After surviving all bids at privatisation, Air India and Indian, the two merging state-run carriers, are bidding to buy controlling stakes in Jat Airways, Serbia’s national airline.
This is the first time in its history that Air India is looking at buying another airline , let alone an international flagship. The only other contender for acquiring Jat Airways—formerly called Yugoslav Airlines—is Russia’s national carrier Aeroflot, which has already made a competitive bid for the offer.
Thursday, May 31, 2007
Amtek Auto close to $40 mn deal
Auto parts maker Amtek Auto Ltd is close to buying an aluminium foundry in the UK from J L French Automotive Castings for an enterprise value of about $40 million. (From ET)
Kingfisher acquires 26% in Air Deccan
Update:United Breweries Holdings has picked up a 26 per cent stake and it would make an open offer to acquire a minimum of 20 per cent to all shareholders of Air Deccan at a price of Rs 155 in compliance with Sebi regulations next week UB Holdings has made an initial investment of Rs 150 crore in Deccan Aviation and a further investment of Rs 396 crore would be made by this month-end for 26 per cent stake.
With this acquisition, the Kingfisher-Air Deccan group will become the largest domestic airline with a fleet of 71 aircraft -- 41 Airbus and 30 ATR aircraft.
The combined entity will cover all segments of air travel from low to premium fares and offer maximum number of 537 daily flights covering the single largest network in India covering 69 cities, taking advantage unparalled synergy benefits from a common fleet of aircraft
(Source: ET)
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Vijay Mallya, the flamboyant and aggressive king of spirits, is believed to be buying Air Deccan, India’s leading low-cost airline, in a move that would make him the country’s biggest aviation player by marketshare. Air Deccan will retain its low-cost status while Kingfisher will run as a full-service airline. Captain GR Gopinath, CEO of Air Deccan, flatly denied any deal was in the offing with Kingfisher.
Markets have given a thums up for the deal. Deccan, operator of India's biggest low-fare airline, gained as much as 7.6 per cent and Mallya's United Breweries Holdings rose 8.5 per cent.
With this acquisition, the Kingfisher-Air Deccan group will become the largest domestic airline with a fleet of 71 aircraft -- 41 Airbus and 30 ATR aircraft.
The combined entity will cover all segments of air travel from low to premium fares and offer maximum number of 537 daily flights covering the single largest network in India covering 69 cities, taking advantage unparalled synergy benefits from a common fleet of aircraft
(Source: ET)
----
Vijay Mallya, the flamboyant and aggressive king of spirits, is believed to be buying Air Deccan, India’s leading low-cost airline, in a move that would make him the country’s biggest aviation player by marketshare. Air Deccan will retain its low-cost status while Kingfisher will run as a full-service airline. Captain GR Gopinath, CEO of Air Deccan, flatly denied any deal was in the offing with Kingfisher.
Markets have given a thums up for the deal. Deccan, operator of India's biggest low-fare airline, gained as much as 7.6 per cent and Mallya's United Breweries Holdings rose 8.5 per cent.
India Equity Partners Buys APIDC VC's Stake In Ocean Sparkle
Private equity fund India Equity Partners (IEP) has picked up an undisclosed stake in Ocean Sparkle lTD, a Hyderabad-based port management company, for $18 million, reports The Economic Times. IEP has bought the stake held by APIDC Venture Capital in the company, which, according to ET, is probably at a valuation of $100 million. The founders of the company had the first right of refusal to buy the stake from APIDC Venture Capital, but did not exercise the right since the valuation was "high".
Contributor: Amit Sharda
Contributor: Amit Sharda
IFC To Invest In Aloe Environment Fund And Samara Capital
International Finance Corporation(IFC), the multilateral investment arm of the World Bank, has decided to invest in two India focussed private equity funds - Aloe Environment Fund 2 (Aloe 2) and Samara Capital Partners Fund I Ltd (Samara Capital).
IFC has proposed to invest €15 million ($20 million) in Aloe & up to $10 million in Samara.
Contributor: Amit Sharda
IFC has proposed to invest €15 million ($20 million) in Aloe & up to $10 million in Samara.
Contributor: Amit Sharda
Wednesday, May 30, 2007
Yes Bank launches $100 mln private equity fund
Yes Bank has launched a $100 million private equity fund to invest in food and agriculture sectors. The Food and Agribusiness India Fund plans to invest its entire amount in 1-2 years, earmarking $5-7.5 million per company and expects an average annual return of 20-25 percent.
