|
|
Career Launcher India Ltd., a Delhi-based education service provider, has invested $1 million (Rs 4.5 crore) in 361 Degree Minds Consulting Pvt Ltd., a Chennai-based research and technology company, to provide large-scale innovative and inventive solutions in the education and training system. The founders of 361 Degree Minds, C. P. Gopinathan and P. Rammohan, said it was the first round of funding from Career Launcher. Another $1 to $2 million was expected to come in the second round after six months. On the whole, Mr. Gopinathan said Career Launcher had taken only a significant minority stake in 361 Degree Minds. However, the founders did not reveal the exact stake taken by company due to non-disclosure agreement. […]
Bharti Airtel on Thursday held out the possibility of issuing fresh shares or divesting its holding in telecom infrastructurecompanies to lighten the burden of debt it must assume to fund its planned acquisition of most of the African operations of Kuwait’s Zain Telecom. Top executives at India’s largest mobile phone firm told analysts in a conference call that the purchase would be funded by medium-term debt — loans with maturity period between 1 and 10 years — which will then be repaid with money generated from operations as well as a likely equity issuance. A final deal is expected to be clinched by end-April or mid-May. “If we close the deal with full debt, it will still be at a sensible level. But we are debt-averse and will use a combination of free cash flow and equity to repay debt. […]
The government has offered a 10-per cent stake in the upcoming Paradip refinery of state-run Indian Oil Corp to Saudi Aramco for about $650 million, a government official told reporters on Thursday. The official, who did not wish to be a named, said Indian firms currently buy 25 million tonnes of crude oil annually from Saudi Aramco. “Historically, the Saudis have been interested in investing in refineries and distribution, but distribution at the moment in India is not viable (due to government-regulated fuel prices),” he said. India has recently sent a proposal offering stake in IOC's 300,000 barrels-per-day (bpd) coastal refinery in eastern India and the discussions would continue during Prime Minister Manmohan Singh's visit to Saudi Arabia from February 27, the official said. […]
Religare Enterprises Ltd., the Indian financial services company owned by billionaire Malvinder Singh, said it may invest as much as $1 billion buying stakes in asset management companies worldwide. Religare agreed to buy a majority stake in Northgate Capital LLC, a private equity and venture capital firm that manages about $3 billion in assets and has offices in San Francisco and London, the New Delhi-based company said in a statement distributed by PRNewswire. Religare, controlled by the former owners of Ranbaxy Laboratories Ltd., set up its own mutual fund business in 2008 and bought Hichens, Harrison & Co., London’s oldest firm of stockbrokers, in the same year. The money manager has said it plans to open 100 branches in the first three years of operation. […]
India Inc has made a significant foray into Brazil, the largest sugar producer in the world. Shree Renuka Sugars Limited (SRSL) has entered into a definitive agreement with Grupo Equipav of Brazil for an investment of USD 329 million (around Rs 1,530 crore) leading to a majority, controlling equity stake in Equipav S.A. ACUCAR, one of the largest sugar/ethanol companies in that country. The company consists of two very large and modern sugar/ethanol mills with integrated co-generation facilities in Sao Paulo state in Southeast Brazil having a combined cane crushing capacity of 10.5 million tons of cane per annum (44,400tcd). In addition, Equipav has a co-generation capacity of 203 MW. The mills will be expanded to a combined capacity of 12.0 million tonnes (56,600 tcd) per annum and 295 MW with a capital expenditure of $218 million. […]
State-owned NMDC is set to pick up 50% stake in the Ferrous Resources Ltd’s Brazilian operations for $2.5 billion, marking the first overseas foray by India’s largest mining company. NMDC has signed the non-disclosure agreement with the Ferrous group, a multinational consolidator of iron ore with properties in several countries, such as the US, Brazil and Canada, said two senior executives familiar with the development. Under the proposed deal, the Ferrous group will issue fresh shares worth $2.5 billion to NMDC over the next few years. The funds will be used for developing mines and building infrastructure, said a senior executive who was part of the negotiations. […]
Anil Ambani-led Reliance MediaWorks on Sunday made a public offer to buy an additional 52.48% stake in the multiplex chain operator Fame India for about Rs 180.14 crore, countering an existing takeover bid by rival Inox Leisure. Recently, Inox Leisure had signed an agreement to acquire 43.28% promoter’s stake in Fame India and earlier this month made an open offer to buy another 20% stake, at a price of Rs 51 per share. At present, three Anil Ambani group firms — Reliance MediaWorks, Reliance Capital Partners and Reliance Capital — together hold about 10.26% stake in Fame. In a public notice, Reliance MediaWorks said it would make an open offer to acquire 52.48% in Fame India. Sources said the decision to make the open offer was made at a board level meeting held on Saturday. […]
QInvest, Qatar's largest investment bank, will buy a 25 percent stake in Mumbai-based Ambit Group for an undisclosed amount, the company said. The deal, the company's first investment in India, will help Ambit expand its investment banking, advisory and private wealth businesses, the statement said. The investment “will dramatically accelerate QInvest's ambitions in India, one of the world's fastest growing economies,” QInvest CEO Shahzad Shahbaz said in the statement. “We see significant opportunities for our clients and ourselves across investment management, investment banking, private equity and brokerage,” he added. […]
Air Works Engineering, India`s leading provider of aviation services has acquired 85% stake in Air Livery, UK. With an annual turnover of Rs 1.35 billion, Air Livery is Europe`s leading aircraft refinishing company. The acquisition adds significantly to both the revenue and profitability of Air Works. Air Works has constantly been focusing on adding accreditations and services to make the company a one-stop shop for all aircraft maintenance work. Air Works recently became the first Indian independent airframe MRO Company to be awarded the EASA repairs station approval. By adding a whole new section of painting and refurbishment services through this acquisition, Air Works marks another significant milestone for the Indian MRO industry. […]
The Indian government will help Bharti Airtel Ltd. in its bid to buy most of the African assets of Kuwait's Mobile Telecommunications Co., or Zain, if the Indian mobile-phone operator seeks any assistance, the federal corporate affairs minister said Wednesday. Bharti Airtel, India's largest mobile-phone company by subscribers, though hasn't approached the corporate affairs ministry for any help, Salman Khurshid told reporters on the sidelines of an industry conference. He also said that there aren't any apparent policy issues in the Bharti-Zain Deal as of now. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|