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DE Shaw, one the largest global providers of alternative assets, is investing close to $60 million (Rs 240 crore) in Gemini Industries and Imaging, Chennai, one of the oldest media houses in the country. The Gemini Group has its interests in film production, equipment hiring and lab processing for the motion picture business. The group has over 75 per cent market share in the equipment hiring business and over 50 per cent market share in the processing lab business for motion picture across Tamil, Telugu and Malayalam film industries. However, when contacted Anil Chawla, CEO, DE Shaw India declined to comment on the issue. The Gemini group equipped with this equity infusion, plans to set up the exhibition business in Tamil Nadu and Andhra Pradesh over the next 24 months. The first of 11 multiplex screens will kick start their operations by the end of 1st quarter of 2008 in Chennai. By 2011 they are expected to control over 300 screens. […]
Sweden-based Securitas, the world's largest security organisation, has invested $17 million (about Rs 68 crore) in city-based Walsons Services Pvt Ltd to foray into the India's Rs 4,500-crore private security agency market. The 49 per cent stake buy by Securitas is a first such deal in the private security space in India. “Securitas was looking at a partner to enter India and our company emerged as the preferred associate for the Swedish firm. With Walsons' in-depth knowledge of the market and Securitas 60 year experience operating in the field, both the companies are confident of further expanding the business,” Walsons Founder and Chairman Arjun Walia said He said as per the agreement, Securitas and Walsons would operate in India as partners and would look at expanding operations pan-India both organically and inorganically. […]
Bangalore-based IT and BPO company Valuemart Info Technologies has acquired a 74% stake in Datatalk Services to broaden its outsourcing services to expanded client base. Datatalk will become a subsidiary of the company. Datatalk offers direct marketing, customer acquisition and retention, and telemarketing services to its clients such as Airtel, Club Mahindra, Deutsche Bank, Nestle, Pepsi, Tektronics, and Zee Television. Datatalk currently operates a 100 seat facility in Bangalore and plans to set up an additional 200 seats capacity in Bangalore and Hyderabad in the next six months. […]
Global group Ipsos has bought a controlling share of India's Indica Research. Indica was founded in 1994 and now employs more than 150 full-time staff at its offices in Mumbai, Delhi and Kolkata. The firm ranks among the top five survey-based research companies in India, and last year its turnover reached 146m INR (€2.9m). Ipsos has acquired 75% of the company with an option to increase its share at a later date. Outlining the reasons behind the investment, Richard Mecchi, CEO of Ipsos in the Asia Pacific region, explained: ‘It was important to reinforce our presence in this country where market research market grew by 17% in 2006.’ […]
Bennett, Coleman & Company (BCCL) has acquired a stake in Chennai- based MARG Constructions. MARG Constructions is among India's fastest growing diversified infrastructure development companies. Established in 1994, MARG Constructions is listed on the Bombay, Madras and the Luxembourg stock exchanges. The company is promoted by G R K Reddy, who channelled MARG into infrastructure projects as diverse as IT Parks, power, ports, roads, retail and real estate. Commenting on the tie-up, Reddy, CMD of MARG said, ‘‘We aspire to maximize value to our stakeholders by continuously identifying opportunities, developing people, processes and systems. Our methodology integrates innovation and world-class technologies with professionalism and social responsibility. Times Group's investment would reinforce our confidence in the company's future.'' […]
3i India Infrastructure Fund, part of the London-based private equity and venture capital company 3i Group Plc, has invested $101 million (about Rs 404 crore) for a minority stake in Hyderabad-based engineering and construction firm Soma Enterprise Limited. Soma Enterprise Director Ankineedu Maganti and his family will continue to hold a majority stake in the company. This is the second investment made by 3i in India. The fund had in October 2007 invested $227 million for a minority stake in Adani Power, a subsidiary of Adani Group, marking its first investment in India. Soma Enterprise, with an order book of over $1.6 billion, specialises in multi-disciplinary engineering, procurement and construction (EPC) contracts across segments such as roads, irrigation, hydropower and urban infrastructure. […]
India has scored over China in terms of total private equity (PE) investments received from the United States over the last eight years, but China is well ahead of India in terms of PE investments this calendar. According to a study by Thomson Financial, “India appears to be emerging as a new favourite among global PE investors. Over the last eight years, it has received $2.51 billion in PE investments compared to $2.4 billion in China. Nevertheless, India still lags in terms of growth as PE investments have grown at a CAGR of 26.7 per cent over the last seven years.” Thomson Financial is an arm of the Thomson Corporation, one of the world’s leading information companies, focused on providing integrated information solutions to business and professional customers. PE investments from the US to China is growing at a compounded annual growth rate of 36.5 per cent (over the last eight years), but private equity investments have grown by 108 per cent (through October 2007) compared to a year ago, the Thomson study said. US PE firms are among the largest investors and play a pivotal role in the growth of such investments in the two Asian countries. Since 2000, these US firms have constituted 96.8 per cent of all PE investments in China and 73.4 per cent in India. […]
ICICI Venture Funds Management Co., a unit of India's ICICI Bank Ltd., paid $800 million to buy a stake of between 10 percent and 15 percent in New Delhi-based Jaypee Infratech, Business Standard reported, without saying where it obtained the information. The purchase is India's biggest private equity deal, the report said. Jaypee Infratech, a unit of the Jaypee Group, is constructing a 165-kilometer (103-mile) expressway connecting the northern Indian cities of Noida and Agra. (Bloomberg) […]
In its first global acquisition that will catapult it into the top 10 global soda ash manufacturers league, Ahmedabad-based Nirma Ltd has announced that it has signed an agreement to acquire US-based natural soda ash producer Searles Valley Minerals Operations Inc and Searles Valley Minerals Inc (collectively known as SVM) from private investment firm Sun Capital Partners Inc and other minority shareholders. Expected to be concluded by January 2008, the acquisition is to be made through a wholly-owned subsidiary of Nirma in US, which is in the process of being set up. While company officials refused to divulge details of the deal citing confidentiality clauses, market sources said the acquisition is being done through an all-cash deal that could cost Nirma in excess of $200 million. The acquisition price is estimated to be at a discount to the $299 million turnover that both the SVM entities raked in last year, sources said. The company is likely to finance the big ticket acquisition by taking upto 50% either on its Indian balance sheet or on balance sheet of the foreign subsidiary. The deal is subject to approval from US authorities. The big ticket acquisition is slated to push Nirma to the top seven producers of soda ash in the world with a total capacity of 2 million tonnes per annum out of the global 48 million tpa capacity of synthetic and natural soda ash. Nirma is the largest producer of synthetic soda ash in India with a capacity of about 1 million tonnes per annum. […]
In the first deal of its kind in the country’s general aviation sector, New York-based private investment firm Global Technology Investment and construction firm Punj Lloyd have bought 33% stake each in Airworks India. Airworks is one of the oldest family-owned aircraft maintenance firms in India. The two investors are putting in close to Rs 100 crore to rejig the Mumbai-based company, that will now broaden its horizon to more areas of aviation infrastructure and services. The Menon family that owns Airworks, will retain the balance 33% stake. Airworks India is India’s largest provider of maintenance services for business aircraft since 1951 with operations at various airports across the country. The firm has Director General of Civil Aviation (DGCA) approvals for over 40 types of aircraft and helicopters. Airworks India director Ravi Menon spoke to ET on the firm’s transition from a medium-sized family-owned business to a larger set-up with the ambition of catering to the entire region. He said: “The aim is to take the business forward without losing out on the passion that the founders have for aviation.” We have chosen two partners who will bring international practices and capital without us losing our identity, he added. […]
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