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Actis Advisors Pvt. Ltd, an emerging-markets focused private equity (PE) firm, has acquired a minority stake worth $71-million (Rs371.6 crore) in Aurangabad-based auto component maker Endurance Technologies Ltd. Founded in 1985 as Anurang Engineering Co. Pvt. Ltd, Endurance is a manufacturer of aluminium die casting that includes alloy wheels, suspension, transmission and braking products for two- and three-wheelers and passenger and commercial vehicles. The Endurance group consists of Endurance Technologies and its subsidiaries HTTS (India), Amann Druckguss (Germany), Endurance Fondalmec […]
As part of its strategic diversification, Chennai-based non-banking finance company (NBFC) Kreon Financial Services Limited is planning to acquire around 51 per cent stake in modular kitchen company Aran Kitchen World India Private Limited. In a filing to the BSE on Friday, Kreon Financial said that it had signed a share purchase agreement with the promoters of Aran Kitchen World. Aran Kitchen World is a joint venture between Italian modular kitchen firm Aran World and Chennai-based Bohra Kitchens of the […]
UTI’s private equity arm, UTI Capital, has bought 4% stake in Indian Oiltanking, a joint venture between state-run Indian Oil Corporation and Germany’s Oiltanking GMBH, for Rs 100 crore. Indian Oiltanking, which builds operating terminals and storage facilities for petroleum products, will use the proceeds to fund its upcoming storage terminal in Paradip and for its overseas EPC projects, said Jayanta Bhuyan, managing director, Indian Oiltanking.
“We have been looking at raising funds from private equity players primarily to fund […]
SAR Group, makers of Wynncom brand of mobile phones, has acquired a 55% stake in UK-based Fly Mobiles’ business in India and Saarc regions. Both Fly and Wynncom, with combined sales of about Rs300 crore annually, and selling nearly 2,00,000 units a month, will continue to be separate brands. SAR plans to become a Rs 1,200-crore brand by mid-decade.
SAR Group promoter Rakesh Malhotra confirmed the development and said that deal size along with additional investments over the next three […]
FDI in retail may be on the backburner for now, but private equity investors are ramping up investments in the logistics sector. The latest in the series of deals is a pact by New York-based private equity fund, India Equity Partners (IEP), to acquire the road operations of Dutch freight major TNT Express in India. While the deal value could not be ascertained, the road transportation business of TNT Express had a top line of Rs 200-220 crore. The segment […]
About a third of PE investments are currently losing money, but the evidence is publicly hidden by many fund managers’ decisions not to divest underperformers
India’s economic growth has propelled private equity (PE) investments in the country to $8.2 billion in 2010 from $470 million in 2003. Although the increase in deal volume and value indicates the attractiveness of India as a PE destination, the true measure of success of a PE investment is when the fund exits, makes […]
Rising economic uncertainty will lead to several private equity (PE) firms closing their India operations in the coming months fear industry watchers.
“”Due to the imminent slowdown in the economy, arising out of uncertainty in the global markets, decline in factory output and the weakening of the rupee, several PE firms are finding the going tough and a few could even shut shop in the months to come,”” said Rahul Bhasin, managing partner at Baring Private Equity Partners.
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After pushing the Government to allow foreign airlines to invest in domestic airlines and seeking a debt recast from banks, debt-ridden Kingfisher Airlines may be looking for investment from China. Hong Kong-based private equity firm, Bravia Capital is said to be eyeing an investment in Kingfisher Airlines. When contacted, a spokesperson for the airline merely said, ‘no comments’. And e-mails sent to Bravia Capital remained unanswered. Government sources said that there were no restrictions on investments from China, including Hong […]
India-focused private equity firm Jacob Ballas Capital expects to invest about $150 million in Asia’s third-largest economy over the next 12 months, scooping up assets that offer strong long-term growth, a top official said on Wednesday. A sluggish near-term economic outlook has brought down valuations in the country of more than 1.2 billion people, and has thrown up good opportunities, Srinivas Chidambaram, managing director of the firm’s Indian operations said. “Most of the companies are more reasonably priced now. If […]
Kishore Biyani’s Pantaloon Retail (India) Ltd, today denied a newspaper report that said the company had sold its stake in Future Capital Holdings and Future Future Generali Life. The Mumbai-based group informed the stock exchanges that it denies any such transaction “at this stage.” The denial came after The Economic Times today reported, citing people close to the development that the retail entrepreneur will sell his financial services units to Deccan Chronicle and Industrial Investment Trust (IITL), through two separate […]
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