|
Staples Inc, the largest U.S. office supply chain, plans to buy out its Indian partner Future Group’s stake in its wholesale operations for up to $35 million, a source with direct knowledge of the development said. Staples will acquire 39 percent of its Indian wholesale joint venture from Future Group, which controls India’s largest listed retailer, at 1.5-2 billion rupees, taking its stake to 89 percent, the source said. “The deal will be announced in mid July… the details of […] Private equity firms Blackstone Group and Kohlberg Kravis Roberts & Co (KKR) are discussing a large stake buy in the cement unit of the Shiram Group, the Times of India reports. Shriram EPC, which took controlling stake in Andhra Pradesh-based Sree Jayajothi Cements, plans to raise more than INR400 crore to boost operations. KKR already holds a stake in another Indian producer, Dalmia Cements. Another US private equity Mount Kellett also met with Shriram on the potential investment opportunity […] Karaikal Port Pvt. Ltd., a unit of Indian infrastructure company Marg Ltd., said Wednesday Standard Chartered Private Equity (Mauritius) II Ltd. has bought a minority stake in the company for 1.3 billion rupees ($23 million). A part of the funds will be used to expand the Marg Karaikal Port capacity to 28 million metric tons a year from 21 million tons, Karaikal Port said in a press release. The all-weather, deep-water, multi-commodity port is located between Chennai and Tuticorin ports […] Air Works India Engineering Pvt Ltd has completed stake acquisition in Dubai-based Empire Aviation Group (EAG), EAG’s financial advisor for the deal Alpen Capital (ME) Ltd has said. The strategic acquisition will help Air Works increase its footprint in the Middle East and provide aircraft management services to its Indian customers. Air Works did not disclose the stake. Air Works said the deal was funded through a mix of internal accruals and structured debt finance of Rs120 crore from KKR […] Baring India Private Equity has picked up 5.94% stake in gold finance company Manappuram Finance for an estimated Rs 136 crore. The private equity firm bought about 5 crore shares of Manappuram Finance from the open market, the gold finance company informed the BSE. Shares of the Manappuram Finance today closed at Rs 27.15, up 10.37% on the BSE. At today’s closing price, Baring India picked up stake in Manappuram Finance for about Rs 136 crore. Meanwhile, rating agency Brickwork […] Sony Pictures Television (SPT), an indirect wholly owned subsidiary of Sony Pictures Entertainment Inc, will buy around 32 per cent of the shares of Multi Screen Media Private Limited (MSM) that are owned by Grandway Global Holdings Limited and Atlas Equifin Private Limited. SPT will pay $271 million (about Rs 1,512 crore) in cash to Grandway and Atlas subject to government approvals. While $145 million is likely to be paid by December when the transaction is expected to close, the […] Anil Ambani Group company Reliance Capital is backing a merger deal between Grover Vineyards and smaller rival Valle de Vin to create India’s second largest wine company. The financial services company will join Singapore-based wine investor Ravi Viswanathan as a key stakeholder in the combined entity, Grover Zampa Wines. The merger creates a new challenger to industry leader Sula Vineyards in the still nascent domestic wine market swelling over 1.5 million cases annually. Reliance Capital will have 18% stake […] Tatia has completed the deal by acquiring 25% stake in M/s. Stallion Brands India Private Limited In a release sent to BSE, company said, “Company emphasizing its vision of inorganic growth model and business consolidation has taken a yet another milestone step to enhance its exiting growth model portfolio has completed the deal by acquiring 25% stake in M/s. Stallion Brands India Private Limited. Stallion Brands India Private Limited is in exclusive agreement and license holder with Levis Strauss India […] An Indian private equity fund, floated by a group of former corporate executives, is in advanced talks to raise an additional $50 million from Spanish and US investors, in the midst of tough market conditions. Forum Synergies (India) PE Fund Managers is negotiating with marquee Spanish investor Ram Bhavnani and Madrid-based Orienta Capital for a fresh round of funds that will boost its corpus to $100 million. Other investors expected to participate in this round are family offices and development […] Schrader Bridgeport International Inc of the US has exited Schrader Duncan. Schrader Bridgeport was the majority partner in the listed Indian tyre tube valves and pneumatic products joint venture. JP Goenka group, the junior partner, through one of its outfits Oriental Carbon & Chemicals Ltd (OCCL), has bought out the entire 50 per cent stake of Schrader Bridgeport. As on March 31, 2012, JP Goenka group outfits a total of 24.5 per cent — OCCL held 12.58 per cent and […] |