|
|
Global private equity and real estate funds are looking to check into mid-market hotels with occupancy and room rates in major markets picking up in recent months. A slew of funds including Duet, Starwood Capital, Pacifica, Sun Apollo, Xander and Och-Ziff have renewed discussions with hospitality companies such as Red Fox and Lemon Tree; Roots Corporation, a wholly-owned subsidiary of The Indian Hotels Company that promotes its budget brand Ginger; and Berggruen Hotels, promoters of Keys, industry officials said. Industry watchers say hotel projects and low-income group housing projects are areas where many international asset class funds are looking to invest. […]
Will raise Rs 1,729 crore through sale in Belgian arm to reduce debt burden. Suzlon Energy today sold a 35.22 per cent stake in Hansen Transmission, its Belgium-based subsidiary, through a secondary placement of depository interest for $370 million (Rs 1,729 crore), as part of its efforts to retire mounting debt. AE-Rotor Holding BV (AERH), a wholly-owned indirect subsidiary of Suzlon Energy, which bought Hansen three years earlier, has completed a secondary placement of about 236 million of depository interest at 95 pence each, Suzlon said in a statement. With the sale, Suzlon’s holding in Hansen has declined to 26.06 per cent from over 61 per cent. The sale would not result in changes in the composition of the board in Hansen. […]
Petronet LNG Ltd is keen to acquire up to 10 per cent stake in ONGC Petro-additions Ltd which is setting up a cracker complex in Gujarat. Mr A K Balyan director (Human Resources and Business Development) of ONGC told reporters that “Petronet LNG has shown interest to acquire up to 10% stake in OPaL. The board will take a decision on the matter.” He said that the company is also looking to hit the capital market in the next year but has yet to decide on the amount of stake to be made public. […]
The Ruias’ Essar Group is to acquire a 51 per cent stake in the telecom operations of the Dhabi Group, an investment company led by Abu Dhabi’s royal family, in Uganda and Congo for around $150 million (Rs 692 crore). In Dhabi’s Warid Telecom Uganda and Warid Telecom Congo, Essar Telecom will invest for the growth capital that will help to enhance network and improve marketing. Upon completion of the investments, Essar will acquire a majority stake in both the assets, said the company in a statement. The agreements were signed by Sheikh Nahyan Mabarak al Nahyan, chairman of the Dhabi Group, and Prashant Ruia, Group Chief Executive of Essar in Abu Dhabi today. […]
UltraTech Cement, a unit of Indian conglomerate Aditya Birla Group, is absorbing sister unit Samruddhi Cement, to form the country's biggest cement firm, both companies said. The move, flagged in October, was approved by the boards of both companies on Sunday. The combined entity will be better placed to take on Swiss firm Holcim, which controls about a fifth of India's 200-million tonne cement market through ACC and Ambuja Cements. “The merger will achieve the group's objective of consolidating its cement business into a single entity, thereby creating a platform that will help in pursuing aggressive growth going forward,” Kumar Mangalam Birla, chairman of Aditya Birla Group, said in a statement on Sunday. […]
Private equity investment in the country's telecom sector is likely to surge next year with the introduction of 3G services and rural penetration by telcos, experts say. Analysts believe as operators roll out 3G services by next year, the telecom infrastructure and mobile value added services will see more PE deals materialising in the sector. “As new operators come on board, spending on downstream or ancillary operations like mobile value added services (VAS) and tower infrastructure would be increased,” Venture Intelligence Chief Executive Arun Natarajan said. So far this year, the Indian telecom industry witnessed PE investments worth over USD 300 million through 11 deals. […]
TVS Shriram Growth Fund, managed by Chennai-based TVS Capital Funds Ltd, will invest Rs35 crore in Bangalore-based Dusters Hospitality Services Pvt Ltd and Mumbai-based Total Solutions Facility Management Pvt Ltd. Total Solutions will be merged with Dusters Hospitality in the next 2-3 months and the invested funds will go into the combined business. Both firms provide facility management services and are headed by brothers Shamsher Puri (Duster Hospitality) and Jasmer Puri (Total Solutions). […]
The Aditya Birla group is launching a $500-million Mauritius-based real estate fund that will target investments in India. The fund, which is called the Aditya Birla India Real Estate Vision Fund, has been launched by the group’s asset management arm, Birla Sun Life Asset Management. The real estate fund has a targeted corpus of $350 million and a greenshoe option of up to $150 million. The greenshoe option of the six-year fund is still open. Sources in the Aditya Birla group confirmed the development. […]
Multiplex chain PVR Ltd Friday said it has acquired the cinema business of DT Cinemas, a subsidiary of DLF Group, in a cash-cum-stock deal. According to the deal, PVR will issue 25.57 lakh shares to DT Cinemas representing 10 percent of the fully diluted paid-up share capital of PVR and make a payment of Rs.20.2 crore, the company said in a statement. DT cinemas has a current portfolio of 29 screens with 26 currently operational and the other three expected to commence operations in six months. […]
Under the above arrangement, Major Cineplex Group Plc. would be investing approx Rs420mn into PVR Limited by subscribing to 25.57 lac of new shares. PVR Ltd., one of the India’s leading retail entertainment companies, announced that it is offering 10% of its equity capital to Major Cineplex Group Plc., one of Thailand’s largest entertainment group. Under the above arrangement, Major Cineplex Group Plc. would be investing approximately Rs420mn into PVR by subscribing to 25.57 lakh new shares. The investment by Major Cineplex in PVR would be done at a price of Rs165 per share, a premium of 19% over the closing stock price of Rs139 on the NSE, on Thursday, 12th November. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|