Falguni Nayar Quits Kotak, To Start Own Venture - Falguni Nayar, managing director of Kotak Mahindra Capital Company (KMCC), and the face of Kotak’s investment banking, has decided to quit the company to pursue her own entrepreneurial venture. She will however continue to serve as an advisor with the group. Her entrepreneurial venture will be something outside financial services. Nayar was instrumental in initial public offers such as Coal India, DLF and small IPOs such as Jubilant Food Works. She was also involved with JSW and Ispat deal, Reliance de-merger and Tata Steel’s QIP, to name a few. (Financial Chronicle)
Daiichi Sankyo In Talks For Another India Buyout - Japan's biggest pharmaceutical company Daiichi Sankyo has initiated buyout talks with at least three mid-sized firms in India, nearly four years after it acquired a majority stake in the generic drugmaker Ranbaxy Laboratories. The target firms have a product portfolio straddling anti-diabetes, rheumatology and woman's healthcare. Daiichi Sankyo is focusing primarily on firms with an annual turnover of Rs 300-500 crore and it has appointed IMS Consulting Services for the purpose. In 2008, it had acquired a little more than 60% stake in Ranbaxy Laboratories for $4.6 billion. (Economic Times)
Strides Arcolab Gets Offers Worth Rs 1,250Cr For Domestic Biz - Bangalore-based Strides Arcolab has received more than ten offers for parts of its domestic generic pharmaceuticals business, the highest of which could value the units being sold at over Rs 1250 crore. Strides Arcolab is selling its softgel manufacturing units, its antiretroviral (ARV) therapy drug pipeline and parts of its Contract Research & Manufacturing Operations (CRAMS) as it looks to concentrate on its core business of injectable drugs. (Economic Times)
IDFC Project Equity Buys Stake Sahyadri - An arm of Infrastructure Development Finance Company (IDFC) is set to acquire ICICI Venture’s nearly 50% stake in Pune-based Sahyadri Hospitals, which operates 10 hospitals across four cities in Maharashtra. IDFC Project Equity will value the hospital network at about Rs 300 crore. Sahyadri is among the top regional healthcare chains with 900 beds in Navi Mumbai, Pune, Nashik and Karad. (Times of India)
ReGen Powertech Gets Rs 100Cr From MCap, IDFC PE - Private equity honcho Subbu Subramaniam, who split from Baring three years ago and founded MCap Fund Advisors in 2010, has struck his maiden pure-play PE deal in South-based ReGen Powertech. MCap, along with IDFC’s private equity arm, is investing Rs 100 crore in the wind- turbine manufacturer, valuing the company at Rs 1,600 crore. So far MCap’s investments have been in listed securities, Jyothy Laboratories and City Union Bank. (Times of India)
Thomas Cook's India Arm On Block - Tour operator Thomas Cook Group Plc is looking to sell its profitable India unit to retire debt, and will ask potential buyers for bids starting Thursday. The UK-based firm has hired Credit Suisse Group AG to help sell Thomas Cook (India) Ltd. Potential bidders for the India unit include rival Cox and Kings Ltd and a clutch of private equity firms such as KKR India Advisors Pvt. Ltd, Actis Advisors Pvt. Ltd, Bain Capital and Carlyle Group and the UK firm is looking to close the transaction by May.
Piramal Healthcare Eyes Buys In Home Finance, Security - Piramal Healthcare Ltd will look at acquisitions in housing finance and defence (security systems), in an attempt to diversify after selling its local formulation business two years ago.Having acquired a 11% stake in telecom company Vodafone India Ltd, Piramal has chalked out plans in pharmaceuticals, financial services and security.
Viom Networks Chairman Quits - Subodh Bhargava, chairman of Viom Networks, has decided to quit, citing his “discomfort about the speed at which the business was growing”. Bhargava’s decision comes four months after KPMG submitted a forensics and audit report on the company, after allegations of financial irregularities and diversion of funds by a former company official surfaced last September. (Business Standard)
PE-backed Everest Kanto Cylinder Acquires Germany’s Blitz D11
Beacon India Private Equity-backed Everest Kanto Cylinder has acquired the entire share capital of a German company, Blitz D11 eins-sechs-drei GmbH, through its wholly owned Dubai-based subsidiary EKC International FZE, for undisclosed sum, the company disclosed in a statement to Bombay Stock Exchange. The acquisition comes in line with the company’s strategy to explore the European markets for high-pressure gas cylinders, the statement added. Post the acquisition, the company is also in the process of changing the name of Blitz D11 eins-sechs-drei GmbH to EKC Europe GmbH and has appointed Pushkar Khurana, of EKC International FZE as the managing director of Blitz D11 eins-sechs-drei GmbH. (BSE)