Al Gore’s Generation Investments Plans $500M Asia Fund – Al Gore’s Generation Investment Management LLP, which buys shares of companies it deems socially responsible, aims to start a $500 million fund to invest in Asia. The fund may start by July and will buy shares of Asian companies that adhere to Generation’s investment guidelines of focusing on “economic, social and environmental” sustainability. Generation is looking to invest in China and India with this fund being separate from its venture-capital business. (Bloomberg)
Bertelsmann Unit Acquires 55% In Maxposure Media – One of the world’s largest media groups, Bertelsmann is set to enter the Rs 1,000-crore English magazine market in India acquiring a controlling stake in the Delhi-based Maxposure Media Group which publishes lifestyle, fashion, beauty, entertainment, real estate and travel magazines. The German group’s subsidiary Gruner+Jahr (G+J) International Magazines will buy 55% in Maxposure from its promoters, the Johari family for around Rs 7.6 crore. Bertelsmann holds around 75% stake in G+J, which also owns Brown Printing Company, a US publishing firm. G+J has already set up a wholly owned subsidiary in India. (Financial Express)
Shree Ashtavinayak Forms JV For Film City – Entertainment firm Shree Ashtavinayak Cine Vision is joining hands with a little-known business group LFS Global for a multi-billion dollar project to build India’s largest film city near Mumbai modeled on the lines of Hollywood’s Universal Studios. LFS Global will own a majority stake in the venture and Shree Ashtavinayak will have a small equity exposure in the project that will absorb investments of Rs 15,000 crore spread over 7-10 years. LFS Global will rope in other private equity partners and investors to fund this project. (Economic Times)
Su-Kam To Raise Rs 200Cr Through PE, IPO – Power products maker Su-Kam today said it will raise around Rs 200 crore within next six months for which it is looking at various options, including listing the firm on stock exchanges. The company also plans to achieve sales of Rs 1,000 crore by next fiscal. Reliance India Power Fund — a private equity fund sponsored jointly by Anil Ambani-led Reliance Group and Singapore-based Temasek Holdings (Temasek) has a stake of 19% in Su-Kam. (Business Standard)
BP In Talks To Buy Stake In RIL Block – London-based BP Plc is in talks with Reliance Industries Ltd (RIL) to buy a significant stake in the D6 hydrocarbon block in the Krishna-Godavari (KG) basin. BP is in talks with RIL for acquiring between 30% to 45% stake in the D6 block. The Mukesh Ambani-owned firm holds a 90% stake in the KG D6 field off the eastern coast of India, which was hailed as the world’s largest natural gas discovery in 2002. Canadian hydrocarbon explorer Niko Resources Ltd owns the remaining 10% stake. (Mint)
General Atlantic, Jardine Rothschild In Talks For Healthcare Deals – Private equity majors General Atlantic Partners (GAP) and Jardine Rothschild are in talks with healthcare service providers. General Atlantic is holding discussions to buy $100 million, or Rs 450 crore, stake in DM Healthcare spearheaded by Dubai-based medical entrepreneur Dr Azad Moopen. Jardine Rothschild Asia Capital, a private equity joint venture between Jardines and the Rothschilds, is in the fray for $50 million, or around Rs 200 crore, investment in Hyderabad-based Quality Care, which operates a network of 12 hospital under the Care brand. (Times of India)
Allsec Acquires US-based Retreat Capital – Allsec Technologies Ltd, a Chennai-based Business Process Outsourcing (BPO) service provider, is set to acquire a US-based mortgage servicing business company, Retreat Capital Management Inc, to expand into new verticals. The company has signed an agreement to acquire 100 per cent of the US firm and is expected to close the deal in the next 15 days. (Business Standard)
Money Matters Exits PE Business – Money Matters Financial Services today said that it has terminated the joint venture (JV) with the private equity firm Milestone Capital. The board of the company has terminated the joint venture with Milestone Capital Advisors and has winded-up the special opportunity fund. The board of directors have also cancelled the capital commitment as a sponsor to Money Matters Venture Capital Fund, the filing added. (HinduBusinessLine)
SKIL Infra Pledges Everonn Stake – Nikhil Gandhi’s Skil Infrastructure, which has recently become the co-promoter of Chennai-based education company Everonn Education, has pledged almost its entire holdings of 21.02% in the company. Skil has pledged about 39.11 lakh shares out of its total holdings of 40 lakh shares, which translates into 97.78% of its total holdings. (Financial Chronicle)
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