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Corporate guarantees given for 2007-08 deals facing high taxes now; industry presses for change in rules. Three years after the great Indian deals party of 2007-08 got over, the taxman is playing the party pooper. Indian companies that purchased assets abroad are facing an up to 10 per cent increase in deal costs due to transfer pricing adjustments raised by the income tax department. The department is raising these adjustments on commission or fees chargeable for corporate guarantees given by […]
The Securities and Exchange Board of India (SEBI) hopes to finalise regulations for alternative investments in the next two months, UK Sinha, chairman of the capital market regulator, said on Tuesday. SEBI had put up a concept paper for regulation of alternative investment funds, or AIFs, on its website in August. AIFs have been classified into nine categories, including a category for private equity funds. Any fund operating as a hedge fund shall be required to be registered as ‘strategy […]
Vivimed Labs Ltd. Thursday said it acquired Uquifa, a maker of active pharmaceutical ingredients and intermediates with operations in Spain and Mexico. Vivimed, a maker of pharmaceutical formulations, didn’t give financial details of the deal, but said the move is aimed at expanding its footprint in Europe and the Americas. Uquifa is the pharmaceutical division of U.K.-based Yule Catto PLC and operates two manufacturing sites in Spain and one in Mexico, its website showed. Uquifa will become the active pharmaceutical […]
Private equity (PE) firms are said to be in talks with medical device and technology provider Trivitron Healthcare to pick up a 10-12% stake in the company. According to sources, Bain Capital, TPG and TA Associates are interested to buy the stake in the unlisted Trivitron. The company is likely to sell the stake for Rs 150 to Rs 200 crore, the sources said. In response to an ET query, a company spokesperson said, “Trivitron group of companies as a […]
State-run Bank of India said late on Saturday it would acquire a 51 percent stake in Bharti AXA Investment Managers Pvt Ltd, an asset management company to Bharti AXA Mutual Fund. Bharti AXA Mutual Fund is a joint venture between Bharti Enterprises and AXA Investment Managers, the bank said in a statement. The remaining stake will be held by France’s AXA Group , it added. Financial terms of the transaction, which was advised by Ernst & Young, were not disclosed. […]
Ashok Piramal Group, IDFC Project Equity Fund and Canada’s SNC-Lavalin Group Inc will commit $250 million-$300 million in equity in a combined fund over the next 3-5 years, a Piramal Group official said on Tuesday. Earlier, the three firms had agreed to jointly develop road and highway projects in a public-private partnership. The group plans to eventually list the partnership, Rajeev Piramal, vice-chairman of the Ashok Piramal Group, told reporters Source: Reuters
Nashik-based Valle de Vin, maker of Zampa wines, will merge with Bangalore-based Grover Vineyards within a month to create the country’s second largest vintner after Sula Vineyards. The merged company will be called Gover Zampa Pvt Ltd, Valle de Vin owner Deepak Roy said.
Roy said Grover Vineyards owner Kapil Grower, Valle de Vin co-owner Ravi Jain and himself will make up the executive committee to manage the merged entity, but refused to share the post-merger shareholding pattern. He […]
The country’s private equity players who took advantage of the market crash by increasing stake in listed companies are in a dilemma. The share prices are, again, tumbling down — day by day. Though PE majors like Carlyle, Blackstone, ChrysCapital and Sequoia claim to be betting on Indian market with a long-term view, they seem to be in a tight spot. The shares of the listed companies they back have declined 20-50 per cent in the past few weeks. Carlyle, […]
Sebi pegs minimum allotment size for anchor investors at Rs 5 cr, move to help companies bring in serious players. The capital market regulator appears to be in a mood to appease companies which intend to go public at a time when investor confidence is hovering at record low levels. To start with, it has created a separate set of disclosures for funds (venture capital and private equity funds), that will make it easier for PE-backed entities to go public. […]
Baring Asset Management will launch the Baring India Fund which will focus on Indian equities and equity-related securities of companies listed in India or which carry out the predominant part of their economic activity there.
The primary focus of the account will make up at least 70 percent of the fund at any given point. Barings will invest up to 30 percent in companies listed outside India and within the Indian subcontinent which still conduct a significant proportion of their […]
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