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RREEF, the global alternative investment management business of Deutsche Bank, advised by Deutsche Asset Management (India) Pvt Ltd, has made its first real estate investment in India. RREEF has substantially completed the purchase of an undisclosed stake in Bangalore and Hyderabad-based real estate development company, Golden Gate Properties Ltd, for US$ 70 mn (Rs. 2735 mn). Golden Gate Properties Ltd is an integrated real estate development company involved in primarily residential apartment projects in India. The company has been operating since 1997 and has to date a portfolio of 10 completed projects 8 residential apartment developments and 2 commercial projects in established neighbourhoods within Bangalore and Hyderabad. In addition, Golden Gate is in the process of building 20,000 units across 9 projects, with a built-up area totaling 23 million square feet. It also has plans to build mixed use developments and Special Economic Zones (SEZ) across South India. […]
Chennai-based leading KPO firm, PreMedia Global ( PMG), a publishing and content services provider with facilities in Chennai and the US, has attracted Rs 72 crore private equity investment from JM Financial India fund. JM Financial, a $ 225 Million PE fund will pick up minority stake in PreMedia, with promoters holding the majority stake. PMG has raised the money through a holding firm and the funds will be used for overseas acquisitions and expansion. The JM Financial group teamed up with US-based Old Lane Partners to launch the JM Financial India Fund last year, to invest in unlisted domestic companies, seeking growth capital. So far, the fund has closed four investments in sectors such as auto-components, farm equipments, high-end fashion retail and financial services. This is its first investment in Chennai. […]
Baer Capital Partners on Monday, said that it has successfully arranged a $150-million investment in Vatika Ltd, the flagship company of the Vatika group. This is Baer Capital's single largest transaction to date in the country. The investment was made by Beacon Vatika Holdings Ltd, a Mauritius-domiciled investment company. The largest investor in BVHL is an investment group led by Beacon India Private Equity Fund, which is sponsored by Baer Capital Partners. The other major investor in BVHL will be Goldman Sach, the media reported. BVHL will be represented on the Board of Vatika Ltd by Alok Sama, President and Founder, Baer Capital Partners, and Jean de Pourtales, Managing Director and Head of the Developing Markets Real Estate Principal Investment for Goldman Sachs. BVHL will be jointly managed by Baer Capital and Goldman Sachs. […]
GIC, the investment arm of Singapore government, and JP Morgan are together picking up 21% equity stake in Ballarpur Paper Holdings (BPH), a Dutch step-down subsidiary of paper producer Bilt, in a deal valued at $175 million (Rs 700 crore). With this, BPH, intended to be the holding arm of the entire commodity paper business of Bilt, would be valued at $825 million or around Rs 3,300 crore. Significantly, this would be higher than the current market capitalisation of Bilt, which is valued at Rs 2,640 crore. Besides commodity paper, Bilt has exposure in consumer-focussed retail products and higher value-added paper products. The PE deal for BPH is part of the corporate restructuring plan announced a few months ago where Bilt said it would hive off the commodity paper business in India into a separate wholly-owned subsidiary. This business would raise resources for retiring the debt on the books of Bilt, apart from raising funds required for the capital restructuring programme. […]
In a private equity (PE) deal, the State Bank of India (SBI), the largest public sector bank of the country, has picked up 7.79 per cent equity in the Orissa-based ARSS Infrastructure Projects Limited. The deal was for 10 lakh shares out of the company’s total equity base of 1, 25, 54,000 shares of Rs 10 each. Sources said SBI was keen on acquiring more stakes but the company restricted it to 8 per cent as it intended to go for an initial public offer (IPO) soon. “We are planning to file the Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (Sebi) for the IPO before January 30, 2008,” Sunil Agarwal, Director, ARSS Infrastructure, told Business Standard. He, however, did not disclose the value of the deal with SBI, saying it will affect the company’s forthcoming IPO. […]
ICICI Ventures, the private equity arm of the country's biggest private bank, will partner with the Indian Express Group for its Express Towers property and plans to take a minority stake in the business. “As part of the partnership, ICICI Venture will advise on upgradation and management of the property, and proposes to acquire a minority stake in the property business, and participate in maximising the potential of Express Towers,” a press release from the newspaper group said. The Indian Express Group also plans to demerge its publishing business to unlock value and provide impetus, as also give effect to the partnership. BMR Advisors is acting as the transaction advisor to the media house, the release said. Vivek Goenka, chairman and managing director of the Group, said: “These are exciting times for the Indian Express Group. Our partnership with ICICI Venture is one more step in the resurgence of the Express Group, now celebrating the 75th year of its existence. […]
Tata Teleservices Ltd. has shortlisted five companies including American Tower Corp. and Carlyle Group for selling a stake in its wireless towers unit, the Economic Times reported, citing people it didn't identify. The Indian phone carrier may sell as much as 49 percent of the unit, the newspaper said. Other companies in the race are India's Essar Group, Quipo Telecom Infrastructure and Excel Towers, the newspaper said. A Tata Teleservices spokesman declined to comment, the Economic Times reported. Citigroup Inc. and Lehman Brothers Holdings Inc. are advising Tata on the deal, it said. (Bloomberg) […]
Darby Overseas Investments, the private equity arm of Franklin Templeton Investments and a leading provider of private equity and mezzanine capital in emerging markets, announced that its Darby Asia Mezzanine Fund II (DAMF II) invested Rs 700 million through an affiliate in Bangalore-based Bhoruka Power Corporation. Transaction details were not disclosed. Bhoruka Power Corporation (BPCL) is a company engaged in the development and construction of small hydro-electric and wind energy power generation projects. BPCL has a portfolio of fourteen projects adding up to 91 MW of renewable energy capacity, primarily in Karnataka, with a planned addition of another 111 MW to be commissioned in the next 48 months. […]
Autoindia.com Online Pvt Ltd has received a round of investment from Babu Sivadasan, who was the founding Chief Technology Officer for a few start-up companies, including Stamps.com, and is currently serving as the EVP of Engg, responsible for firm-wide engineering activities at Envestnet Asset Management, the, independent wealth management platform provider for the financial advisory marketplace. The proceeds from this round will be used to continue to strengthen the company’s leadership position and offer better service to its consumers and partners. Sivadasan also joins the Board of Directors of AutoIndia.com, the fastest-growing automotive marketplace for buyers, dealers and private party sellers. This fresh infusion of capital adds to the investments already been made by Silicon Valley entrepreneurs and ensures that the company can execute its long term plans. […]
Mahindra Holidays & Resorts, part of $4 billion Mahindra Group, will offer 1 per cent stake in the company to Jacob Ballas India Fund through a private placement basis for a consideration of around $10.06 million (Rs 39.50 crore). The pre-IPO placement deal values the hospitality arm of automaker Mahindra & Mahindra at around Rs 4,000 crore. The equity shares to be transferred to NYLIM Jacob Ballas India Fund III, LLC, should be subject to lock-in after the Initial Public Offering as per SEBI regulations, Mahindra & Mahindra informed the Bombay Stock Exchange. New York Life Investment Management LLC (NYLIM) has a shareholding in Jacob Ballas Capital India, a non-banking finance company focused on private equity advisory services. […]
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