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One of India's premiere film bonding company, Infinity Film Completion Services, has acquired 25 per cent stake in Brazil's biggest film distribution company Lumiere. With this arrangement in place, Infinity FCS now becomes a 25 per cent partner in Lumiere's distribution business thereby allowing Infinity FCS to distribute all of Lumiere's films in the Indian market. According to Aanand Mahendroo, managing director, Infinity FCS, “We have ambitious plans in this line of business for the coming years and joining hands with Lumiere is the first step in this direction. We should be announcing more such deals in the coming months.” Founded by Aanand Mahendroo and Mehool Parekh, Infinity FCS is a division of Infinity India Advisors Pvt Ltd. The nature of business conducted includes giving guarantees of completion to producers and financiers of Indian and international films. The General Insurance Corporation of India (GIC)-India's state-owned re-insurer-backs Infinity's services. While Mahendroo refrained from disclosing the financial details of the deal, according to a Brazil's Variety Magazine, Infinity FCS and NYC-based investment advisory and equity participation firm SCGI Financial Partners have together invested $10 million for becoming Lumiere's shareholders. As for Infinity FCS's other investment plans are concerned, company sources indicated that it is either close to or has already acquired 25 per cent stake for an undisclosed sum in Hong Kong filmmaker Yu Lik-wai's upcoming international co-production Plastic City. An acclaimed filmmaker and Cannes award winner Yu Lik-wai is exploring something new and revolutionary in his new movie. […]
The VG Siddhartha-led Amalgamated Bean Coffee Trading (ABCTL) is closing a $95 million (Rs 340 crore) fund-raising from Deutsche Bank and Templeton Darby International. The investment is to expand and develop ABCTL’s retail business, the key component of which is Cafe Coffee Day, the country’s largest chain with 480 cafes in India. The transaction, which has been in the making for a while, is likely to be wrapped up soon, according to sources in the company. Mr Siddhartha, who pioneered India’s coffee cafe culture, won ET’s Entrepreneur of the Year Award in 2003. The two private equity investors together are expected to take a little over a 10% stake in ABCTL’s retail business, whose enterprise value is close to $600 million with debts included, sources say. It is believed that Deutsche Bank will invest $70 million with Templeton Darby International bringing in the remaining $25 million. […]
Venture capital firm Matrix Partners India on Wednesday said it has expanded its consumer services fund from $150 million to around $450 million. The firm will now make larger growth capital investments up to $30 million in consumer services business, a company press release issued said. The fund will continue to make smaller venture capital investments in early stage companies and has already invested in several companies so far. The investment team includes six investment professionals based in the city. Matrix Partners India is co-founded by Avnish Bajaj and Rishi Navani, in partnership with Matrix Partners US. […]
Diageo Plc is in talks to buy 10-13 percent of India's United Spirits Ltd for $500-$600 million, the Economic Times reported on Monday, citing unnamed sources. United Spirits, whose enterprise value has been pegged at over $5 billion for the possible stake buy by Diageo, might be open to placing a small stake with the world's biggest alcoholic drinks group without losing management control, the daily said. Officials at United Spirits, India's top spirits maker and the world's third-biggest alcoholic drinks company, could not immediately be reached for comment on the report. […]
Indiaco Ventures Ltd has announced that the Company has acquired 20.83% stake in Laser Cosmetics Pvt Ltd in pursuance of authority given by the Board of Directors of the Company in the Board meeting held on October 26, 2007. The Company has also subscribed 25% in Preference Shares. All the formalities in this regard have been completed now. The Company is presently holding 1,50,000 equity shares of Rs 10/- each out of total 7,20,000 equity shares of Laser Cosmetics Pvt Ltd and 12,500 Preference Shares of Rs 100/- each out of total 50,000 preference shares of Laser Cosmetics Pvt Ltd. […]
