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Elder Pharmaceuticals Ltd has announced that the Company has finalized a 20% strategic stake in Neutra Health PLC, an AIM listed company in the United Kingdom. This entails an investment of Sterling Pounds 5.63 million (approximately Rs 46 – 47 crores) in respect of 35197026 equity shares having a face value of 10 pence at 16 pence per share. Neutra Health PLC has three subsidiaries which market and distribute a range of neutraceutical products such as vitamins, specialized health supplements, over the counter medicines and 'detox in a box' health treatments, as well as TravelGuard range of travel related health products. Neutra Health has a turnover of 23 Million Sterling Pounds and a market capitalization of close to 16.8 Million Sterling Pounds. […]
With return on investments (ROI) ranging between 25-30 per cent, Indian telecom has become one of the most attractive destinations for the private equity players worldwide. And this action is now shifting to the telecom infrastructure and VAS players too. From initial funding to minority stakes and now even acquiring control, from the start-ups to mid-size companies and even mature listed companies, it is all happening in Indian telecom. The soaring Indian telecom industry has in the last one year witnessed frenetic activity as PE investors hope to repeat Warburg Pincus' success with Bharti Airtel. In 2006, the telecom sector accounted for about 44 per cent of the total value of all private equity deals in India, spread over 19 deals, according to a study by Delhi-based KPO firm SmartCube. The zooming equity markets and robust GDP growth have added to create an increased appetite among private equity firms. Even though it is ranked sixth in the telco sweepstakes, Idea Cellular, for instance, saw multiple investments from various private equity groups prior to its IPO. UK based GLG Partners picked up an 8 per cent stake in the company for $213 million. ChrysCapital invested $116 million for a 5 per cent stake. Providence Equity Partners invested $400 million for a 16 per cent stake, while TA Associates acquired a minority stake. In fact, acquisition of the stake in Idea marked the entry into India for funds like Providence and TA Associates. The other Indian telco that has seen high PE interest was Tata Teleservices. Singapore's Temasek Holdings and Sterling Infotech invested approximately $397 million in the company. […]
Infosys has bought the captive BPO division of Philips, sources said.
Philips BPO has centres in Chennai, Warsaw and Thailand, sources said, adding that it has 1,500 employees. 700 employees will be based in Poland.
The deal is likely to be between USD 200 and USD 300 million, sources said. With the acquisition, Infy can look forward to assured revenues of USD 300 million, sources added.
The acquisition will add to finance and […]
Private equity firm General Atlantic has paid $60 million for a minority stake in India's IBS Software Services, the Indian firm said on Wednesday. IBS, which provides services for the travel, transport and logistics industries, has two development centres in India. Edelweiss Capital was the financial adviser to IBS. In a separate deal, venture capital firm Canaan Partners said it had led The Entrepreneurs Funds and Miven Venture Partners in buying a minority stake in Indian career networking portal techTribe. It did not disclose the value of the deal. […]
After growing rapidly from around $1 billion in 2004, private equity flows into India grew to $7 billion in 2006 and will probably exceed $10 billion this year. In addition to its traditional functions of providing smart capital to fuel the entrepreneurship of non-traditional businessmen and boosting managerial efficiency, PE is slated to enter into new areas such as leveraged buy-outs, distressed assets and infrastructure. We could also witness some public offers from PE firms. At present, there are over 100 PE firms seeking to deploy $20 billion in India. The PE industry has been able to attract talented professionals from major consulting firms, investment banks and industry in India and overseas. Some of the large deals have been KKR’s investment of $900 million in Flextronics, and the recent Carlyle investment of $600 million in HDFC. […]
Reliance Communicationsmay sell 26% stake in tower unit to American Tower for Rs 9,100 crore, reports NW18.
According to Newswire 18, Reliance Communications plans to sell an additional 26% stake in its telecom tower business unit- Reliance Telecom Infrastructure.
It added that the US-based American Tower's Chairman, James Taiclet, who is currently touring India, is likely to meet Anil Ambani about the stake […]
GE India on Monday picked up 15% equity in Titagarh Wagons Ltd, marking the entry of group firm GE Equipment Services into the country. Under a strategic tie-up with Titagarh Wagons, GE Equipment Services will have preferred access to wagons manufactured by the West Bengal-based company. GE will lease the wagons to the Indian Railways and private shippers in India. GE Equipment Services will also become the preferred provider of vendor financing for Titagarh. With GE’s investment, Titagarh plans to step up the pace of manufacturing wagons. Titagarh, which manufactured 2,232 wagons during 2006-07, plans to raise its annual manufacturing capacity to 3,600-4,000 wagons after the tie-up. […]
Private equity investors Lehman Brothers , Warburg Pincus and Carlyle Group are in talks with Mumbai brokerage Angel Broking to buy a 20 percent stake, the Economic Times said on Tuesday. Angel aims to raise about 2 billion rupees ($50 million) from the stake sale, which would value the stocks brokerage at about 10 billion rupees, the newspaper said, quoting unnamed sources. Other investors are also in the fray, the paper said, and it quoted Angel Chairman and Managing Director Dinesh Thakkar as saying it had short-listed a dozen suitors and would shortly invite bids from them. […]
Power Finance Corporation’s (PFC) PE fund, which is targeted at last mile energy requirements of power projects in India, is expected to bring into its fold large cross-border funds such as Cornell Capital Partners, Babson Capital Management, Sun Life Financial, AllianceBernstein and Cigna. Sources said US Power Production had helped set up meetings between the PFC top brass and representatives of various investment companies in Houston and New York City earlier this month. PFC will thus become the first PSU to launch a PE fund in the country. Confirming that the fund is being set up, PFC chairman VK Garg told ET that the target was to scale it up to $1 billion eventually. “We are targetting $1 billion because of the huge fund requirements of the power sector in India. After all, each ultra mega power project will cost around $4 billion,” Mr Garg said. […]
Carlyle has picked up around 5% stake in Great Offshore (GOL), formed by demerging the offshore division of GE Shipping, India's largest private shipping company. The deal, struck on Friday, is believed to be valued at around Rs 165 crore. Sources said the private equity fund from Mauritius picked up shares from mutual funds — mostly from Merrill Lynch, UTI and HSBC, for Rs 860 a share. The deal was arranged by Motilal Oswal. On Friday, GOL's share price rose almost 5% on BSE to close at Rs 861. Post-deal, LIC, GIC and other mutual funds will hold around 7% stake. Vijay Sheth holds around 20% of GOL. Other promoters, including the families of Mulji and Asha Sheth, wife of late Vasant Sheth, one of the founders of GE Shipping, hold around 8% stake. […]
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