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Diageo Plc is in talks to buy 10-13 percent of India's United Spirits Ltd for $500-$600 million, the Economic Times reported on Monday, citing unnamed sources. United Spirits, whose enterprise value has been pegged at over $5 billion for the possible stake buy by Diageo, might be open to placing a small stake with the world's biggest alcoholic drinks group without losing management control, the daily said. Officials at United Spirits, India's top spirits maker and the world's third-biggest alcoholic drinks company, could not immediately be reached for comment on the report. […]
Indiaco Ventures Ltd has announced that the Company has acquired 20.83% stake in Laser Cosmetics Pvt Ltd in pursuance of authority given by the Board of Directors of the Company in the Board meeting held on October 26, 2007. The Company has also subscribed 25% in Preference Shares. All the formalities in this regard have been completed now. The Company is presently holding 1,50,000 equity shares of Rs 10/- each out of total 7,20,000 equity shares of Laser Cosmetics Pvt Ltd and 12,500 Preference Shares of Rs 100/- each out of total 50,000 preference shares of Laser Cosmetics Pvt Ltd. […]
RG Stone Urological Research Institute, the super specialty urology hospital in India today announced investment of US $ 10 million in the Institute by the leading private equity firm, ICICI Venture. The group will use the funding to establish twenty new hospitals. RG Stone Urological Research Institute, a highly reputed institute for Urology, announced major plans for expansion across India. The first phase includes a super specialty hospital with state of art technology in Goa and four speciality centres in tie up with leading hospitals, which includes S K Soni Hospital, Jaipur, Kamyani Hospital, Agra , Saguna Hospital, Bangalore and Ivy Hospital , Mohali. The projects are expected to be completed by the end of December 07. The second phase, expected to be completed by September, 2008, will see the addition of fifteen centers. RG Stone Urological Research Institute will become the first institute in the country to introduce the concept of outsourcing surgical departments. The super speciality centres would be completely owned and managed by RG Stone Urological Research Institute. The centres will be equipped with Siemens Lithotripsy with ultrasound & X-Ray attachment for localization and treatment of kidney stone removal, 100 watt Holmium Laser for treating enlarged prostate and urinary stone, Nephroscope and Uretroscope from Karl Storz and Richard Wolf, Germany for complete endourology. All the modern facilities and equipments from Karl Storz and Richard Wolf will be used in performing advanced laparoscopic surgeries. Almondz Global Securities Ltd, Delhi was the financial advisor to RG Stone for the transaction. […]
It’s a total rockfest on dealstreet. For the first 10 months of the year, the total value of mergers & acquisition (M&A) and private equity(PE) deals involving India Inc has more than doubled to a staggering $63.5 billion compared to $30.3 billion in the same period last year. While the billion-dollar strategic M&A deals hogged the limelight in the early part of this year, PE investments are leading the way in the second half. For instance, the total value of PE deals between January and October has shot up to $13.62 billion against $5.93 billion in the corresponding period last year, according to the latest dealtracker by advisory firm Grant Thornton. During the period, the volume of PE deals increased by 32% to 380 deals. This means that the average size of PE deals this year also increased from $26 million to $40 million. […]
Steel baron Lakshmi N Mittal is in talks with financial institutions to buy out 50 per cent in Hindustan Petroleum Corp’s exploration arm Prize Petroleum, sources close to the development said. The size of the deal is said to be about Rs 200 crore. Mittal has made rapid advances in the oil business in India this year first with a 49 per cent stake in HPCL's Bhatinda refinery and then partnering the state-run firm for another refinery on the east coast. “He has looked at a few firms but nothing is finalised just now,” sources said. Besides Mittal, Essar Oil, Jaiprakash Associates and L&T are other firms interested in buying a 50 per cent stake in Prize Petroleum. […]
IT, manufacturing, banking and engineering undoubtedly are still the favourites as far as private equity investors are concerned. However, over the past nine months “shallow sectors” like agriculture, energy, hospitality, telecom and media are gaining importance among bulge-bracket investors. “A standing testimony to this aspect is the fact that even a slow-moving sector like agriculture has pocketed $29 million by way of three separate deals. Agro products and agriculture-based research companies are attracting investors,” said Arun Natarajan, managing director, Venture Intelligence, a Chennai-based PE research firm. Among other investments, in the energy sector, PE parties have invested close to $252 million across 11 deals over the past nine months. The $68 million joint equity placement of Citigroup and UTI Ventures in Ind Bharat Infrastructure, IFC’s $30 million investment in Gujarat State Petronet and the $24 million joint investment of NYLIM India and WIH Holdings are some of the major PE deals in the energy sector during the considered period. According to a sectoral outlook report put out by the International Energy Agency, China and India will account for around 45% of the increase in global primary energy demand through 2030. […]
NYSE-listed Lehman Brothers is set to pick up around 10% in Ramky Group for $100 million (Rs 407 crore), the latest instance of Indian realty benefiting from private equity (PE) funds. Ramky Group is a Hyderabad-based infrastructure and realty company promoted by Ayodhya Rami Reddy. It has a turnover of around Rs 1,600 crore. Lehman Brothers is a diversified, global financial services firm with branches across the world. Ramky Group is set to use part of the funds to expand the operations of its wholly-owned subsidiary —Ramky Enviro Engineers— in India and overseas. The balance will be used to finance overseas acquisitions. Ramky Enviro Engineers specialises in bio-medical waste management, oil recovery and metal recycling. “We are looking at expanding operations in the Middle East and Singapore, besides India. We are also open to acquiring mid-sized companies in Singapore and the Middle East,” said a company official. […]
Foreign private equity funds are betting big on India to cash in on the investment boom in sectors ranging from realty to technology. New York-based Baseline, a private equity firm, is the latest entrant after biggies such as Blackstone, Goldman. The PE firm is set to invest $ 50-100 million to fund realty, infrastructure, power, retail and technology companies. The investments are expected to flow in a year’s time. It is also open to picking up an equity stake in mid sized companies. “We are eyeing power generation, real estate, infrastructure, life science and technology based knowledge process outsourcing (KPOs) firms,” said Baseline, partner and founder, Brooks Schaden. Baseline will initially target medium sized companies that have a strong business model. […]
Swedish security services firm Securitas said on Friday it had signed a deal to buy a 49 percent stake in Indian peer Walsons as part of its strategy to grow in Asia. Securitas said in a statement on Friday it would pay 107 million Swedish crowns ($17 million) for the holding. “The Indian security services market is estimated to be worth about 3,000 million crowns and is expected to grow by at least 20 percent annually in the coming five years,” Securitas said in a statement. It said Walsons is the fourth largest Indian security services company with annual sales of 76 million crowns.(Reuters) […]
ICICI Venture seems to have got a toehold in Karvy Stock Broking, which, sources said, is most likely to have parted with a chunk of its equity in favour of the domestic private equity (PE) fund. While neither the value of the deal nor the size of the stake could be officially ascertained, it is learnt that Hong Kong’s Century Pacific Group, which had invested in Karvy in mid-2005, wanted out. Century Pacific had picked up a 20% stake in Karvy Stock Broking for Rs 83 crore, which had valued Karvy at Rs 415 crore then. Sources indicated that Karvy now values itself at around Rs 1,000 crore, which is probably one of the reasons why others opted out of the race. […]
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