This is for those who missed the story on VC investment in ContentNext Media. Alan Patricof’s Greycroft Partners has put in an “undisclosed amount” in ContentNext, which is the parent of three digital media news websites paidContent.org, Moconews.net, and ContentSutra (I blog for the latter two, especially the last one). ContentNext is based in [...]
Business Standard has flashed this story as the lead today. Vijay Mallya is readying a warchest of Euro 500 million to acquire a wine company in Europe. It has apparently shortlisted three companies in the UK and France. PricewaterhouseCoopers is doing the due diligence.
The company has tied up with a consortium of banks led by [...]
Hutchison Telecommunication (HTIL) has acquired the entire 5.11% Hinduja TMT stake in Hutchsion Essar for about $450 million, Business Standard reports quoting wire agencies. The deal is understood to have been signed. This will take HTIL’s direct holding in Hutchison Essar to almost 48%.
Go to article in Business Standard.
This could be a good move for pharma company Wockhardt - to scale up its medical nutrition brands business . The company has acquired Dumex India - which owns two baby food products Protinex and Farex, Wockhardt announced today. The financial details are not disclosed. The two brands generate annual sales of Rs 60 crore. [...]
Real estate project developers have upped their prices drastically and private equity funds are not liking it anymore. Nipun Sahni, India country head for the property arm of GE Commercial Finance, said at a conference in Singapore, “There’s a valuation mismatch. How much future growth can you price in today? Every Indian company can be [...]
Indian commodities trading is getting exciting. National Commodity & Derivatives Exchange Ltd is believed to have attracted interest from Goldman Sachs Group Inc., the world’s biggest securities firm, which plans to buy a stake. According to the Economic Times, Goldman has put in a bid for 10 per cent stake held by ICICI Bank in [...]
Private equity funded-Suzlon Energy is raising $1.1 billion from foreign markets. The company’s board has approved a proposal to raise Rs 5,000 crore through the issue of Foreign Currency Convertible Bonds (FCCBs) or other securities. Suzlon had recently made a big acquisition, and the fundraising could be to finance the buy. It had bought Belgium-based [...]
Manipal Health Systems, a premier south Indian healthcare company, has received an investment of Rs 90 crore ($20 million) from IDFC Private Equity Fund II. The group manages 3 tertiary care hospitals, 8 secondary care hospitals and 9 primary care centres in south India.
The funds will be used to expand its network beyond the south, [...]
What if the merger between AppLabs Technologies and VisualSoft hasn’t worked. The Hyderabad-based software testing company still has the confidence of its financial backers. Sequoia Capital India (formerly WestBridge Capital Partners) has invested another $10 million in the company. Earlier, WestBridge had invested $7 million. The total investment of Sequoia India in AppLabs will be [...]
Cleartrip.com, an online travel company, has officially announced the funding from Kleiner Perkins and Sherpalo Ventures of Ram Shriram. The company is set to launch its operations on July 4. Cleartrip was on a stealth mode till now. Sandeep Murthy is the CEO. The investment may be in the range of $2-3 million.
For more read [...]
Munesh Khanna has resigned as co-head of investment banking at Enam Financial Consultants. It’s surprising since Khanna joined Enam only in November and the tenure is as short as eight months. Prior to Enam, Khanna was with NM Rothschild as country head and managing director, and before that with Arthur Andersen where he was heading [...]
GEM India Advisors has picked up a minority stake of 6 per cent in Ramesh Vangal’s alcoholic beverages company Mason & Summers. The later is making a bid for Mohan Meakin’s beer business (I guess it’s Kalyani brand), and has emerged as the highest bidder with Rs 250 crore.
GEM, on the other hand, is upbeat [...]
Jet Airways’ Naresh Goyal puts the partial blame on the government’s unclear policy on airline M&A for the failure of the Jet-Sahara deal. In a media statement, the company said the agreement between Jet and Sahara was contingent on certain conditions being satisfied before the due date of June 21. The government had decided [...]
International Finance Corporation (IFC), the investment arm of World Bank, is looking at making an equity-cum-debt deal of $15 million in Indian coffee chain — Cafe Coffee Day (CCD). IFC may investment $5 million for equity, and the rest $10 million as long term debt. The investment will be done in the parent company [...]
German’s HeidelbergCement is close to acquiring a 30 per cent stake in Mysore Cements, an SK Birla group company. Although the financial deals are being worked out, the report says the deal could be worth Rs 200-250 crore.
The SK Birla family holds 24.1 per cent in the 2.1 million tonne Mysore Cements, while private corporate [...]
