The saga of buying out high-end office space in Mumbai continues. In a latest development, Mumbai-based education company, Core Projects and Technologies, is in talks with the leading plastic goods maker Supreme Industries to buy out the office property developed by the latter in the Andheri area of Mumbai. The deal could be worth Rs 350 crore (Rs 3.5 billion) in value, said sources close to the development.
Providence had bought 15 per cent in Idea Cellular in 2006 for around Rs 1,800 crore (Rs 18 billion) through its investment arm - P5 Asia Investment (Mauritius).
Six months after the Paras deal, Actis wants to exit Sterling Hospitals, a Gujarat-based multi-speciality hospital chain with six centres, according to three independent sources in the know.
Tax liability insurance is a key negotiation tool used by companies and advisers when a potential tax exposure has been identified and neither party is willing to bear the risk.
The interested companies include Emami and Dabur.
The anti-depressant drug market in the US is primarily ruled by Effexor XR (Venlafaxine) of Wyeth (now owned by Pfizer).
If the deal materialises, Angel will have to pay at least Rs 800-1,000 crore (Rs 8-10 billion) for a 51 per cent stake, valuing the brokerage at Rs 1,500-2,000 crore (Rs 15-20 billion). The talks are at an early stage.
The rise in material prices and excise duty is set to raise the prices of liquor brands across the country. According to officials of various companies, the brands will be costlier by 15-20 per cent from April.
The Chhabria-promoted Rs 1,200 crore (Rs 12 billion) Allied Blenders & Distillers will launch two brandy brands in South India next month.
Consolidation seems to the key word among private equity (PE) backed companies. In the first few months of 2011, about 20 merger & acquisition (M&A) deals worth $150 million took place.
Luckily for him, the bumps on the way got forgotten, thanks to his expertise in earning high returns for investors through patient exits.
Gati Coast to Coast was set up in 1986 as a service provider for all sea-bound cargo in the Bay of Bengal, Andaman Islands and Malacca Straits.
Macquarie-SBI Infrastructure Fund (MSIF), one of the largest in this category in India, run by Macquarie SBI Infrastructure Management Pvt Ltd (MSIT), is in an advanced stage of talks with a shipping port company to make an investment of about Rs 1,000 crore ($200-220 million).
Gitanjali Gems plans to hive off various businesses.
The automobile services segment, from radio taxi services to used cars, is seeing increased interest from venture capital (VC) investors.
"Kraft's acquisition of Cadbury is a global acquisition, where some value is attributable to India. This is different from Vodafone, where the transfer of a single share of the offshore company by Hutch resulted in the Indian business getting transferred to Vodafone," said Pranay Bhatia, associate partner at legal firm Economic Laws Practice.
"A lot of PE investors are interested in renewable energy and we are exploring PE investments for our wind energy initiatives," said Thomas John Muthoot, chairman and managing director.
Private equity company Actis is in talks with Isuzu Motors for exiting automobile company Swaraj Mazda. According to sources, though Actis has been looking to exit for quite sometime, the deal is stuck over difference in valuation.
In the changed scenario of Indian private equity, where institutions and individuals are busy with fund raising, the fund houses are exploring untapped markets.
In the latest annual report posted on its website, Danone has said it is negotiating with its partner with a view to selling its 25.5 per cent indirect stake in Britannia.
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