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Baring PE Asia to invest $260 mn in Lafarge India

Baring Private Equity Asia is taking a 14 per cent stake in the India unit of Lafarge SA, the France-based cement-maker. This would be the largest PE investment in the sector here.

Lafarge said it had signed an agreement to raise ^200 million ($260 million or Rs 1,427 crore) through the capital increase subscribed by Baring PE and representing a 14 per cent minority stake in its Indian subsidiary, Lafarge India Pvt Ltd.

In 2010, PE major Kohlberg Kravis Roberts […]

Heineken takes 3.2 percent stake in United Breweries

Heineken NV’s UK unit has acquired a 3.21 percent stake in India’s United Breweries Ltd the Indian alcohol company said on Wednesday, sending its shares up by more than 6 percent. United Breweries, controlled by liquor baron Vijay Mallya, said in a stock exchange filing that Heineken UK Ltd had been allotted the stake formerly held by Scottish & Newcastle India Private Ltd, controlled by Heineken. Source: Reuters

PE deals to see moderate rise: Survey

Private equity players expect a moderate increase in deal activity in India during 2013 with healthcare emerging as the top pick for these investors, a survey said. “Expectations about deal activity in 2013 remain cautious but still positive on the whole. Our interviews suggest that deal activity will see moderate growth in 2013 throughout the industry. The steps taken towards improving India’s legislative framework have made investors a bit more upbeat , and general partners suggest that more deals will […]

TPG Sells Stake in India’s Shriram Transport for $300 Mln

U.S. private equity firm TPG Capital raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to India’s Piramal Group, generating a near seven times return on a 2006 investment. Piramal Enterprises said it bought a 10 percent stake in Shriram Transport through a block deal for about 16.52 billion Indian rupees ($305.21 million), or 723 per share. Ajay Piramal, chairman of Piramal Enterprises, told reporters the stake was […]

Jet-Etihad Deal: Good news for aviation and for economy

The infusion of $379 million by Abu Dhabi-based Etihad Airways in Jet Airways, India’s largest private airline , is good news on multiple counts. The proposed deal is a tangible benefit of the government’s policy reform announced last September easing ownership rules to allow foreign carriers to own up to 49% in local airlines. It signals an overall improvement in the country’s investment climate. The present tie-up comes in the wake of a joint venture between Air Asia and the […]

Actis may exit first realty PE investment in India

Emerging markets-focused Actis Private Equity might soon exit from its first and only real estate investment in India, according to sources. The global PE firm had invested $25 million in early 2008 in a joint venture company floated with Vaishnavi Group to construct a residential and retail property in Bangalore. According to sources, Actis is in active discussions with the promoters to sell back its stake in the venture.

When contacted, Actis said it could not comment. The management of […]

KKR to raise Rs 2,000 crore from wealthy Indian investors and institutions

The local arm of the American private equity biggie, KohlbergKravis Roberts and Co (KKR), will raise Rs 2,000 crore from wealthy Indian investors and institutions. KKR’s alternative investment fund, which has been recently registered with the capital market regulator Sebi, plans to invest the money in mezzanine and structured credit instruments to fund promoters, among other things.

KKR has been funding companies for over three years from its balance sheet capital.

Now, it’s keen to raise a pool […]

Qatar extends buying spree to India with $1.3 billion Bharti deal

Gulf state Qatar has bought a 5 percent stake in Indian telecoms firm Bharti Airtel Ltd for $1.26 billion, the firm said on Friday, extending an overseas buying spree from mainly developed countries to Asia’s third-largest economy. The deal is being channeled through Qatar Foundation Endowment and a source close to QFE said it would be an active investor in Bharti Airtel, securing a board seat at the world’s fourth-biggest mobile phone company by customers. “QFE is in for the […]

Tata Opportunities Fund to buy 5% stake in Tata Sky

Tata Opportunities Fund (TOF) LP – a captive PE fund of the $100 billion salt-to-software conglomerate — is all set to buy a 5% stake in Tata Group’s joint venture DTH company Tata Sky. TOF, which has a corpus of $600 million raised last month, will pay Rs 275 crore ($50 million) for a 5% stake, valuing the loss making JV at $1 billion.

This transaction is also expected to set a benchmark valuation, say industry experts as the […]

Parag Milk to raise $17 million from IFC

IDFC and Motilal Oswal backed Parag Milk Foods Private Limited to raise $17 million from International Finance Corporation (IFC) for its proposed $32.7 million investment. It may be noted, end of last year the company raised $13.9 million from IDFC to support investment, which includes plant for value added products and automation in the existing plants. At present the company has plants in two states Maharastra and Andhra Pradesh.

Parag Milk Foods (Parag), established in 1992, is one of India’s […]