Best Buy in talks with Vivek to enter India
Best Buy, the larget US consumer electronics retailer in US appears to be setting its sights on India.
A top level delegation from Best Buy was recently in India to meet senior representatives from leading consumer electronic firms like LG, Samsung, Haier and Sony to gain first hand knowledge of the Indian market.
The buzz suggests that Best Buy may enter into a partnership with Vivek Ltd to enter India. Vivels is the largest consumer electronics and home appliances retial chains in the country with more than 52 stores.
A top level delegation from Best Buy was recently in India to meet senior representatives from leading consumer electronic firms like LG, Samsung, Haier and Sony to gain first hand knowledge of the Indian market.
The buzz suggests that Best Buy may enter into a partnership with Vivek Ltd to enter India. Vivels is the largest consumer electronics and home appliances retial chains in the country with more than 52 stores.
Warburg Pincus picks up Cibernet for $200 million
Warburg Pincus has acquired Cibernet, one of the most experienced vlearing and roaming business service provider for telecom companies across the world, for over $200 million.
The move havs proved to be a windfall for iLabs, a PE firm operating out of Hyderbad and Chennai, which wasa an anchor investor along with the Cellular Telecommunications and Internet Assocaition in Cibernet.
The move havs proved to be a windfall for iLabs, a PE firm operating out of Hyderbad and Chennai, which wasa an anchor investor along with the Cellular Telecommunications and Internet Assocaition in Cibernet.
Tuesday, May 29, 2007
Ranbaxy buys 15 pc stake in Jupiter Bio
Jupiter Bioscience, a manufacturer of specialised organic compounds, today said it has alloted 14.91 per cent stake to Ranbaxy Laboratories through issue of share warrants on preferential basis for Rs 46.70 crore.
Strides Arcolab to acquire Italian pharma co Diaspa
Strides Arcolab is set to acquire an Italian-based company Diaspa, which has a US FDA approved fermentation plant for niche pharma products.
Arun Kumar, Managing Director of Strides Arcolab, said they would not need to raise money to fund the acquisition. He said the deal is to be funded by internal accruals and debt funds.
He, however, refused to disclose the deal size. The deal is likely to be closed in 90 days.
Arun Kumar, Managing Director of Strides Arcolab, said they would not need to raise money to fund the acquisition. He said the deal is to be funded by internal accruals and debt funds.
He, however, refused to disclose the deal size. The deal is likely to be closed in 90 days.
JWT india to acquire agencies in events and digital space
JWT India, the largest advertising agency in India is planning to acquire a slew of mid-sized specialist agencies to enter new sectors such as digital communications and event management.
The agency is in talks with DNA Networks in Bangalore, Showbiz and Midas events.
Main reasons for acquisition strategy: Dearth of talent in the creative space, ability to offer a 360 degree communication plan.
The agency is in talks with DNA Networks in Bangalore, Showbiz and Midas events.
Main reasons for acquisition strategy: Dearth of talent in the creative space, ability to offer a 360 degree communication plan.
MEG buys 70% sgtake in MeriTrac
The Manipal Education Group (MEG) has picked up a 70% stake in the skills assesment and testing company MeriTrac, with an investment of Rs 50 crore.
Temptation Foods buys Gourmet Kitchen
Temptation Foods, a Mumbai-based fruit and vegetables export company, has acquired 100 per cent stake in Karen’s Gourmet Kitchen (KGK), a foods brand managed by leading food critic, Karen Anand.
Last month, Temptation Foods had picked up 26 per cent stake in KGK, which manufactures and markets sauces, jams and salad dressings.
The complete buyout would enable Temptation to position itself in the premium cooking aids market.
Last month, Temptation Foods had picked up 26 per cent stake in KGK, which manufactures and markets sauces, jams and salad dressings.
The complete buyout would enable Temptation to position itself in the premium cooking aids market.
Crompton Greaves to buy Ireland’s Microsol Holdings
Transformer and switchgear maker Crompton Greaves Ltd is buying out Ireland’s Microsol Holdings Ltd for an enterprise value of €10.50 million.
This acquisition will increase the company’s strengths in the area of high-end engineering and sub-station automation capabilities
This acquisition will increase the company’s strengths in the area of high-end engineering and sub-station automation capabilities
Evolvence India Fund announces US$ 20 million investment into JM Financial India Fund
Evolvence India Fund, (EIF), an established private equity fund of funds focusing on growth capital in India, has announced an investment of US$ 20 million into JM Financial India Fund, a corporate private equity fund sponsored by JM Financial Ltd, a dominant financial services group, and lead investor, Old Lane Partners, based in the U.S.
