|
|
World Bank group member International Finance Corporation on Monday said it will invest Rs 55 crore (14 million dollars) in Delhi-based Rockland Hospitals to support its expansion plans. Rockland Hospitals plans to expand its facility in the national capital and set up a 250-bed hospital in Manesar, Haryana. “IFC will provide 10 million dollars through equity investments and another 4 million dollars in convertible preferred shares to Rockland Hospital,” IFC said in a statement. The project will help broaden access to high-quality health care and good administrative and patient care to common people, it added. […]
Bio-technology, film production and education are among the five emerging sectors expected to attract an investment of $8.5 billion from private equity and venture capital funds in the next five years, a study has said. The other key sectors identified by the private equity (PE) and venture capital (VC) funds are clean technologies and logistics, according to the Assocham-Deloitte study. PEs and VCs are shifting to non-IT areas, where regulatory mechanism is disappearing, it said. “VCs and PEs which for long has been choosing IT for investment purposes, have found huge investment opportunities in above listed areas as regulatory regime in them is gradually disappearing,” Assocham President Sajjan Jindal said. […]
Bennett, Coleman & Co Ltd (BCCL) has acquired a stake in House of Laptops (India) Pvt Ltd (HOL), the first integrated showroom for laptops in India. HOL is one of the leading laptop retail stores based in Pune, exclusively working in the mobile computing space with state of the art showrooms and the widest range of laptops and accessories. Currently with four showrooms in Pune, HOL has plans to expand nationwide by 2010. Commenting on the tie-up with BCCL Ashwin Pandit, director, House of Laptops (India) said, “HOL aims to make IT simple. The tie-up with BCCL is a milestone for HOL. In coming years, HOL's focus will be on customer satisfaction and service model for which HOL is coming up with service points at six strategic locations in Pune to begin with.” […]
Essar group-owned Aegis BPO today said it will acquire Philippines-based BPO, PeopleSupport, for $250 million (around Rs 1,050 crore) in an all-cash deal. The Mumbai-based BPO, which announced a definitive agreement to merge with the latter through Essar Services (Mauritius), its wholly-owned subsidiary, said the deal is expected to be concluded by the third or fourth quarter. The merger, to be called Aegis PeopleSupport in the Philippines, has been unanimously approved by the boards of the respective companies. When completed, the PeopleSupport buy will become Aegis BPO's 11th acquisition in the last two-and-half years. The company recently acquired the call centre facility of global internet firm AOL in Bangalore for about Rs 120 crore. Under the terms of the current agreement, Aegis BPO will pay PeopleSupport stockholders $12.25 per share in cash. […]
U.S. private equity General Atlantic LLC is in talks to buy a 20 percent stake in Wockhardt Hospitals Ltd in a deal valued between $80 million and $100 million, the Financial Express business daily said on Tuesday. Other private equity firms like Blackstone and Carlyle were also in the race for a stake in the hospital chain, but Wockhardt has started final talks with General Atlantic, the paper said citing an unnamed source. Wockhardt Hospitals, which is promoted by the founders of drugmaker Wockhardt Ltd, has been seeking private equity investments since it axed its 25.1-million share initial public offer in February on poor investor response. […]
Television content provider Balaji Telefilms Ltd. is in talks with a consortium of investors to buy the 25.99 percent stake held by a unit of Rupert Murdoch's Star group, Mint newpaper reported on Tuesday. The stake is owned by Dubai-based Asian Broadcasting FZ-LLC and was bought for 1.23 billion rupees in 2004, the paper said. Balaji will float another joint venture company with these investors to launch a bouquet of regional television channels, the paper said. While Star was “very close” to ending its relationship with Balaji, the formalities were yet to be completed, the paper cited an unnamed official as saying. […]
STAR India, a unit of News Corp. (NWS), is expected to buy a majority stake in Asianet Entertainment's general entertainment channels, The Economic Times reported, without citing a source. Asianet has two general entertainment channels in the Malayalam language, one in Kannada and one proposed in Telugu, the report said. The deal will be closed once STAR ends its partnership with Balaji Telefilms Ltd. , a local content provider, the report added. Separately, the Mint newspaper reported that Balaji is talking to investors to buy back the 25.99% stake held by STAR in the company. […]
Reserve Bank of India (RBI) has asked the Union finance ministry to prevent foreign investors from side-stepping foreign investment norms by taking recourse to the venture capital (VC) route. With increasing concerns of foreign capital driving up real estate prices, RBI has recommended that foreign venture capital investments (FVCIs) be restricted to nine sectors (investment in other sectors being treated as foreign direct investment). It has suggested that capital market regulator SEBI set up a screening mechanism for all pending and future FVCI proposals. The new set of restrictions will help prevent low capital base, circumvention of takeover guidelines and round-tripping of investments. Out of 58 FVCI applications pending with RBI, 22 are considered to have low capital base. […]
Anil Ambani-led Reliance Communications is looking for a possible takeover of Premier League club Newcastle United for an estimated 260 million pounds, a media report said. “Newcastle United owner Mike Ashley is in talks with Anil Ambani, the sixth richest man in the world and head of Reliance Communications, India's biggest telecom company,” the News of the World reported on Sunday. Newcastle is in the midst of a massive 260-million-pound takeover battle between Asia's two richest companies Reliance Communications and Singapore-based global investment company Profitable Group, it said. […]
Industrialist Anil Ambani has quietly entered the fledgling Indian private equity space. His financial services arm Reliance Capital has launched a wholly-owned subsidiary Reliance Equity Advisors (REAL) to offer the entire bouquet of private equity services. Ramesh Venkat, group CFO of the Anil Dhirubhai Ambani Group (ADAG) has been given the additional responsibility of spearheading REAL. REAL has put in place a 15-member advisory team and received regulatory approval to build an initial corpus of $1 billion. Of this, ADAG will contribute 15-20 per cent while the balance will be mobilised by two linked funds, one based in Mauritius and the other in India. Mr Venkat told ET that REAL has started talking to investors to put together a $1billion fund. “The initial response has been very good. There is good investor appetite for our fund. We expect to close the fund in a few months,” he said. Mr Venkat is a director of REAL. Mr Venkat said the fund will focus on sunrise sectors such as services, logistics, realty and pharma. The ticket size of investment will be $15-100 million. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|