| Log in

News Roundup: Aricent Sells 17.63 Acre Gurgaon Land For Rs 206Cr

03 June, 2011

Aricent Sells 17.63 Acre Gurgaon Land For Rs 206Cr– Aricent group, a telecommunications research and development firm, has sold a prime plot of land in Gurgaon to local real estate firm, Ambience Developers, for Rs 206 crore. Ambience pipped DLF , Shapoorji Pallonji and AlphaG Corp to buy the 17.63 acre land on the Old Gurgaon Highway. Private equity firms Kohlberg Kravis Roberts & Co, Sequoia Capital and others are investors in Aricent, which was created in 2006 when the former Hughes Software Systems/Flextronics Software Division was combined with frog design. (Economic Times)

Dynamatic Acquires German Auto Component Maker – Dynamatic Technologies , an Indian components manufacturer for Airbus SAS, Deere & Co and Ford Motor Co said it acquired German automotive component maker Eisenwerke Erla GmbH. Dynamatic, run by entrepreneur Udayant Malhoutra, acquired the company from Chennai-based Sanmar Group, who had bought over Eisenwerke in January 2007. The 630-year-old Eisenwerke, which supplies to global automobile majors such as Audi , BMW , Volkswagen and Daimler , earns revenues of over 100 million euros. It has manufacturing facilities in the German town of Erla and in Chennai. (Economic Times)

Reliance Equity To Raise $250-300M For Overseas Fund – Reliance Equity Advisors (India) Ltd, the private equity (PE) arm of Anil Ambani-led Reliance Group, plans to start a $250-300 million (Rs.1,125-1, 350 crore) fund by the end of the year. The company is currently investing from its $220 million domestic fund that raised money from institutions and a few rich individuals.

Indiareit Plans Rental Yield, Domestic Fund – 3i Group Plc-backed Indiareit Fund Advisors Pvt plans to start a commercial rental yield fund and a domestic debt fund in the next few months as borrowing costs rise for developers and the office market picks up. The company will also spend $55 million in three residential developments in North Mumbai’s Versova area and in Bangalore, while pulling out of an Rs 82.5 crore project in central Mumbai. Indiareit said in December it plans to raise about $622 million in three new funds that will invest in properties across the nation’s major cities. (Bloomberg)

WestBridge Gets $200M Commitment From Investors – WestBridge Capital Partners, which was revived during mid-February 2011, is understood to have got soft commitments to the tune of $200 million within a period of just three months from a range of global bluechip limited partners who are looking to deploy their resources in India. WestBridge is expected to get commitments of $500 million by the end of 2011. K P Balaraj, Sandeep Singhal, S K Jain and Sumir Chadha, the four founding partners of WestBridge split from Sequoia India to set up this new fund which will exclusively focus on taking positions in publicly-held Indian companies. (Business Standard)

K Sera Sera Buys 8.77% In Citigold Corp – Film production and distribution firm K Sera Sera Ltd (KSS) today said it has increased its stake in Australian gold producer Citigold Corporation Ltd to 8.77 per cent by buying additional 3.75 crore equity shares for A$ 3.37 million (about Rs 16 crore). The share purchase deal has been made through KSS’s wholly—owned subsidiary K Sera Sera Holdings Pty Ltd (KSSA). With this investment, KSSA becomes the single largest shareholder of Citigold Corporation having invested a total amount of A$10.3 million. (BusinessLine)


Leave Your Comment
Dynamatic Tech Acquires German Auto Component Firm Eisenwerke Erla

Dynamatic Tech Acquires German Auto Component Firm Eisenwerke Erla

TEAM VCC 6 years ago
Mid-size engineering firm Dynamatic Technologies Ltd has acquired German...
Samena Capital Ups Stake In Dynamatic Technologies

Samena Capital Ups Stake In Dynamatic Technologies

TEAM VCC 6 years ago
Samena Special Situations Fund has increased its stake in engineering firm...
Unitech sells two land parcels in Gurgaon, in talks to sell more

Unitech sells two land parcels in Gurgaon, in talks to sell more

Lohit Jagwani 3 years ago
Unitech Ltd, the third-largest realtor in the country according to market...
No Comments

News Roundup: Aricent Sells 17.63 Acre Gurgaon Land For Rs 206Cr

Powered by WordPress.com VIP