|
|
PE firms invested about $3.3 billion in the first three months of this year, $0.6 billion more than in the same period last year, according to a study by Venture Intelligence, a research service focused on PE and venture capital. “Last year, PEs competed with the public markets for investments. If the competition for public markets slows down, then more deals will get done among companies that see PE as an alternative to raising money from the markets,” said Venture Intelligence founder & CEO Arun Natarajan. Mr Natarajan added that the choppy market conditions would not be conducive for Pre-IPO and PIPE (private investment in public equity) deals in the medium term. Also, the spurt in deals in the late stage segment account for 60% of the amount invested during Q1 2008. The amount invested during the quarter was higher than that during the same period last year (which witnessed 101 deals totaling $2.7 billion) but lower compared to the immediate previous quarter (which witnessed 131 deals totaling $5 billion). […]
Jubilant Organosys Ltd said on Friday it plans to buy Canada's Draxis Health for about $255 million as it seeks entry into North America's key radiopharmaceutical sector. Jubilant said it would pay $6.00 a share for all the outstanding shares of the specialty health-care company. Draxis's board has approved the transaction and recommends that shareholders accept the offer. “Draxis represents a unique opportunity in the North American market, offering Jubilant entry into the attractive, regulated, high-growth and high-margin radiopharmaceutical business,” Jubilant said in a release. “It also enables Jubilant to consolidate its position in the sterile and non-sterile contract manufacturing business.” The two key platforms at Quebec-based Draxis are its Draximage radiopharmaceutical division and its contract manufacturing business. Competition in the nuclear isotope business was ratcheted up recently after a U.S. company bought a similar operation from Bristol Myers Squibb. […]
Vijay Mallya`s United Spirits (USL) might acquire a minority stake in Bacardi, which will enable Bacardi to pursue acquisition opportunities in India, reports Economic Times. Bacardi has revealed that the company will be interested in USL`s potential move for private placement of treasury stocks with a strategic partner, although currently nothing is at work with USL. Bacardi is looking at inorganic growth opportunities provided it is profitable and carries distribution muscle. Earlier this year, Mallya had received unsolicited interests from several suitors for buying a small stake in USL. In January, UK-based spirit giant Diageo, makers of Johnnie Walker whiskies and Smirnoff vodka, had held talks with USL for acquiring the company`s stakes. […]
Dr Reddy’s Labs has announced the purchase of Jet Generici Sri, an Italian generics company, for an undisclosed sum. The deal is believed to give Dr Reddy’s a greater generics play in the Euro570-million Italian pharma market. Just a month back, the company also entered into a drug discovery collaboration with 7TM Pharma. Jet Generici, which recorded revenue of Euro 1.5 million, brings to the table frontline capabilities with its 20-strong sales force, over 20 products and a pipeline of registerations in the local market. The deal has been completed through Dr Reddy’s Italian subsidiary Reddy Pharma Italia SpA, engaged in building pipeline registerations. […]
After aborting its Initial Public Offer in February, Wockhardt Hospitals on Sunday said it is looking at raising funds through private equity. “We are looking at raising funds through private equity. We are going through the process,” Wockhardt Hospitals' CEO Vishal Bali said. Wockhardt Hospitals was looking at raising Rs 800 crore through the IPO to repay debt and fund its expansion plans that included setting up 17 new hospitals by 2010. But its IPO received poor response and was withdrawn. Its IPO was the second this calendar year to be withdrawn, the The first one being that of real estate player Emaar MGF. […]
Huasheng Co. Ltd, a unit of Chinese dyestuff manufacturer Zhejiang Longsheng Group, has acquired 7.46% equity stake in Kiri Dyes and Chemicals Ltd (KDCL), one of country’s leading manufacturer and exporters of dyes and dyes intermediates. Huasheng has purchased 1.1 million shares in Kiri at Rs 115 per share. KDCL has recently closed its initial public offering of 37.5 lakh equity shares of face value of Rs 10 each. Ahmedabad-based, Kiri Dyes, one of the top 10 producers of reactive dyes globally in terms of volume and quality, is an Ahmedabad based company. The company has been in the business of manufacturing Reactive Dyes for past 9 years. The product range of company caters to textiles, leather, paint and printing-ink industries. […]
The oldest stockbroker in the city of London has become the latest British institution to be acquired by an Indian company, snapped up in a 55 million pounds ($100 million) deal by a Delhi-based brokerage firm. Hichens Harrison, which has been trading for 205 years, was taken over Friday by Religare Enterprises, which is controlled by Malvinder and Shivinder Mohan Singh, owners of the drug company Ranbaxy. The acquisition of Hichens Harrison, considered a bastion of Britishness, is expected to help Religare boost its investment banking operations and extend its geographical reach in emerging markets. Hichens Harrison is said to be the only London stockbroking firm to have survived more than 200 years almost in its original form. […]
Reliance Industries is in talks with IDFC Private Equity to acquire the latter’s 48 per cent stake in city gas firm, Krishna Godavari Gas Network. (KGGNL), a senior Andhra Pradesh government official said. Krishna Godavari Gas Network is a joint venture between the Andhra Pradesh government, Gujarat State Petroleum Corporation and IDFC Private Equity. “RIL is keen on holding a controlling stake in KGGNL. GSPC is also keen on this. But, IDFC PE is in favour of RIL for the deal,” the state government official said in Hyderabad. KGGNL was planned to source gas from GSPC’s KG Basin block. While IDFC holds 48 per cent in the company, Gujarat State Petroleum and Andhra Pradesh Industrial Development Corporation the investment arm of the Andhra Pradesh government, hold 26 per cent each. […]
Manipal Education and Medical Group will raise $100-150 million through private equity placement in a month or two. The leading private medical education group plans to utilise the proceeds for an overseas acquisition and for its greenfield initiatives in India. The Manipal Group is also simultaneously raising $100 million through private equity for its hospital segment in the next three months, which it plans to deploy to roll out more hospitals in the country. Several leading Indian and foreign private equity players, including ICICI Ventures, are in the race for the two investments. IDFC Private Equity and Capital International had infused $70 million in Manipal Health Systems in 2006. With the new investment, Manipal Group will go for a large overseas acquisition in the education space, expected to be finalised in the next three months. Besides, it has planned greenfield campuses in three Indian cities, of which Jaipur would start by this year-end. […]
Sealing its second acquisition in a week, Tata group company, Telcon, on Friday said that it has signed a deal for acquiring a 60 per cent stake in Spanish company, Comoplesa Lebrero SA. An agreement was signed with existing shareholders of Comoplesa, a construction equipment company, to acquire 60 per cent stake in the company, Telcon said in a press release issued here. The balance 40 per cent will be retained by the existing shareholders who will continue to be associated with the venture, the release said. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|