|
|
Tata Chemicals Limited has signed agreement to acquire 25.10% stake for $290 million as a strategic investor in stream 1 of a greenfield port-based ammonia-urea fertilizer manufacturing complex in the Republic of Gabon, Africa. Other shareholders in the project are Olam International Limited (Olam) with 62.90% and Republic of Gabon (ROG) with 12% stake. Olam is a Singapore based company listed on SGX-ST, a leading global integrated supply chain manager and processor of agricultural products and food ingredients with a direct presence in 65 countries. The project comprises of setting up of 1.3 million TPA of urea (Stream 1) with an option to expand into another stream of 1.3 million TPA of Urea (Stream 2). While the execution of Stream 1 has already commenced, the Stream 2 option will be evaluated and decision to implement will be taken in about 24 months. […]
Debt-laden apparel retailer Koutons Retail India Ltd has said non-banking financial services company IFCI Ltd raised its stake in the company by invoking the shares pledged by the company's founders. IFCI's stake in Koutons Retail has gone up to 10.24% from 5.89% earlier, the company said in a notice sent to the stock exchanges. Koutons Retail's founders and founder groups, who own 32% of the company, had pledged 98% of their shareholding to lenders as of Dec. 31, 2010, data from the stock exchanges showed. […]
Private equity firm Matrix Partners India today said it has invested Rs 50-crore as the sole investor in the first institutional round of funding of Maharana Infrastructure and Professional Services Private (MIPS). With the completion of this financing, Matrix India, Director, Amit Kapoor will join the board of MIPS, a press release issued here said. MIPS is one of the largest service providers to higher education institutes in North India. Currently, the group is running 20 courses with 10 campuses with more than 10,000 students. “MIPS has an innovative business model to address the needs of the country's fast growing education sector. […]
Debt-laden Kingfisher Airlines said on Thursday private lender ICICI Bank has acquired 28.26 million shares, or 5.68 percent stake, in the carrier on the conversion of compulsorily convertible preference shares. On March 31, the airline had issued 116.3 million shares, or 23.4 percent equity, to a consortium of 13 banks led by State Bank of India , to restructure part of its debt. Kingfisher also allotted shares to founder entities United Breweries (Holdings) and Kingfisher Finvest India. The airline has restructured its debt by converting almost 12 billion rupees of loans into equity and its current debt stands at about 60 billion rupees, Ravi Nedungadi, chief financial officer of UB Group, which controls Kingfisher, had told Reuters earlier this week. […]
Private equity (PE) firms’ investments in the country touched a whopping US$3.3 billion in January-March, 2011, with infrastructure and manufacturing companies garnering most interest. Private equity investments in January-March quarter of 2011 calendar year were about 57 per cent higher than US$2.1 billion worth of PE investment registered in the year ago period and more than double October-December’s US$1.5 billion, according to Venture Intelligence. […]
IDFC Private Equity is exiting from its investment in Bangalore-based cancer care player HealthCare Global (HCG) Enterprises. Two other HCG investors-PremjiInvest and Milestone Religare-are buying out IDFC's 20% stake, said to be worth around $30 million (Rs 138 crore). HCG was trying to get fresh investors. General Atlantic and India Value Fund were in the fray, but that effort got stuck over valuation issues. Currently, Milestone Religare, PremjiInvest and Evolvence are the three key investors in HCG. The investors will also make some fresh investments for hospital expansion through a rights issue soon. […]
DE Shaw, a global private equity (PE) and hedge fund company, is close to acquiring a 14.2 per cent stake in New Delhi Television (NDTV) for Rs 70 crore (Rs 700 million). It was in the headlines recently for its joint venture (JV) with Reliance Industries in the non-banking finance company space. According to sources close to the development, DE Shaw will acquire the stake through Merrill Lynch Capital Markets and Nomura Capital, in a series of bulk deals at Rs 76.55 per share. These shares are held by Goldman Sachs and GS Mace Holdings. […]
Singapore state investor Temasek Holdings is in talks to buy a part of U.S. private equity firm TPG Capital's holding in Indian commercial vehicle lender Shriram Transport Finance Co in a deal valued at 25 billion rupees ($561 million), the Business Standard reported on Monday. TPG, which owns 20 percent in Shriram Transport, plans to offload a significant minority stake in the non-banking finance company and has appointed Credit Suisse to advise it on the sale, the newspaper said, citing people familiar with the development. […]
Lead metals and products firm Gravita India today said it has acquired 60 per cent stake in Jammu-based K M Udyog, which has an installed lead manufacturing and refining capacity of 7,200 tonnes per annum. Following the announcement, the scrip of the company jumped to a new high of Rs 402.10 apiece on the Bombay Stock Exchange, up 2.69 per cent from the previous close. “The addition of K M Udyog, Jammu, is expected to improve the top and bottom line of the company by around Rs 65 crore and Rs 3 crore respectively during 2011-12,” it said in a filing to the Bombay Stock Exchange. […]
Private equity or PE firms are once again actively looking for investments in the logistics sector, which had experienced a drop in the pace of deal activity due to a mismatch in valuations. PE firms were previously looking at deals of at least $50 million, while smaller logistics companies were keen on deals of only up to $20 million. “A good number of PE deals in the sector concluded in the (current) financial year as well as a healthy number of deals in the pipeline are reflective of the strong PE interest in the sector,” said Manish Saigal, executive director and national industry head, transportation and logistics, KPMG India Pvt Ltd. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|