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AM Global Infrastructure Partners, a private equity firm, said it agreed to buy a 25% stake in Chennai Container Terminal Private Limited, through its International Port Holdings portfolio company. The financial terms of the transaction were not disclosed. Chennai Container Terminal, located within Chennai Port on the South East Coast of India, serves the trade route between Europe and the Far East. Dubai Ports World owns the remaining 75% stake in the terminal. […] Niche segments such as clinical research, online gaming, third-party logistics, mobile handset design and online bill paying firms are increasingly attracting the attention of private equity (PE) and venture capital funds (VCFs) as they view these businesses as sure-shot winners of tomorrow. Clearstone Venture Partners, which has a fund size of $200 million dedicated to high-growth companies in India and the US, has made investments in domestic companies. Its niche plays include Games2Win, an online gaming company, Billdesk.com, an electronic bill-paying company and DGB Microsystems, a mobile handset design company. […] Shekhar Kapur, the director of Oscar-nominated film Elizabeth, is in talks to raise a $500 million fund in Singapore to invest in the entertainment industry, including movies and music across Asia, according to Bloomberg. In an interview given to Bloomberg, Kapur said that the Investors in Singapore were more willing to bet on businesses that might take a longer period of time to make a profit, unlike hedge funds or private equity firms. […] In what is the first buyout in the India-focused real estate fund space, Yatra Capital Ltd, an Amsterdam-listed fund, has bought out Eredene Capital Mauritius through its subsidiary K2 Property Ltd for €18.07 million (Rs99.39 crore) Eredene, listed on London’s Alternate Investment Market, had raised a $100 million (Rs410 crore) India-focused realty fund that listed on Euronext in December, in which hedge funds such as GLG Partners LP, Calyon & Cayman Family, and Henderson Global Investors had invested. Earlier this year, Citigroup Ventures acquired Old Lane, a hedge fund that had a $500 million real estate focused fund and a $500 million general fund that was also investing in real estate, as well as ajoint venture with a Chennai-based developer. […] Infrastructure Development Finance Company (IDFC) has hiked its stake in SSKI, a Mumbai-based privately held domestic corporate finance and institutional securities company from the current 33.33% to 66.67%. According to market talk, IDFC is said to have hiked its stake by shelling out Rs 150 crore. The company had bought the initial 33% stake in September 2006 for Rs 100 crore. Prior to the current deal, IDFC, Shripal Morakhia and employees held around 33% each in the brokerage entity. The development finally puts to rest all rumours related to the stake sale of Mr Morakhia, promoter of SSKI. Names of JM Financial and Reliance Money were also doing the rounds as potential acquirers. […] JP Morgan’s real estate arm is in talks with Bangalore-based realty developer Prestige Group to infuse close to $100 million in the company, sources said. They said the infusion could be through equity placement or debt financing in the flagship company Prestige Estates & Projects. Sources said the cash generated could be employed for developing projects across south India, as Prestige looks to expand its footprint outside Bangalore in a big way. Last year, Prestige had reportedly raised $100 million through debt financing for specific projects. […] The focus of Indian airline companies seems to be shifting from chasing consumers to chasing capital. Almost all of them are wooing private equity investors to rope in some money. And while PE players are more than keen to invest in the Indian aviation market, they are holding back. Deccan struggeld for over six months to rope in private equity players, Go Air has been in the market for over a year. In fact, almost all airlines in India have been working hard to crack a deal with investors – but with little luck! […] Cadila Healthcare Ltd has announced that its second overseas acquisition this year, the Company signed an agreement to acquire 100% stake in Quimica e Farmaceutica Nikkho do Brasil Ltda. (Nikkho), a mid-sized, privately held Company in Brazil. The Company is profit raking and had posted sales of US$ 26 mn for the Calendar Year 2006. The consideration paid represents sales multiple of around 1. […] The growing global discomfort over private equity (PE) groups is finding some resonance in India, too. Policymakers are planning to monitor their activities and investments to firm up views on whether norms applied on PEs need a review. Several top PE groups such as Blackstone, Carlyle Group, Warburg Pincus, CVC, Actis and Temasek have invested in scores of firms in India, driven by expectations of good returns in an economy growing at over 8% annually. […] First it was speculators and investors who rode the three-year real estate boom in India. Householders and companies followed, buying homes and commercial spaces. And now, lured by the massive opportunity and high returns, private equity (PE) is foraying into Indian real estate in a big way. While 2006 saw private equity investments worth $500 million (Rs 2,080 crore), the first six months of 2007 have already seen deals worth about $755 million (Rs 3,145 crore) announced. […] |