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News Roundup: GVK to raise Rs 3,500Cr from airport biz stake sale

03 July, 2012

Ascendas To Acquire Shriram SEZ For Rs 500Cr – Singapore-listed technology park developer Ascendas is likely to acquire an IT special economic zone of Shriram Properties in Chennai for about Rs 500 crore. Ascendas, which owns a string of business parks in India, is said to have pipped competing offers from other global investors Tishmen Speyer, Xander Group and Mapletree, a real estate arm of Temasek. (Times of India)

GVK To Raise Rs 3,500Cr From Airport Biz Stake Sale – After talks with Changi Airport failed to sell 26 per cent in its airport business, GVK Power and Infrastructure Ltd is in discussions with a few private equity players in an effort to dilute stake in GVK Airport Holdings. Discussions are on with a few infrastructure-focused PE majors such as Macquarie SBI Infrastructure Fund (MSIF), Morgan Stanley Infrastructure Partners and JPMorgan Asian Infrastructure Fund. It is learnt that GVK has plans to raise about $600-650 million (Rs 3,300-3,500 crore) through the sale. (Buiness Standard)

Srei To Raise $1B For Infrastructure Fund – Srei Infrastructure Finance Ltd. plans to raise $1 billion to invest in India’s infrastructure sector and will soon hold roadshows in the U.S., Europe, Japan, Australia and the Middle East to market the equity fund. This will be Srei’s biggest equity fundraising till date. (Wall Street Journal)

Groupe Limagrain Plans Second Acquisition In India – Groupe Limagrain, the France-based euro 1.5-billion conglomerate focusing on seed cultivation, is understood to be in advanced stages of discussions to finalise an acquisition of about Rs 100 crore, after zeroing in on a couple of vegetable seeds companies. In 2009, Limagrain had formed a 51:49 per cent joint venture with Atash Seeds, a subsidiary of Avesthagen. (Buiness Standard)

Hanjer Biotech To Raise $40M From European Funds – IDFC-backed Hanjer Biotech Energies, which uses technology to recycle municipal solid waste into green products, is close to raising about $40 million (Rs 225 crore) from European funds. The company is in final stages of talks with German investment and development company DEG and France’s Proparco to raise long-term debt. (Economic Times)

Eni Stake In HOEC Up For Grabs – Italy’s Eni SpA has evinced interest in selling its holding in Hindustan Oil Exploration Co. Ltd (HOEC), and state-owned Oil and Natural Gas Corp. Ltd (ONGC) has received a banker-led proposal to buy the stake. The move is an indication of both the consolidation in the Indian energy business and the losing appeal energy assets in the country. (Mint)

TTK Prestige Eyes Acquisitions In Europe – TTK Prestige, one of the leading brands in the kitchen appliances market, is looking at acquisitions in Europe. The proposed exercise would help the company have an exclusive brand for the overseas market. The size of the acquisition would be about Rs 300 crore. (Buiness Standard)


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News Roundup: GVK to raise Rs 3,500Cr from airport biz stake sale

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