|
Software company IQMS today said it will acquire 51 per cent stake in Object Xperts Inc, USA. IQMS said it already has a strategic alliance with Object Xperts. US-based Object Xperts specialises in IT solutions, Information Systems Consulting, Information Technology Outsourcing and Business Process Outsourcing. Object Xperts also has numerous Offsite and Offshore projects for leading corporations in the US. (ET) […] Tata plans to buy a stake in a high-tech unit of Germany's Deutsche Telekom which would see thousands of jobs outsourced, according to a German weekly newsmagazine. In a report in its upcoming issue on Monday, Focus said the Indian group — specialising in high-tech, automobiles and steel — was on the verge of acquiring the systems integration business of Deutsche Telekom unit T-Systems. It said there were only a few final legal issues to resolve. The Deutsche Telekom unit employs about 13,000 IT specialists. Focus said about half of those jobs would now be sent to India. A Deutsche Telekom spokesman declined to comment.(AFP) […] RFCL, a former Ranbaxy group-promoted specialty chemicals company which was acquired by ICICI Venture, has bought Chennai-based Alved Pharma & Foods, a three–decade-old manufacturer of animal health products. Alved is a market leader in south India with institutional sales and exports to West Asia and African countries. The company expects its sales revenues to touch Rs 18 crore in 2007-08. Sources said the transaction is valued at Rs 20-30 crore. Vetnex, the veterinary business division of RFCL, is valued at Rs 90 crore. The combined entity will have a turnover of over Rs 105 crore to become one of the top three players in animal health business in India. […] India Inc feels the impact of global M&As Dutch brewer Heineken is set to buy UK-based Scottish & Newcastle’s (S&N) 37.49 per cent stake in Vijay Mallya’s United Breweries. This is part of a worldwide deal under which S&N’s global operations will be jointly acquired by Danish beer giant Carlsberg and Heineken for $15.4 billion. Under an agreement reached by three companies involved in the deal, Heineken will take over S&N’s India operations. Vijay Mallya holds 37.49 per cent in UB. The company's shareholder pattern consists of 74.98 per cent of promoter group holdings (37.49 per cent each by Mallya and S&N), 16.15 per cent foreign institutional investors, 6.55 per cent individuals and 2.32 per cent others. UB’s share price on the Bombay Stock Exchange rose 6.82 per cent from Rs 289.50 to Rs 309.25 as the falling stock market bounced back. However, Heineken may not be required to make an open offer. According to Securities and Exchange Board of India rules, the open offer will be triggered only if a single shareholder acquires more than 14.99 per cent. […] The Mumbai-based Welspun group is believed to be in talks to acquire Remi Metals Gujarat, an integrated steel and seamless pipe maker, from the Saraf family. Sources close to the development said the proposed acquisition fits into the scheme of $1-billion Welspun group, which is a market leader in the pipe business. They said Welspun is also in the process of finalising plans to market pipes of Remi Metals to which it supplies DRI (direct reduced iron) or crude steel even before the acquisition. Officials at both the companies confirmed the plans to market finished products of Remi by Welspun. On the proposed acquisition of Remi, an official at Welspun said: “We keep on looking at growth opportunities in all our verticals of businesses across the globe.” A Remi Metals executive said, “It is not correct at the moment.” […] The New York-based BlackRock — the largest quoted asset management company in the world, managing assets in excess of $1.3 trillion — will acquire a 40 per cent stake in DSP Merrill Lynch Fund Managers. DSP Merrill Lynch Fund Managers will be renamed ‘DSP BlackRock Investment Managers’, while DSP Merrill Lynch Mutual Fund will be renamed, ‘DSP BlackRock Mutual Fund’. The DSP Group is owned by Hemendra Kothari and has a track record of over 140 years. Through its investment companies, the DSP Group will continue to retain its existing 60 per cent stake in the joint venture. Addressing a press conference here, Mr. Kothari, Chairman, DSP Merrill Lynch Fund Managers, said, “The participation and involvement of BlackRock will facilitate continuity and enhanced focus on the growth of the joint