|
Chennai-based SUN TV Network acquired the Indian Premier League (IPL) Hyderabad franchise on Thursday for a whopping Rs 85.05 crore per year, it was announced here. The franchise has reportedly been acquired for the next five seasons, which makes the total winning bid Rs 425 crore. The franchise, earlier owned by Deccan Chronicle Holdings Ltd (DCHL), was made defunct by the Board of Control for Cricket in India (BCCI) after the owners failed to produce a Rs 100-crore bank guarantee […] Betting big on power business, Adani Enterprises board has approved infusion of additional funds in its subsidiary Adani Power and increase promoters’ stake to 75 percent from 68 percent. “Board of Adani Enterprises has approved, in principle, the proposal to allow additional investment in Adani Power so as to enhance the total promoters’ shareholding up to 75 percent from about 68 percent,” the company said in a release. However, the company did not disclose the amount that would be pumped […] Austria-based Swarovski Group is close to buying a minority stake in domestic jewellery house Tara Jewels, according to two people close to the transaction. This is the first such investment by the luxury and cut crystal products maker in India, which has annual sales of around 3 billion (about Rs 20,400 crore) worldwide. While the exact financials are not available, people quoted above said Swarovski would be picking up a 10-12 % stake in the company, valuing it at around […] Standard Chartered Private Equity has concluded a $32-million (Rs 168 crore) follow-on investment in Varun Beverages International Ltd, the largest bottler for PepsiCo in South Asia. The company plans to use the newly injected funds for the buyout of Pepsi’s minority stake in its subsidiary Varun Beverages Ltd (VBL). Post the buyout, the company’s Indian beverage business will be consolidated into Varun Beverages International, the company said in a statement. Broadening capital base Standard Chartered Private Equity had previously invested […] Panacea Biotec, the Rs 700-crore drug and vaccine major, is betting big on hospitals. The New Delhi-based company is likely to tap private equity funding for expansion. Last year, Panacea had bought 76 per cent stake in Umkal Hospital, Gurgaon, and is developing a 225-bed multi-super specialty hospital here. This facility, set to begin operations by March 2013, is being developed at a cost of Rs 145 crore. Once the hospital, Panacea New Rise Hospital, starts operations, the healthcare major […] After selling a majority stake in his financial services arm, Future Capital, to PE giant Warburg Pincus, Kishore Biyani is getting ready to unlock the value in his general insurance joint venture Future Generali India Insurance Company by selling Pantaloon Retail’s stake to L&T. Founded in 2007, Future Generali is a JV between Future Group and the Generali Group of Italy. The Future Group owns 74 per cent in the company, while the Italian insurer owns 26 per cent. Of […] Home-grown beauty and wellness chain VLCC expects to raise about Rs 250 crore by selling a minority stake to private equity (PE) within the next few weeks to support acquisitions in the south-east Asia, said a company source. The company, which is valued at $400 million, is in advanced talks with a few PE firms in India and abroad for the fund raise. “Funds raise would be used in capital expenditure and to finance acquisitions,” said the source. JM Financial […] US-based investment management firm Invesco is buying 49% in Religare Mutual Fund in a deal that marks the re-entry of a foreign partner into the Indian asset management company. Religare MF was launched as a joint venture between Religare and Aegon, but the Dutch financial services major exited the JV in 2009 by selling its stake to the Indian firm. While announcing the JV on Thursday, officials from Religare MF and Invesco declined to disclose the deal size. However, industry […] Everstone Capital is set to buy about $30 million stake in the seven-decade-old S Chand Group, a leading publisher of textbooks and digital learning, as private equity firms chase deals to transform old family-run companies. Everstone, managing assets worth $1.8 billion, may take around 35% stake in the New Delhi-based publishing business, said people familiar with the matter. The fund will help the third generation family promoters to grow their content through acquisitions and more aggressive bet on digitization, […] Dalmia Continental, which sell olive oil under Leonardo brand, today said it has sold 27% stake in the company to Italian firm Nicola Pantaleo. The company did not disclose the size of the deal. Dalmia Continental Pvt Ltd (DCPL) announced the “conclusion of a joint venture agreement with the Italian company Nicola Pantaleo, S.P.A (Pantaleo). “Pantaleo consequently holds 27 equity in DCPL,” the company said in a statement. When contacted, Dalmia Continental Chairman V N Dalmia said: “Its an strategic […] |