If you are facing a tight liquidity crunch, one of the options you can look at is to sell property or shares and bring in some money to the coffers. Indian Oil Corporation, India’s biggest refiner and marketer, faced with a cash crunch owing to the spiralling oil prices, is doing exactly that. The state-owned [...]
Tatas are knocking at the doors of their own shareholders yet again to raise funds for its latest global buy. After having raised more than $2 billion last year through a mix of rights issue and convertible preference shares for Tata Steel’s buy of Corus, this time the group is looking at an innovative rights [...]
It’s not a done deal for Sun Pharmaceuticals. The Mumbai based pharma company’s last year’s $454 million deal to acquire Israel’s Taro Pharmaceutical Industries has been called off as the latter developed cold feet over offer price. Taro said in a statement today that the agreement had become “stale” and did not reflect the “dramatic [...]
Is software product space coming back to fashion, after several venture funds burnt their fingers in 2000? Mumbai-based Miles Software Solutions, which has made a software product for financial services industry, has received an undisclosed amount of investment from Zephyr Peacock India Fund (ZP), an India focused private equity fund.
Moneyware Integra, the company’s flagship product, [...]
Anil Nanda’s real estate firm Akme Projects has struck a joint venture with German-Swiss private equity firm MPC Synergy Real Estate to develop seven premium housing projects with an investment of about Rs 1,000 crore. For MPC, this would be part of its plan to invest $1 billion in Indian real estate sector in the [...]
The buzz is that Arun Sarin, the high profile CEO of Vodafone Plc who has announced his retirement from the world’s largest telecommunications company, may join a private equity fund (KKR, anyone?). Sarin, who steps down on July 29, is not getting back to another job immediately. He would be taking a sabbatical, travelling, and [...]
Telecom is the current dominant theme in deal circles (when was it not?). After the multi billion deal talks between South Africa’s MTN, Bharti Airtel and lately Reliance Communications, here is another deal that is brewing in the communications space, although not in that league. The BK Modi group is reportedly looking at exit options [...]
Dubai Ports World (DP World), who already owns 75 per cent stake DP World Chennai, which operates the private container terminal at Chennai port, wants to buy out the remaining 25 per cent from its partners, The Hindu Business Line reported. This will make DP World the 100-per cent owner of the terminal. India allows [...]
The Reliance-MTN deal looks like going the way of a sell-off for the Indian telco. Interestingly, a media report had suggested, quoting a source close to Reliance Communications (RCOM), that the deal would be neither an acquisition nor a merger. Then what is it? Probably, it is a sell-off for Reliance.
If MTN picks up a [...]
United New Media Ventures Ltd (UNMVL), a subsidiary of UTV Software Communications Ltd, has acquired a 76 per cent in IMPL, the company that owns tech portal ITNation, for Rs 15 crore. The acquisition was done by a combination of issue of fresh equity shares of ITNation and also the stake from the existing promoters. [...]
Reliance Technology Ventures Ltd (RTVL), the corporate venture capital arm of the Reliance ADA Group, has co-invested along with other global venture funds in a US-based mobile- and web-based social networking company Pelago Inc. Some media reports that the company received an investment of $15 million in this round (it had got $7.4 million in [...]
Some large shareholders like ICICI Bank in India’s leading publicly listed BPO FirstSource Solutions are reportedly exiting. And who all are in the reckoning to buy the stake? A host of firms such as the NYSE-listed WNS (Holdings), the second largest business process outsourcing firm in India, in which private equity firm Warburg Pincus is [...]
Morgan Stanley has said it would invest a 20 per cent of its recently closed $4-billion global infrastructure fund in non-OECD markets like India and China. The top officials of the fund told a news magazine that India and China in particular will be the clear focus among Asian countries and they will attract “large [...]
Doha Bank Ltd, the leading bank of Qatar, announced that it has acquired a 49 per cent stake in an Indian brokerage firm, the bank informed the Doha Securities Market, according to a report by Bloomberg. The bank did not divulge the deal value or name of the brokerage. Last year Doha Bank had acquired [...]
Citigroup has got a replacement for Devinjit Singh who recently quit to join as a Managing Director with US private equity fund Carlyle Group (see our post). The US bank has named Sameer Nath to head its mergers and acquisitions business in India, succeeding Singh, Reuters reported quoting an internal memo. Nath will report to [...]
