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JPMorgan's real estate investment arm is in advanced talks with private Indian real estate firm Aparna Constructions & Estates Pvt. Ltd. to invest about $100 million in a project, the Economic Times reported, citing unnamed sources. The investment is likely to be made through a special purpose vehicle, the report said. […] HDFC and Barclays and announced that they would sell their entire shareholding in BPO firm Intelenet to SKR BPO Services. SKR is jointly owned by the management of Intelenet and Blackstone GVP Capital Partners, reports CNBC-TV18. In the country's largest management buyout, Blackstone and the management of Intelenet is buying the whole stake of HDFC and Barclays in Intelenet for about Rs 950 crore. […] Citigroup is keen on selling 80 percent of its business process outsourcing (BPO) arm in India for $700-$750 million, the Mint said on Tuesday, on the heels of Blackstone's acquisition of a back-office firm. Citigroup is in “advanced negotiations” with leading private equity firms for an all-cash deal for Citigroup Global Services, the newspaper said, citing investment bankers close to the deal. […] Bennett, Coleman and Co Ltd (BCCL) has acquired a stake in Bangalore-based Karuturi Networks engaged in the business of floriculture, processing foods — gherkins and information technology. Karuturi has tied up with the Future group and is looking at their outlets for marketing flowers on a revenue-share basis under a brand called Flower Express. The company plans to enter the retail space through shop-in-shops, kiosks and exclusive brand stores through tie-ups with other groups. […] CLSA Capital Partners, a private equity arm of France's Credit Agricole , has agreed to invest $20.3 million in an Indian firm which makes inverters and other power supply systems, CLSA said in a statement on Monday. CSLA ARIA Investment Partners III and CLSA Clean Resources Asia, two funds within the private equity arm, would invest in the New-Delhi-based Luminous Power Technologies for an undisclosed stake […] Private equity heavyweight Blackstone Group said on Monday it agreed to buy Indian back-office firm Intelenet Global Services Ltd. for an undisclosed sum, its first management buyout in India. U.S.-based Blackstone, which along with rival Carlyle has been grappling with stiff resistance from Indian companies unwilling to sell out, will own 80 percent of Intelenet, with the back office firm's management holding the remainder. The Economic Times newspaper said the deal could be worth $200 million, quoting unidentified sources. […] Icelandic bank Kaupthing said on Monday it had inked a deal to buy 20 percent of Indian investment services firm FiNoble Advisors Private Ltd. The purchase price was not disclosed. Kaupthing said in a statement it had an option to buy the remaining 80 percent in the New Delhi-based firm, which has 25 employees, in five years. […] Evolvence India Holdings Plc ('EIH' or 'the Company'), an Isle of Man, private equity fund of funds holding company that focuses on India, today announced its unaudited net asset value as of March 31, 2007, being its first update since admitting to AIM on 23 March 2007. EIH is promoted by Evolvence Capital Ltd ('Evolvence Capital'), a Dubai based alternative investments company with assets under management of approximately US$ one billion. […] Bennett, Coleman & Co. Ltd has acquired a stake in Zicom Electronic Security Systems, one of the leading electronic security solution providers in the country. […] IFCI plans to invite bids from investors for sale of 26% in the early week of July. The institution has decided to make public a ‘memorandum of information’ inviting interested parties, said senior IFCI officials. They said that IFCI has decided not to convert itself into a bank, but continue as a term-lending institution. “If we become a bank, we would be like any other. We may not even rank among the top 10 banks in India. Further, a bank has to follow directed lending rules, invest one-fourth of its deposits in government securities, and another 5.5% has to be deposited with RBI in the form of cash reserve ratio. These stipulations are not there for FIs,” they said. IFCI officials added they would instead aim at being a world-class term-lending institution. […] |