JM Financial India Fund is a US$ 225 million fund promoted by the JM Financial Group, focusing on investments in growth-oriented, largely unlisted, mid-sized companies. Investments made by JM Financial fund so far include investments into Genesis Colour, a high-end retail company; Sona Group, an automotive components manufacturer; and International Tractors Ltd, a leading farm equipment and tractor manufacturer.
JM Financial India Fund is a US$ 225 million fund promoted by the JM Financial Group, focusing on investments in growth-oriented, largely unlisted, mid-sized companies. Investments made by JM Financial fund so far include investments into Genesis Colour, a high-end retail company; Sona Group, an automotive components manufacturer; and International Tractors Ltd, a leading farm equipment and tractor manufacturer.
Ranbaxy buys 13 BMS brands for $26 million
Ranbaxy has acquired 13 dermatology brands in US from Bristol-Myers Squibb. The company paid $26 million for the brands which generated revenues of $15 million.
Malvinder Singh, CEO added that Ranbaxy’s branded business strategy in the US will continue to happen in a phased manner. The company is looking at more profit-making brands in the US and the focus is on adding more products in dermatology. Ranbaxy may see 10% growth in the dermatology segment in the US.
Malvinder Singh, CEO added that Ranbaxy’s branded business strategy in the US will continue to happen in a phased manner. The company is looking at more profit-making brands in the US and the focus is on adding more products in dermatology. Ranbaxy may see 10% growth in the dermatology segment in the US.
Monday, May 28, 2007
Temasek picks up 21.74% in GL Hotels
Dunearn Investments (Mauritius), a wholly-owned subsidiary of Asia investment firm Temasek Holdings, is acquiring a 21.74% stake in GL Hotels for Rs 125 crore. Mumbai-based GL Hotels, promoted by the Ghais of the Kwality and Gaylord restaurant fame, now operates the boutique Intercontinental (IHG) Marine Drive in south Mumbai.
It is foraying into boutique and lifestyle hotels and is understood to be talking to a number of global hospitality majors for the same
It is foraying into boutique and lifestyle hotels and is understood to be talking to a number of global hospitality majors for the same
StanChart close to buying stake in UTI securities
Yet another bank trying to buy into the Indian booming brokerage business. Standard Chartered Plc is in talks to buy 49% stake in UTI securities.
This would help StanChart to service their private banking clients by offering stock brokerage.
This would help StanChart to service their private banking clients by offering stock brokerage.
Sunday, May 27, 2007
Carlyle picks up 5.6% in HDFC
HDFC plans to raise Rs. 3114 crore via preferential offer to Carlyle Group, which translates into a 5.6% in HDFC post the issue.
The money is basically for investing in the insurance business.
The money is basically for investing in the insurance business.
Dubai Ventures buys stake in Bharat Hotels
Dubai ventures has bought in an equity stake of $40 million in Bharat Hotels, one of India's largest hotel chains in India.
Bharat Hotels currently operates InterContinental The Grand hotels in the major cities of India.
Dubai Ventures is the equity investment arm of Dubai Investment Group (DIG), and invests across the world, but predominantly focuses on Asia.
Bharat Hotels currently operates InterContinental The Grand hotels in the major cities of India.
Dubai Ventures is the equity investment arm of Dubai Investment Group (DIG), and invests across the world, but predominantly focuses on Asia.
Thursday, May 24, 2007
Temasek, GIC get nod to buy ICICI stake
RBI will allow Temasek and Governement of Singapore Investment Corporation (GIC) to acquire 10% each in ICICI bank, but calls it a "one-off-case".
The move ssumes significance considering the ICICI Bank's $5 billion equity offering in June.
RBI had earlier said that Temasek and GIC are both related entities and could together hold a maximum stake of 10%.
The move ssumes significance considering the ICICI Bank's $5 billion equity offering in June.
RBI had earlier said that Temasek and GIC are both related entities and could together hold a maximum stake of 10%.
Bharti in global telecom top 10 list.
Bharti joins the top 10 gloabl list of telecom operators with a subscriber base of over 40m in India. It is expected to touch 130 million by 2010 as growth remain unabated in the fastest growing telecom market.
Others in top 10: China (China Mobile, China Unicom) USA(Cingular, Verizon, Sprint) Japan (NTT DoCoMo)
Others in top 10: China (China Mobile, China Unicom) USA(Cingular, Verizon, Sprint) Japan (NTT DoCoMo)
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