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Private air-charter service provider Airnetz Aviation plans to raise USD 100 million over the next 2-3 years to fuel its overseas expansion and fund its aircraft acquisition programme, a top company official said. “We have plans to raise USD 100 million to expand our footprint globally and also to fund the acquisition of some aircraft over the next 2-3-years,” Airnetz's Chief Executive Officer Atul Khekade said here on Thursday. “We are in advanced stages of negotiations with investors from India, Singapore and the US to raise these funds. We hope to seal our funding over the next two months,” Khekade said. “It is a mix of both, private equity players and financial institutions,” he said. […]
Hansen Transmissions International NV, the world’s fifth largest gearbox maker owned by Pune-based Suzlon Energy Ltd, is in discussions with Shanthi Gears Ltd to buy a substantial stake in Shanthi Gears, India’s second largest industrial gearbox maker. The Belgium-based firm, controlled by billionaire Tulsi Tanti, is looking at buying between 50% and 100% of chairman P. Subramanian and his family’s stakeholding in the four-decade-old Coimbatore-based company, at around a 30% premium to the market price, a banker familiar with the negotiations said. Based on Wednesday’s stock price of Rs63 per share, Hansen would have to pay Rs67.75 crore at Rs81.90 per share, to purchase half of the 45% stake in Shanthi owned by the chairman and his family. […]
30 ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is believed to be close to make a $2.5 billion bid to takeover Russia-focused oil company Imperial Energy. OVL is at an advanced stage of takeover talks with London-listed Imperial Energy and may make a price offer soon, bankers associated with the deal said. A relatively small British oil and gas company based in Leeds in UK, Imperial has said that it has received an “approach”, which could result in an offer for the business. ONGC Chairman and Managing Director and OVL Chairman R.S. Sharma declined to comment on the transaction, while OVL Managing Director R.S. Butola could not be immediately reached. […]
Bangalore-based realty developer Nitesh Estates plans to raise $100 million (Rs420 crore) from private equity firms in the next six months to fund its projects and enter new markets. This is the firm’s second round of fund raising. It has raised more than $250 million from Citigroup Inc. and $51 million from US-based hedge fund Och-ziff Capital Management Group in the past 12 months. “We will raise money in the holding company and enter new markets such as Pune, Kolkata and Hyderabad,” said managing director Nitesh Shetty. Last year, Nitesh Estates tied up with Citigroup to build shopping malls worth around $300 million in three-four year across southern India—in cities including Chennai, Thiruvananthapuram, Kochi and Bangalore. Citigroup has earlier partnered Nitesh for the Ritz-Carlton hotel project in Bangalore, and the two have another five-star hotel project in the pipeline, Shetty said. The company has now also floated its own construction subsidiary, Nisco Ventures. […]
AFL Logistics is considering sale of up to 25% stake to private equity (PE) investors, according to its CMD Cyrus Guzder. “Indian logistics business is growing at over 8% year-on-year. It needs the backing and support of the private equity firms. The idea of the proposed dilution of equity by a fourth to PE investors is to capture more opportunities,” Mr Guzder told ET. The proposed investment of PE players may be followed by an initial public offering, if the market conditions improve, he said. He and his associates own 100% stake in AFL. The logistics industry has become a hotbed of PE investments. Eight deals have witnessed PE players investing $175 million in the first four months of this fiscal. […]
Anil Ambani group firm Reliance Communications said news reports that it was acquiring the English Premier League club Newcastle United for an estimated 260 million pounds were false and baseless. “The news reports are completely false and baseless. There are no such plans,” Reliance Communications said in a statement. Yesterday, an UK-based tabloid the News of the World had reported that “Newcastle United owner Mike Ashley is in talks with Anil Ambani, the sixth richest man in the world and head of Reliance Communications, India's biggest telecom company”. […]
Bennett, Coleman & Co Ltd (BCCL) has acquired a stake in House of Laptops (India) Pvt Ltd (HOL), the first integrated showroom for laptops in India. HOL is one of the leading laptop retail stores based in Pune, exclusively working in the mobile computing space with state of the art showrooms and the widest range of laptops and accessories. Currently with four showrooms in Pune, HOL has plans to expand nationwide by 2010. Commenting on the tie-up with BCCL Ashwin Pandit, director, House of Laptops (India) said, “HOL aims to make IT simple. The tie-up with BCCL is a milestone for HOL. In coming years, HOL's focus will be on customer satisfaction and service model for which HOL is coming up with service points at six strategic locations in Pune to begin with.” […]
Essar group-owned Aegis BPO today said it will acquire Philippines-based BPO, PeopleSupport, for $250 million (around Rs 1,050 crore) in an all-cash deal. The Mumbai-based BPO, which announced a definitive agreement to merge with the latter through Essar Services (Mauritius), its wholly-owned subsidiary, said the deal is expected to be concluded by the third or fourth quarter. The merger, to be called Aegis PeopleSupport in the Philippines, has been unanimously approved by the boards of the respective companies. When completed, the PeopleSupport buy will become Aegis BPO's 11th acquisition in the last two-and-half years. The company recently acquired the call centre facility of global internet firm AOL in Bangalore for about Rs 120 crore. Under the terms of the current agreement, Aegis BPO will pay PeopleSupport stockholders $12.25 per share in cash. […]
U.S. private equity General Atlantic LLC is in talks to buy a 20 percent stake in Wockhardt Hospitals Ltd in a deal valued between $80 million and $100 million, the Financial Express business daily said on Tuesday. Other private equity firms like Blackstone and Carlyle were also in the race for a stake in the hospital chain, but Wockhardt has started final talks with General Atlantic, the paper said citing an unnamed source. Wockhardt Hospitals, which is promoted by the founders of drugmaker Wockhardt Ltd, has been seeking private equity investments since it axed its 25.1-million share initial public offer in February on poor investor response. […]
Television content provider Balaji Telefilms Ltd. is in talks with a consortium of investors to buy the 25.99 percent stake held by a unit of Rupert Murdoch's Star group, Mint newpaper reported on Tuesday. The stake is owned by Dubai-based Asian Broadcasting FZ-LLC and was bought for 1.23 billion rupees in 2004, the paper said. Balaji will float another joint venture company with these investors to launch a bouquet of regional television channels, the paper said. While Star was “very close” to ending its relationship with Balaji, the formalities were yet to be completed, the paper cited an unnamed official as saying. […]
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