure company Marg Ltd., said Wednesday Standard Chartered Private Equity (Mauritius) II Ltd. has bought a minority stake in the company for 1.3 billion rupees ($23 million). A part of the funds will be used to expand the Marg Karaikal Port capacity to 28 million metric tons a year from 21 million tons, Karaikal Port said in a press release. The all-weather, deep-water, multi-commodity port is located between Chennai and Tuticorin ports […]

Air Works India completes EAG stake deal news

Air Works India Engineering Pvt Ltd has completed stake acquisition in Dubai-based Empire Aviation Group (EAG), EAG’s financial advisor for the deal Alpen Capital (ME) Ltd has said. The strategic acquisition will help Air Works increase its footprint in the Middle East and provide aircraft management services to its Indian customers. Air Works did not disclose the stake. Air Works said the deal was funded through a mix of internal accruals and structured debt finance of Rs120 crore from KKR […]

Baring India PE buys 5.94% stake in Manappuram Finance

Baring India Private Equity has picked up 5.94% stake in gold finance company Manappuram Finance for an estimated Rs 136 crore. The private equity firm bought about 5 crore shares of Manappuram Finance from the open market, the gold finance company informed the BSE. Shares of the Manappuram Finance today closed at Rs 27.15, up 10.37% on the BSE. At today’s closing price, Baring India picked up stake in Manappuram Finance for about Rs 136 crore. Meanwhile, rating agency Brickwork […]