Global private equity firms, including Blackstone and Carlyle Group, have made an investment of $3.8 billion in 2007 so far in the country, up 50 per cent from the year-ago period.
The record volume has been reached through 81 M&A deals. Last year, foreign private equity players had invested $2.6 billion, data compiled by global consulting firm Dealogic showed.
Carlyle Group is the leading "financial sponsor" in India with investment of $777 million via two deals, including acquisition of over six per cent stake in HDFC.
It is followed by Dubai International Capital, which acquired a 2.87 per cent stake in ICICI Bank for $741 million, and Blackstone Group with $619 million inflow via eight deals.
Financial sponsor is a term commonly used to refer to private equity investment firms, particularly those engaged in leveraged buyout transactions.
Blackstone Group, the world's leading private equity firm, has acquired stake in companies such as Intelenet Global Services, Punj Lloyd and Gokaldas Exports.
The US-based Group has also decided to pump in $150 million to acquire a stake in Nagarjuna Construction Company. A move that comes close on the heels of its decision to acquire up to 70.1 per cent stake in Gokaldas Exports, the country's biggest apparel exporter, for about Rs 675 crore.
Blackstone Group manages around $90 billion of assets worldwide. In January, it invested about $275 million in Ushodaya Enterprises Ltd (UEL), a media and film production company owned by Ramoji Rao.
Source: (Economic Times)
Showing posts with label Nagarjuna Constructions. Show all posts
Showing posts with label Nagarjuna Constructions. Show all posts
Thursday, August 30, 2007
Blackstone to invest $150 mn in NCC
Yesterday's news.
Blackstone Group, the global private equity firm, will buy a 14.5 per cent stake in Hyderabad-based Nagarjuna Construction Company Limited (NCCL) for $150 million (about Rs 615 crore), one of the largest-ever foreign investments in the construction sector in India.
Blackstone will buy equity in two tranches, through an allotment of 20.24 million equity shares of Rs 2 each at a premium of Rs 200.50 (equivalent to about $100 million) and 9.1 million warrants (with an exercise period of 18 months) of Rs 225 a warrant, with each warrant convertible into a equity share of Rs 2 each at a premium of Rs 223 (equivalent to about $50 million).
Nagarjuna Construction intends to use the funds for additional investments in public-private infrastructure projects and to expand its capital base, which would help it bid for larger projects and strengthen its position in the market.
This is one of the largest investments by Blackstone in the construction sector.
This is the fourth deal by Blackstone in India this year. The company acquired majority control in Gokaldas Exports for about Rs 660 crore, the largest management buyout in the textiles industry.
It has invested $275 million in Ushodaya Enterprises, which runs the Eenadu newspaper and ETV franchise, and also had another management buyout of BPO firm Intelenet from Barclays and HDFC for Rs 840 crore.
(Source: Business Standard)
Blackstone Group, the global private equity firm, will buy a 14.5 per cent stake in Hyderabad-based Nagarjuna Construction Company Limited (NCCL) for $150 million (about Rs 615 crore), one of the largest-ever foreign investments in the construction sector in India.
Blackstone will buy equity in two tranches, through an allotment of 20.24 million equity shares of Rs 2 each at a premium of Rs 200.50 (equivalent to about $100 million) and 9.1 million warrants (with an exercise period of 18 months) of Rs 225 a warrant, with each warrant convertible into a equity share of Rs 2 each at a premium of Rs 223 (equivalent to about $50 million).
Nagarjuna Construction intends to use the funds for additional investments in public-private infrastructure projects and to expand its capital base, which would help it bid for larger projects and strengthen its position in the market.
This is one of the largest investments by Blackstone in the construction sector.
This is the fourth deal by Blackstone in India this year. The company acquired majority control in Gokaldas Exports for about Rs 660 crore, the largest management buyout in the textiles industry.
It has invested $275 million in Ushodaya Enterprises, which runs the Eenadu newspaper and ETV franchise, and also had another management buyout of BPO firm Intelenet from Barclays and HDFC for Rs 840 crore.
(Source: Business Standard)
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