venture.” […] Entertainment firm Pyramid Saimira Theatre on Thursday said it has acquired UK-based Aurona Technologies for an undisclosed amount. The company said in a filing to the Bombay Stock Exchange that it has acquired a majority stake in the video games and interactive entertainment software company and the new entity would be known as Pyramid Saimira Production Services Ltd. “We are extremely happy to announce this strategic acquisition of Aurona Technologies Ltd. This marks the entry of Pyramid Saimira in the high-growth, high-margin animation and gaming industry,” Pyramid Saimira Group Managing Director P S Saminathan said. The group has access to a huge content library and would be able to cross-exploit the content properties. The acquisition brings not only the existing knowledge and customer base, but also high quality management bandwidth, with international exposure, he added. Aurona Technologies Ltd CEO Santosh Pillai would take over as the Director of the new entity. The company is also planning to enter the European market to cash in on the available potential and achieve synergy. […] Indiabulls is learnt to have acquired DLF's stake in Kenneth Builders and Developers (KBD), which was formed as a 50:50 joint venture by the two companies in 2006. According to sources familiar with the matter, DLF has sold its 50% stake in the company to Indiabulls for about Rs 500 crore. The figure could not be independently confirmed. When contacted, DLF group executive director Rajeev Talwar declined to comment. However, industry sources confirmed the transaction, without disclosing the financial details. “It is a friendly transaction and has been done in the best interest of the stakeholders of both the companies. While DLF has booked a decent premium in the project over the last couple of years, it gives a significant foothold to Indiabulls in Delhi,” he said. At present, KBD has just one ongoing project in a prime South Delhi locality, near Okhla, where it is developing a high-end residential project. The 35.8 acres for the project was awarded to the JV company for Rs 450 crore through a competitive bid by the Delhi Development Authority in early 2006. Subsequently, the JV had bid for 3-4 more projects in Delhi and had also announced plans to bid for commercial and residential projects in other parts of the country. […] Singapore's Parkway Group, which owns one of Asia's largest hospital chains, plans to pick up 50% stake in Mumbai-based Khubchandani Hospitals for Rs 155 crore. Mauritius-based investment holding firm Koncentric Investments will hold the remaining 50% stake in the firm which plans to set up chain of hospitals and healthcare facilities in India. Currently, Khubchandani Hospital has 10,000 equity shares paid up capital. These are held by Dr Prakash Khubchandani who is the MD of the hospital and Mrs Tarana Khubchandani. Khubchandani Hospital was incorporated in May 2006 to set up, acquire and maintain hospitals and associated businesses such as health parks and medical colleges. Parkway will invest through additional issues of 40 lakh shares at a premium of Rs 377.5 per share as against its face value of Rs 10 for the shares. As per the plan, Khubchandani Hospitals intends to set up a $80 million multispecialty hospital in Mumbai soon. The hospital is close to acquiring 10,000 sq feet of land in the city. The construction of the hospital is expected to start by the end of the year and could be completed in three years, sources said. When contacted, Khubchandani Hospital officials declined to comment. […] State Bank of India (SBI), the country’s largest bank, has bought a 91 per cent stake in Global Trade Finance (GTF), a factoring company, for Rs 525 crore. SBI acquired the stake from three of the four promoter shareholders of GTF at a price of Rs 75 per share, according to banking sources. The three promoters who sold their stakes are: Export-Import Bank of India (40 per cent), International Finance Corporation (12.5 per cent), and FIM Bank Malta (38.5 per cent). The fourth promoter, Bank of Maharashtra, has decided to continue holding its 9 per cent stake in GTF. GTF is classified as a systemically important non-banking financial corporation (NBFC). Interestingly, SBI already has a presence in factoring business through its subsidiary, SBI Factors, in which SBI has 54 per cent stake. SBI Factors has an asset base of Rs 1,220 crore as on March 31, 2007. […] |