Mumbai-based Godrej group is looking at acquisitions in Brazil and Indonesia, specifically in the areas of personal care and household care. On the other hand, the group is close to acquiring a household insecticide company in China through its joint venture Godrej Sara Lee, and is evaluating investment options in other developing markets in Africa [...]
This deal was earlier reported in May. Now there is an official announcement. IDFC has acquired a 33.33 per cent stake in Mumbai-based investment banking and corporate advisory firm SSKI for Rs 100 crore. The Morakhia family and employees will own the remaining 66.67 per cent stake of the privately-held company. IDFC will have two [...]
This is good news. India is the new Asian tiger if things go like this. Indian economy grew at 8.9 per cent, the highest ever Q1 growth since 2000-01. A strong growth in services and manufacturing has helped the Indian economy beat all forecasts with 8.9 per cent growth during the April-June quarter.
The rate of [...]
Real estate giant DLF Group is likely to file a new IPO prospectus with market regulator Securities Exchange Board of India. The filing is expected by end of October or early November this year. DLF had withdrwan its IPO prospectus after it failed to get a clearance from the regulatory authorities. The company had got [...]
Sri Adhikari Brothers Television Network Ltd (SABTNL), a Mumbai-based entertainment TV network, is planning to raise up to $15 million either through a domestic public issue or a private placement, reports Indiantelevision. The board has also approved routes like GDRs, ADRs or FCCBs. The company plans to set up a studio in Mumbai. We will [...]
India is set to attract $7 billion in private equity dollars by 2010, according to a research report by Bain & Co. Last year, India attracted $2.2 billion in PE money. India’s growing consumer class and the increasingly differentiated skill set are two major economic forces that will drive the estimated surge in the size [...]
Cairn India Ltd, the wholly-owned subsidiary of British oil and gas hunting and production firm Cairn Energy Plc, may go in for a pre-IPO placement with the International Finance Corporation. The stake sale is expected to fetch close to Rs 200 crore ($44.4 million). Cairn India’s assets are valued at anywhere between $2.5 billion and [...]
Business Standard has an interview with Renuka Ramnath, MD and CEO of ICICI Venture, a private equity fund with a total corpus of $810 million. It has invested in ventures like Pantaloon, Shoppers’ Stop and Subhiksha; in Internet firms like Naukri; media/entertainment firms like PVR Cinemas and TV Today; and in biotech with Biocon.
On Attitude [...]
Auto major Mahindra & Mahindra has made another big ticket acquisition overseas. M&M has acquired 68 per cent stake in a German forging firm Jeco Holding AG at an enterprise value of Rs 830 crore. The acquisition was made through M&M’s Mauritius subsidiary Systech. Jeco is one of the top five forging firms in Germany [...]
Vijaya Bank plans to acquire a smaller bank during the next financial year, reports The Financial Express. It will acquire an entity which gives the Karnataka-based bank a foothold in the northern region. A lot of banks are available in Maharashtra. Are there banks up for grabs in the North? Any ideas? [Via Yahoo Finance]
Wipro contiues to be active in M&A - let it be in software or in any other business it’s in. Wipro’s engineering arm has bought Swedish hydraulic components maker Hydrauto Group AB for $31 million in an all cash deal. The deal is likely to be completed by the end of 2006.
Wipro Infrastructure Engineering (WIN), [...]
Indian auto component companies are likely to go slow in making foreign acquisitions. The reason: European and American firms are quoting higher valuations. So leading auto component companies like Amtek Auto and Omax are believed to have cooled off their plans for acquisitions. Amtek Auto is believed to have cash reserves of about $300 million [...]
Four Soft Ltd, a Hyderabad-based transportation, logistics and supply chain management (SCM) software products company, is planning to make “at least two to three acquisitions” in a year’s time, reports DNA. It will look at companies in the verticals the company is present in already. It’s already close to making the first acquisition in Europe [...]
Offshore logistics company Sical Logistics would acquire Singapore-based Bergen Offshore Logistics Pte Ltd for a consideration of $96.9 million. Bergen is a provider of specialised logistics for offshore oil and gas exploration. Sical’s acquisition would be funded through the company’s recent $16.9 million FCCB offering and a structured loan of $80 million from NIBC Bank, [...]
This investment had happened in January since I had reported this then. In January this year, the government had cleared an FDI proposal from New Vernon Bharat to invest about $10 million in Eastern Condiments, a Kerala-based Masala maker. Here is the official announcement on the deal from Kochi.
New Vernon is picking up about 15 [...]
