Alexandria Real Estate Looks To Invest $1B In India – Alexandria Real Estate Equities is setting the stage for a $1-billion rollout in India. The US-based NYSE-listed multi-billion-dollar real estate investment trust (RIET) focuses on owing the real estate and related infrastructure for the healthcare sector, is understood to be in advanced stages of owning at least 15 multi-specialty hospital properties in India. Alexandria is in fairly advanced discussions with major healthcare players in India in an effort to either take over the real estate assets on which the hospitals stand or make significant inroads in putting up greenfield projects. (Business Standard)
Maini Global Raises $10M In PE Funding – Maini Global Aerospace (MGA) has raised $10 million from an overseas private equity fund. MGA, owned by the Maini group best known as the maker of country’s first ever electric passenger car Reva, will use this first round of funding to build an aerospace manufacturing factory and expand its capacity. MGA is also scouting for additional funding of $50 million to execute outsourced projects from a slew of global customers such as Safran, BAE Systems, Eaton, Goodrich, Magellan and Parker Aerospace. (Economic Times)
GVK To Offload Minority Stake In Singapore Unit – The GVK Group, which runs airports, roads and power plants in India, is on course to offload a minority stake in its Singapore subsidiary to raise funds for its Australian projects. The group plans to deploy the proceeds from the 20% stake sale in GVK Coal Developers for meeting its equity commitments to develop coal mines, a railway line and a seaport in Australia where GVK Coal acquired majority stake from the Hancock group in September for $1.26 billion. (Economic Times)
Valle de Vin, Grover Vineyards To Merge – Nashik-based Valle de Vin, maker of Zampa wines, will merge with Bangalore-based Grover Vineyards within a month to create the country’s second largest vintner after Sula Vineyards. The merged company will be called Gover Zampa Pvt Ltd. Grover Vineyards owner Kapil Grower, Valle de Vin co-owner Ravi Jain and himself will make up the executive committee to manage the merged entity. The companies have roped in a PE player to buy out 21% stake in Grover Vineyards being held by French luxury goods maker LVMH and the country’s top wine distributor Brindco. (Economic Times)
NTPC May Join Coal Logistics JV – Power major NTPC is likely to join the coal logistics joint venture proposed by Coal India (CIL) and Shipping Corporation of India (SCI). Coal India and SCI are banking on NTPC, a major buyer of imported coal. NTPC aims to import 16 million tonnes of coal during the current year to meet its feedstock requirement. The power generating company, however, wants to restrict coal imports to 10% of its total consumption to keep power price in check. CIL has said it wants to deliver imported coal at the doorsteps of customers through a SPV in which likeminded companies will also join. (Economic Times)
SAIL In Talks To Buy Coal Mines In Aus, NZ – The country’s largest public sector steel maker, Steel Authority of India, is in talks with two or three possible targets in Australia and New Zealand to secure overseas sources of coking coal necessary to fire its furnaces. The country’s largest steel maker by production expects to finalise at least one acquisition by the end of this financial year. (Financial Chronicle)
NSR Looks At Medical Equipment Players – Private equity firm New Silk Route Growth Capital is looking to invest Rs 1,000-1,500 crore in medical devices firms in India. NSR, which manages a fund of Rs 7,000 crore, is a later stage investor and bets on mid-sized businesses to scale up operations. NSR is looking at building a large medical devices company by acquiring 2-3 small or mid-sized medical devices firms, putting them together and making them more efficient. It will invest about Rs 250-500 crore in each of these companies. The company is in talks with a few medical devices manufacturers in India and hopes to close a few deals in the next few months. (Financial Chronicle)
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