|
|
Credit Suisse is buying up to 15 percent in Park Hotels for $50-$55 million, two newspapers reported on Monday. Credit Suisse's real estate fund will acquire 10-15 percent in the hotel chain in a structured deal, a business daily said, citing sources close to the development. The deal is expected to be announced on Monday, another paper said, also citing sources close to the development. A spokeswoman for Park said she had no information at this point. A spokeswoman for Credit Suisse declined comment. […]
Dubai International Capital (DIC), the investment arm of Dubai Holding, has bought 2.87 per cent stake in ICICI, India's second largest bank. Dubai International Capital's investment in the Indian bank follows its recent purchase of 3.12 per cent stake in the European Aeronautic Defence and Space Company EADS, the parent company of aircraft manufacturer Airbus. ICICI Bank had assets of USD79 billion at the end of March 31. It raised USD4.9 billion in India's biggest share sale open to domestic and foreign investors in June. […]
New York-headquartered private equity (PE) firm Warburg Pincus, the largest PE investor in India by investments, has made its first buyout deal in the Indian market. This week, it joined hands with Indian tyre industry entrepreneur Yogesh Mahansaria to acquire Israel-based Alliance Tire Company Ltd for $150 million (Rs606 crore). This is the second India-centric buyout deal in less than a month—on 18 June, Blackstone Group, also based in New York, backed a $200 million management buyout of Mumbai-based Intelenet Global Services Pvt. Ltd. Warburg was not available for comment on the deal. […]
The Tata group will pick up to 4.6 per cent stake in Development Credit Bank (DCB) through its newly-formed subsidiary Tata Capital. The board of DCB today approved raising up to Rs 310 crore by issuing preferential shares to five investors, including Tata Capital, at Rs 105 per share. This would form 16.6 per cent of the post-issue capital of the bank. The other investors who will pick up up to 4.6 per cent stake in the Aga Khan Fund for Economic Development (Akfed) promoted bank are UAE-based Al Bateen Investment Co, GRA Finance Corp, Mauritius, DCB Investments, Mauritius and India Capital Opportunities 1, Mauritius. […]
Private sector lender Development Credit Bank plans to sell 16.6 per cent stake to five investors and raise around Rs 3.10 billion, a senior official said on Tuesday. The shares will be issued at Rs 105 each, Managing Director and Chief Executive Officer Gautam Vir said. The investors are Tata Capital Ltd, Al Bateen Investment Co of the United Arab Emirates, GRA Finance Corp, DCB Investments Ltd, Mauritius and India Capital Opportunities 1 Ltd. […]
JM Financial India Fund, a $225 million private equity fund sponsored by JM Financial and Old Lane Partners LP, will invest Rs 40 crore in Spandana, a leading microfinance institution (MFI). Spandana caters primarily to the lower income borrowers located in rural and urban areas. The company operates through its 300-plus branch network in Andhra Pradesh, Karnataka, Maharashtra, Orissa and Tamil Nadu with a client base in excess of 1 million. […]
The International Finance Corporation (IFC), the World Bank Group's private sector arm, will invest Rs 300 crore in Delhi-based Max Healthcare Institute to aid expansion programmes over the next four years. IFC’s investment in Max will include Rs 50 crore of common equity and Rs 250 crore of preferred, cumulative, and redeemable equity. The proposed expansion will add 452 beds to the company’s existing 765-bed capacity. This includes 268 beds in Patparganj hospital, a new 100-bed secondary and tertiary hospital in Dehradun, and a new 84-bed tertiary hospital focussed on obstetrics, gynecology, and pediatrics at Saket, Delhi. […]
A clutch of high-profile investors, led by Lehman Brothers and Holcim Group chairman Thomas Schmidheiny, are together buying a 5% stake in Edelweiss Capital—a leading financial services company in the country—in a pre-IPO placement of equity. Edelweiss Capital is close to signing deals worth $50 million with the global investors, which value the Mumbai-based broking and investment banking group at about $1 billion, according to sources. The valuation is almost on a par with those of top investment bankers such as DSP Merrill Lynch and JM Financial, and is believed to be much higher than that of large domestic brokerage houses such as Motilal Oswal Securities and Sharekhan. […]
John Bissell's export house of 1958 – better known as Fabindia today –has an unusual backer. Former World Bank president James Wolfensohn's private investment fund has picked up 6% stake in the country's marquee Indian ethnic wear company for $11 million. This puts the valuation of Fabindia at around Rs 750 crore. Confirming the move Fabindia director Sunil Chainani said: “We were approached by many investors, however, we were keen to choose an investor who shared our values and vision.'' […]
Private equity firms Blackstone, Saloman Brothers and Goldman Sachs are reportedly eyeing the 49% stake that is up for grabs in PTC India's financial services arm, PTC Financial. The deal is likely to be worth around Rs1.5bn, according to a financial daily. PTC Financial is registered as a Non-Banking Finance Company (NBFC), and is a wholly-owned subsidiary of PTC India. It intends to provide financial services for power generation projects. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|