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Standard Chartered Private Equity has made a partial exit for its investment in Aurobindo Pharma for about Rs 95 crore. The fund had picked 4.5% of equity in the Hyderabad-based generic pharmaceuticals manufacturer three years back and had added 0.5% … […] ICICI Bank will sell 5% of its equity stake in Asset Reconstruction Company of India (Arcil) to an African bank, First Rand Bank, for little less than Rs 40 crore. Arcil deals in bad loans, and the development reflects a … […] The final line-up of suitors for the $420-million acquisition of Cambridge Solutions—among the biggest in the Indian tech space—has HCL Technologies pitched against buyout private equity giants Carlyle and Permira. ET had first reported the names of Carlyle and HCL. But the entry of Primera, the largest European buyout fund, appears to be recent, say sources. If it retains interest, this could be Permira’s first India play. The company, which mopped up about $12 billion last year, has battled US buyout funds Blackstone and KKR in deals across the US and Europe. […] Nusli Wadia`s GoAir and Madurai-based Paramount Airways are looking at a merger where the former may be open to divesting 40 percent stake to the latter, the Economic Times paper said on Tuesday. Quoting unidentified sources, the report said Paramount … […] Indian automobile component maker Amtek Auto Ltd said it has acquired the entire assets of UK-based JL French's (Witham) Ltd, a maker of aluminium components for automotive industry. The company did not disclose financial details of the deal. […] GVFL Ltd has announced divestment of its holding from Anupam GlobalSoft Ltd (formerly Anupam Infosys Ltd), a company promoted by the Anupam Group of Companies, based in Vallabh Vidyanagar and part of its ‘Gujarat IT Fund’ in 2000. This is GVFL’s 52nd exit from its 60 investments. […] Gridstone Research, an equity research start-up in Mumbai, had secured venture capital funding from three investors last March. The investors included Charles River Ventures, Helion Venture Partners and finally Maverick Capital, a $10 billion (Rs41,000 crore) American hedge fund. What appeared then to be a one-off has now become a bit of a trend. Hedge funds are fast penetrating India’s private equity market and, since mid-2005, have concluded 36 deals worth $1.7 billion. And, this is just a partial estimate, based on deals that are publicly known. The actual numbers, industry experts say, is likely to be much higher. […] Flagship carrier Air India is exploring a strategic alliance or an equity stake in Serbia’s national carrier Jugoslavenski Aerotransport (JAT), an official said on Monday. “Discussions are on for a joint venture. We are also exploring the possibility of buying a stake in JAT,” said Air India executive director (public relations) S. Venkat. State-run Air India was exchanging data including traffic and looking at valuations and profitability, he added. […] Tata Tea today made an open offer to purchase an additional 20% stake in Mount Everest Mineral Water (MEMW) for Rs 95.19 crore. The Tata group firm will acquire up to 67.99 lakh equity shares at a price of Rs 140 each, to be funded through internal accruals, the company said in a public announcement. […] France Telecom on Monday confirmed it was in exclusive discussions to acquire two units of Indian network services provider GTL Ltd to reinforce its corporate services in India. “Orange Business Services confirms having started exclusive talks with GTL in order to buy two divisions,” said a spokesman at France Telecom, adding these were information technology and telecom network management businesses. The Economic Times, quoting a source close to the talks, said at the weekend that France Telecom was close to acquiring GTL's IT business for about 2.5-3.0 billion rupees. […] |