Another round of consolidation in the aviation sector may not be far away. The Wadias who own GoAir are willing to offload upto 26% stake in the company and are evaluating proposals from FIIs, strategic investors and private equity players. […]
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Another round of consolidation in the aviation sector may not be far away. The Wadias who own GoAir are willing to offload upto 26% stake in the company and are evaluating proposals from FIIs, strategic investors and private equity players. […] India Hospitality Corp (IHC) is buying Mumbai’s Mars Restaurants from Malaysian private equity fund Navis Capital Partners. It also has the option to buy restaurant chain Nirula’s from Navis by the year-end. IHC is a special purpose acquisition corporation (SPAC) promoted by two US-based entrepreneurs, hospitality sector investment and research analyst Jason Ader and entrepreneur-designer Andrew Sasoon, to acquire Indian businesses or assets in the hospitality and related industries. […] After years of silence, private equity groups are back on the prowl for Indian IT and BPO companies. Here’s why buyout firms are back to cutting deals. Flush with cash, private equity firms are gunning for deals in the Indian IT and BPO industry. After leading private equity firm Blackstone picked up an 80% stake in BPO firm Intelenet, rival PE firms like 3i and Carlyle are said to be in the race for Citigroup's BPO arm. […] Bank of India has signed the acquisition deed for acquiring 76% stake in PT Bank Swadesi, Indonesia. […] US-based scientific instruments maker PerkinElmer has acquired the 49% stake held by its Indian joint venture partner Labindia Instruments in PerkinElmer India for an undisclosed amount. The 51:49 joint venture was formed three years back and is believed to be clocking revenues of more than Rs 100 crore. PerkinElmer is engaged in the area of designing, manufacturing, marketing and servicing products and systems for life and analytical sciences and optoelectronics. […] Two mega deals brewing on Dalal St promise to set mind-boggling benchmarks on how much a broking house can possibly pay to attract equity research and investment banking talent in India. Japanese financial services powerhouse Nomura Holdings is close to acquiring Enam Financial Consultants, one of India’s leading institutional broking and investment banking firms with revenues of around Rs 1,500 crore. […] India on Thursday facilitated steel baron L N Mittal's foray into oil refining by allowing him to pick 49 per cent stake in Hindustan Petroleum Corp's Bhatinda refinery, which would become the single largest FDI recipient in the sector. Mittal Investments plans to acquire the stake in the 9 million tons per annum refinery for Rs 3,365 crore through its 100 per cent arm Mittal Energy Investments Pte Ltd, incorporated in Singapore. […] After a bumper year in 2006, private equity fund-raising in India is now seeing a correction. Private equity and venture capital firms have raised $203.1 million till date in 2007, roughly one-tenth of what they had done ($2.2 billion) in calendar year 2006. While 2006 saw plenty of new funds being raised for the India market—an informal estimate puts the total at 17 funds—private equity activity this year will focus less on raising new money and more on the deployment of existing funds. […] SKIL Infrastructure Ltd (formerly Sea King Infrastructure Ltd), promoted by Nikhil Gandhi, has sought clearance from the Foreign Investment Promotion Board (FIPB) to sell a 26% stake in the Mumbai-based infrastructure company to US-based hedge fund manager Avenue Capital Group for about $500 million (Rs2,050 crore). “Avenue Capital is buying a 26% stake in SKIL Infrastructure Ltd for about $500 million. The money raised through a new issue of shares will be utilized to fund various infrastructure projects such as tourism and shipyard,” said an SKIL Infrastructure official, who did not wish to be identified. He declined to provide more details citing a “confidentiality agreement signed between the two parties”. […] The European unit of Usha Martin Ltd. plans to buy a distribution firm in Rotterdam, the Netherlands, for 3-4 million euros and hopes to close the deal by the end of this month, a company source said. “This company has been sourcing high-end wire ropes from different manufacturers. So the benefits will come to our company,” the source said. […] |