Baring, RMZ Near Rs 500Cr Bangalore IT Park Deal – Private equity (PE) firm Baring Private Equity Partners (BPEP) is investing $100 million (Rs 500 crore) in South India’s largest office space builder RMZ Corp. The PE player will back RMZ Corp’s acquisition of an office space project of 6 million sq ft in the technology hub of Bangalore. RMZ Corp is buying out the 50-acre office development Adarsh Prime Projects in a deal valued at Rs 1,080 crore. (Times of India)
GIC Real Estate To Invest $100M In Godrej – GIC Real Estate, a part of Singapore government’s sovereign fund GIC, is investing over $100 million in a Godrej Properties office project in Mumbai’s Bandra Kurla Complex. The project is being developed on a 2.5-acre land, for which Godrej Properties had signed a joint development agreement with Jet Airways. (Economic Times)
AU Financiers In Talks With Carlyle, Warburg Pincus – Au Financiers (India) Pvt. Ltd, a Jaipur-headquartered non-banking financial company (NBFC), is in talks with private equity (PE) investors for a third round of primary funding. The company has initiated talks with Warburg Pincus India Pvt. Ltd, Carlyle India Advisors Pvt. Ltd and other investors. (Mint)
Binani Buys Belgian Fibreglass Co – Binani Industries Limited (BIL), the holding company of the $1.6-billion Braj Binani Group, has acquired 3B, a Belgian fibreglass major, for euro 275 million. This is the third such global acquisition of the group in six years. Last year, the group acquired US-based composite maker CPI Inc. Binani Industries has acquired the entire equity interest in 3B from private equity investor Platinum Equity. (Business Standard)
Sidbi Gives Rs 100Cr Loan To SKS – Small Industries Development Bank of India (Sidbi), the apex lender to small firms, has issued a Rs. 100 crore term loan to the country’s lone listed microlender, SKS Microfinance Ltd. This is the first major bank loan given to any microlender based in Andhra Pradesh since banks stopped lending to microfinance institutions (MFIs) after a state law triggered a crisis in the sector in October 2010. (Mint)
ICICI Bank To Recast Rs 1,300Cr Loans This Quarter – ICICI Bank, the country’s largest private sector lender, is likely to restructure Rs 1,300 crore of loans in the current January-March quarter. Key accounts expected to be part of the exercise include those of GTL and 3i Infotech. The bank’s net restructured loan portfolio was estimated at Rs 3,070 crore as of December 31. (Business Standard)
Walt Disney Buys Controlling Stake In UTV – Walt Disney Co. acquired a controlling interest in UTV Software Communications Ltd, one of India’s leading media and entertainment companies, through a buyout that will enable the US company to further establish itself in the South Asian country’s television and movie business. The acquisition is being made through a subsidiary and UTV will be delisted and renamed as part of the plan that was announced by Disney in July.