RG Stone Urological Research Institute, the super specialty urology hospital in India today announced investment of US $ 10 million in the Institute by the leading private equity firm, ICICI Venture. The group will use the funding to establish twenty new hospitals. RG Stone Urological Research Institute, a highly reputed institute for Urology, announced major plans for expansion across India. The first phase includes a super specialty hospital with state of art technology in Goa and four speciality centres in tie up with leading hospitals, which includes S K Soni Hospital, Jaipur, Kamyani Hospital, Agra , Saguna Hospital, Bangalore and Ivy Hospital , Mohali. The projects are expected to be completed by the end of December 07. The second phase, expected to be completed by September, 2008, will see the addition of fifteen centers. RG Stone Urological Research Institute will become the first institute in the country to introduce the concept of outsourcing surgical departments. The super speciality centres would be completely owned and managed by RG Stone Urological Research Institute. The centres will be equipped with Siemens Lithotripsy with ultrasound & X-Ray attachment for localization and treatment of kidney stone removal, 100 watt Holmium Laser for treating enlarged prostate and urinary stone, Nephroscope and Uretroscope from Karl Storz and Richard Wolf, Germany for complete endourology. All the modern facilities and equipments from Karl Storz and Richard Wolf will be used in performing advanced laparoscopic surgeries. Almondz Global Securities Ltd, Delhi was the financial advisor to RG Stone for the transaction. […]
It’s a total rockfest on dealstreet. For the first 10 months of the year, the total value of mergers & acquisition (M&A) and private equity(PE) deals involving India Inc has more than doubled to a staggering $63.5 billion compared to $30.3 billion in the same period last year. While the billion-dollar strategic M&A deals hogged the limelight in the early part of this year, PE investments are leading the way in the second half. For instance, the total value of PE deals between January and October has shot up to $13.62 billion against $5.93 billion in the corresponding period last year, according to the latest dealtracker by advisory firm Grant Thornton. During the period, the volume of PE deals increased by 32% to 380 deals. This means that the average size of PE deals this year also increased from $26 million to $40 million. […]
Steel baron Lakshmi N Mittal is in talks with financial institutions to buy out 50 per cent in Hindustan Petroleum Corp’s exploration arm Prize Petroleum, sources close to the development said. The size of the deal is said to be about Rs 200 crore. Mittal has made rapid advances in the oil business in India this year first with a 49 per cent stake in HPCL's Bhatinda refinery and then partnering the state-run firm for another refinery on the east coast. “He has looked at a few firms but nothing is finalised just now,” sources said. Besides Mittal, Essar Oil, Jaiprakash Associates and L&T are other firms interested in buying a 50 per cent stake in Prize Petroleum. […]
IT, manufacturing, banking and engineering undoubtedly are still the favourites as far as private equity investors are concerned. However, over the past nine months “shallow sectors” like agriculture, energy, hospitality, telecom and media are gaining importance among bulge-bracket investors. “A standing testimony to this aspect is the fact that even a slow-moving sector like agriculture has pocketed $29 million by way of three separate deals. Agro products and agriculture-based research companies are attracting investors,” said Arun Natarajan, managing director, Venture Intelligence, a Chennai-based PE research firm. Among other investments, in the energy sector, PE parties have invested close to $252 million across 11 deals over the past nine months. The $68 million joint equity placement of Citigroup and UTI Ventures in Ind Bharat Infrastructure, IFC’s $30 million investment in Gujarat State Petronet and the $24 million joint investment of NYLIM India and WIH Holdings are some of the major PE deals in the energy sector during the considered period. According to a sectoral outlook report put out by the International Energy Agency, China and India will account for around 45% of the increase in global primary energy demand through 2030. […]
NYSE-listed Lehman Brothers is set to pick up around 10% in Ramky Group for $100 million (Rs 407 crore), the latest instance of Indian realty benefiting from private equity (PE) funds. Ramky Group is a Hyderabad-based infrastructure and realty company promoted by Ayodhya Rami Reddy. It has a turnover of around Rs 1,600 crore. Lehman Brothers is a diversified, global financial services firm with branches across the world. Ramky Group is set to use part of the funds to expand the operations of its wholly-owned subsidiary —Ramky Enviro Engineers— in India and overseas. The balance will be used to finance overseas acquisitions. Ramky Enviro Engineers specialises in bio-medical waste management, oil recovery and metal recycling. “We are looking at expanding operations in the Middle East and Singapore, besides India. We are also open to acquiring mid-sized companies in Singapore and the Middle East,” said a company official. […]
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