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PE deals’ valuation surged to $1.8 bn in May: Grant Thornton

The valuation of private equity deals surged significantly in May to USD 1,851 million driven by Qatar Foundation Endowment’s USD 1.26 billion investment in Bharti Airtel.

According to audit and advisory firm Grant Thornton, the total PE deals during May were valued at USD 1,851 million through 31 transactions, as against USD 344 million from 26 deals in May 2012, taking the deal tally during the first five months of the current year to USD 4,395 million.

“Private equity deal […]

Indian Tire maker Apollo in deal to buy Cooper Tire

India-based Apollo Tyres reached a deal this week to buy US tire maker Cooper Tire for about $2.22 billion. The combined entity will be the seventh-largest tire company in the world, with combined 2012 sales of $6.6 billion. The agreement calls for Cooper shareholders to receive $35 per share in cash. The price represents a significant premium over Cooper’s current stock value, which stood at $24.56 a share on June 11. The acquisition is seen as a means for Apollo, […]

Investors no longer keen on buyout funds

Large buyout funds may have problems raising investments, with limited partners, or the individuals and entities that put money into private equity and venture capital funds not keen to invest in those that are involved in transactions worth $1 billion (around Rs.5,500 crore) or more, a study shows. And India, besides China, isn’t as popular as it once was because of the indifferent performance of fund managers here, the study also found. According to Coller Capital’s Global Private Equity Barometer, […]

PE deals remain hot in Indian kitchens

Private equity (PE) investors who want a major pie of the Indian consumption story have found a new investment opportunity–kitchen appliances. The urbanisation of Indian kitchens as a result of the mounting number of nuclear families, as well as multinationals’ entry into the segment, has made the sector a sought-after one for PE funds.

During a week’s span, TTK Prestige, the leading pressure cooker maker in India, has received investments worth $40 million (Rs 300 crore) from global PE investor […]

Goldman Sachs Fund Invests $135 mln in India’s ReNew Power

A private equity fund run by Goldman Sachs has invested $135 million in unlisted Indian wind energy firm ReNew Power Pvt Ltd, making it one of the largest renewable energy investors in India, Reuters reported. (Reuters) – A private equity fund run by Goldman Sachs has invested $135 million in unlisted Indian wind energy firm ReNew Power Pvt Ltd, a company official said, making it one of the largest renewable energy investors in India. The Wall Street bank’s private equity […]

Swiss PE Fund Acquires 51% Stake In Chennai’s Water Engineering Firm

Switzerland-based PE fund Capvent AG has acquired 51 percent stake in Chennai-based water engineering firm MORF India Ltd. for undisclosed sum, reports said. The company said the funds would be utilized for developing new products, brand campaigns and also in the national expansion plans by this year end. MORF India Managing Director M.V. Praveen said the company would utilize the money to take the Kelvinator range of home water purifiers and air purifiers across the country. It may be noted […]

Private equity firm ChrysCapital invests $44 mln in India’s CavinKare

Private equity firm ChrysCapital has invested about $44.01 million in Indian consumer products maker CavinKare, the companies said in a statement late on Monday. The investment will be used to strengthen and expand the brand portfolio of the south India-based consumer products company, CavinKare said, without disclosing further terms of the transaction. JM Financial Ltd was the sole adviser to the transaction, it added Source: Reuters

Warburg sells entire 8.4% stake in Havells

Global equity firm Warburg Pincus has sold its entire 8.35% stake in electrical and power equipment company Havells India for about Rs. 730 crore. The shares were purchased by Vontobel Funds Inc through open market transactions. Seacrest Investment, a Warburg Pincus group company, sold 58.20 lakh shares, amounting to 4.66% stake, of Havells India for Rs. 407.40 crore, on the NSE. Besides, another Warburg Pincus group firm Woodcrest Investment offloaded 46.07 lakh shares, equivalent to 3.69% stake, of the electrical […]

PE investments witness dip during Jan-March

After witnessing a tough 2012, the private equity industry, ended the first three months on 2013 with a thud. Total investments made were worth Rs. 5,228 crore across 66 deals, fall of 56% in value terms compared to the same period last year. When compared to the last three months 2012, the dip was 18% in value terms, says the latest PwC’s MoneyTree India Report with data provided by Venture Intelligence. “This quarter the trend has changed from deal making […]

India Value Fund in advanced talks to buy stake in Spykar

Private equity (PE) investor India Value Fund Advisors is in advanced talks to buy the controlling stake of Avigo Capital Partners and Metmin Investments in financially strained casual-wear company Spykar Lifestyles Pvt. Ltd, according to two people directly involved in the negotiations. Avigo and Metmin jointly hold a 60% stake in Spykar, said one of the two persons. India Value Fund is “doing due diligence and has emerged as the final contender”, he said on condition of anonymity. Once the […]