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News Roundup: KKR, Goldman set to exit TVS Logistics and other stories

04 May, 2016

Private equity firm Kohlberg Kravis Roberts & Co. Ltd (KKR) and investment banking giant Goldman Sachs are planning to sell their entire 44% stake in Chennai-based TVS Logistics Services Ltd for an estimated $250 million (around Rs 1,500 crore).

The two investors have mandated JM Financial for the planned sale that could value the company just below Rs 3,500 crore, reports The Times of India, citing people familiar with the matter.

The development came after TVS Logistics shelved its plans for an initial public offering, which was expected this year. Carlyle, Bain Capital, GIC of Singapore, Dubai-based Abraaj Capital and US PE firm Advent International have shown interest in the share sale, the report said.

Goldman Sachs has been an investor in TVS Logistics for eight years and KKR for three years.

Everstone Capital to list warehousing and logistics assets as REIT

Homegrown PE firm Everstone Capital plans to list its warehousing and logistics assets worth $2-2.5 billion as a Real Estate Investment Trust (REIT).

The firm has appointed investment bank Citi and property consultancy firm Jones Lang Lasalle to help it with its Singapore and Indian listings, reports The Economic Times, citing people involved in the process.

Everstone has the largest industrial real estate portfolio in India with around 8.5 million sq ft of property under IndoSpace, its joint venture with Realterm Global. Its tenants include Nissan, Procter & Gamble, Samsung and Levi’s. Everstone is also looking to raise more than $3 billion through IndoSpace over the next four years, the report said.

Snapdeal in talks to buy Housing.com

E-commerce marketplace Snapdeal is in talks to acquire property portal Housing.com in a deal that could be worth around $50-100 million.

The Hindu Business Line, which reported the development citing sources and investment bankers it didn’t name, said it is not clear whether Snapdeal will completely acquire the digital real-estate firm or only a controlling stake in it and let it run independently.

Both Snapdeal and Housing.com are backed by SoftBank and Nexus Venture Partners. Besides, Snapdeal founders Kunal Bahl and Rohit Bansal are angel investors in Housing.com.

Krishna Institute of Medical Sciences mulls IPO

Hyderabad-based hospital chain Krishna Institute of Medical Sciences Ltd is looking to float an initial public offering (IPO) next year to raise about Rs 600 crore.

The proposed IPO could see private equity firm ICICI Venture sell part of its 28% stake in the firm, reports the Mint, citing two people aware of the development.

Started in 1996, KIMS has around 1,800 beds across five super-specialty hospitals in Telangana and Andhra Pradesh. In the healthcare sector, Aster DM Healthcare and New Delhi-based Centre for Sight have also announced plans to go public. Dr Lal Pathlabs Ltd, Narayana Hrudayalaya Ltd, HealthCare Global Enterprises Ltd and Thyrocare Technologies Ltd have floated IPOs over the past few months.

Aviva Plc hikes stake in Indian JV with Dabur to 49%

UK-based insurer Aviva Plc said it has raised its stake in Aviva Life Insurance Company India to 49% by acquiring an additional 23% from joint venture partner Dabur Invest Corp.

The move comes after the government last year allowed foreign investors to hold up to 49% stake in insurance companies in the country, from 26% earlier. 


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News Roundup: KKR, Goldman set to exit TVS Logistics and other stories

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