News Roundup: Avantha Power Gets $120M From KKR, Promoters

04 August, 2011

Avantha Power Gets $120M From KKR, Promoters – US private equity firm Kohlberg Kravis & Roberts (KKR) and the promoter of Avantha Power & Infrastructure Ltd (APIL) will invest $120 million in the Indian company. KKR, which had invested $50 million in October to acquire 9% stake in Gautam Thapar-controlled Avantha Power, will acquire additional 11% equity shares for $75 million. The promoter’s holding firms will make a fresh investment of $45 million. Last fiscal, the company was planning to go public with a Rs 1,100-crore offering but did not as the market had turned bearish. (Economic Times)

India Equity Partners Eyes More Buys In Frozen Foods – New-York based private equity firm India Equity Partners (IEP) is looking at buys in snacks, spices and health-related equities such as fruit-based products. In February, India Equity Partners had bought out the Tata-group controlled Innovative Foods, which retails the Sumeru brand of frozen paranthas, peas and sea food products. IEP is looking to scale up the Kochi-based firm into a Rs 200-crore player in four to five years’ time. (Business Line)

Biyani Looks For Foreign Partner – The Kishore Biyani-controlled Future Group, the country’s largest retail chain, has marked Ezone as its first target for a partnership with a foreign player. This might be the group’s first tie-up with a foreign company after a committee of secretaries recently approved a proposal to increase the limit of foreign direct investment (FDI) in multi-brand retail to 51%. Ezone, which has more than 45 stores across India. (Business Standard)

GMR To Bid For Spanish Airports – Bangalore-based GMR group is considering placing bids for operating the two leading airports in Spain: Madrid Barajas and Barcelona’s El Prat. Both airports handle around 70 million passengers a year and have a capacity to handle 125 million passengers. The base price for the bidding has been fixed at $5.2 billion for the Madrid airport and about $2.2 billion for Barcelona. The successful bidders also have to pay an annual fee, which is 20 per cent of the airports’ revenue. (Business Standard)

Essar To Invest $750M In Zimbabwe Unit – Essar Africa Holdings Ltd will invest $750 million to retart production at steel firm Zisco in Zimbabwe. The company said the deal has been concluded and the company will now be called NewZim Steel Private Ltd. The mining company will be called NewZim Minerals Private Ltd. (Business Standard)

Manoj Tirodkar, ICICI Bank Discuss Settlement – Troubled GTL promoter Manoj Tirodkar and ICICI Bank are discussing a settlement after the latter opposed merger between the Mumbai-based group’s telecom tower arms, GTL Infrastructure, and Chennai Network Infrastructure (CNIL). India’s largest private sector lender wants to be “consulted” before the companies proceed with the proposed merger, which has already received the shareholder nod. Last week, ICICI Bank took 29.3% stake in the telecom infrastructure group’s flagship GTL converting pledged shares into equity after the stock tanked. (Times of India)

NMDC To Make Offer For Brazil’s Greystone – Due diligence over, NMDC is set to make the offer for buying stake in Greystone Mineracao do Brasil Limitada, which has mining licence area in the Brazilian state of Bahia. The company is hopeful of clinching the deal shortly. A UK-based mining company holds an exercisable option to buy 100 per cent stake in Greystone at a value within $150 million. (Business Line)


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KKR investing $100M in Gautam Thapar's Avantha Group

KKR investing $100M in Gautam Thapar’s Avantha Group

Bhawna Gupta 4 years ago
Private equity major KKR has signed an agreement with Gautam Thapar-promoted Avantha Group to invest Rs 630 crore ($100 million) in the group’s holding company...
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TEAM VCC 1 year ago
KKR Buys 9% In Avantha Power For Rs 217Cr – Private equity major Kohlberg Kravis & Roberts (KKR) has picked up a 9% stake in...
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Madhav A Chanchani 4 years ago
AION Capital Partners, a special situations investor, has invested around $150 million in the holding company of Gautam Thapar-promoted Avantha Group, said sources familiar with the...
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News Roundup: Avantha Power Gets $120M From KKR, Promoters

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