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News Roundup: Morgan Stanley May Invest $300M In Asian Infra

10 November, 2009

Hindalco Starts Road Show For Rs 2,900Cr QIP – Hindalco Industries, India’s largest aluminium maker, plans to raise about Rs 2,900 crore in the next three to four weeks. They have started road shows in India for the proposed QIP. It also plans to roll out the road shows in the US, UK, Hong Kong and Singapore. In July, Hindalco had announced plans to raise Rs 2,400 crore through QIP. However, the issue could not take place due to the volatility in the stock markets. The company has a Rs 23,000-crore capital expenditure plan for the next three years.  (Business Standard)

Coffee Day Holdings To Raise $100-$150M PE – Coffee Day Group, the Bangalore-based company which runs coffee retail chain Cafe Coffee Day, is set to finalise a private equity deal of $100-$150 million. The company is in talks with 4-5 large private equity funds and the deal is expected to be finalised in the next two months. It has earmarked an investment of about Rs 1,700 crore to expand its businesses over the next 3-4 years. (BS)

Turner & Townsend Looks For Acquisitions – UK-based Turner and Townsend, a global project and cost management consultancy, is scouting for acquisitions in India. The company, which has been operational for the last 18 months and have a strategic alliance with a domestic firm to outsource manpower and assist in local projects, plans to acquire suitable companies to scale up operations. It also wants to partner with leading domestic companies to tap the potential in infrastructure development. (BS)

Google Acquires Admob For $750M – Internet giant Google Inc is acquiring Admob, one of the largest mobile advertising networks, for $750 million. Admod has raised $47.2 million in venture capital funding from Sequoia Capital, Accel Partners, Draper Fisher Jurvetson, among others. The firms annual revenues are between at $45 million to $60 million, but Google sees mobile as one of the biggest opportunities, say analysts. (Reuters)

Morgan Stanley May Invest $300M In Asian Infra –  Global investment management firm Morgan Stanley is close to investing $200-300 million in the RV Shahi-headed Asian Infrastructure Pte, that acquires and develops power assets in various countries including India. This is believed to be the second largest private equity deal in the sector after the $395 million investment in Indiabulls Power by Farallon Capital and LN Mittal India Internet Ventures. Both Morgan Stanley and Asian Infrastructure have completed the due diligence process and are likely to close the deal soon, which will see Morgan Stanley pick up equity stake in the Singapore-headquartered Asian Infrastructure. (ET)

EA Acquires Playfish – In a bid to expand its presence in social gaming space, Electronic Arts Inc. has acquired two-year-old Playfish for at least $275 million. Playfish has raised $21 million in venture capital funding from Index Ventures and Accel Partners. The deal includes another $25 million in equity retention arrangements and $100 million in performance based incentives. (Reuters)

Moser Baer To Approach Investors For Funds – Moser Baer Photo Voltaic Ltd (MBPV), India’s largest photovoltaic cell and module maker, plans to invest around $2 billion over the next 2-3 years on setting up new capacities for making photovoltaic cells and modules in Tamil Nadu and Andhra Pradesh. MBPV has raised two rounds of funding for its existing capacities and would approach investors once again for additional funds for the expansion projects. It had raised $100 million in 2007 from a consortium of investors led by IDFC Private Equity, GIC Special Investments, CDC Group Plc and Infrastructure. (DNA)

MRPL To Raise Rs 5,000Cr – Mangalore Refineries and Petrochemical Ltd (MRPL) is looking at raising around Rs 5,000 crore to support its expansion plan. The company will utilize the fund for setting up a polypropylene plant and installing a single buoy mooring (SBM) at the Mangalore port. The company had a reserve of Rs 4,000 crore and was looking to raise the money by the start of 2011. It has appointed SBI Capital Markets for raising the fund. (BS)

Jessie Paul Quits Wipro To Start Own Venture – Jessie Paul, the chief marketing officer (CMO) of India’s third-largest technology services company, Wipro Technologies, has quit to start her own venture. Paul’s new venture, Paul Writer Strategic Advisory, will be a marketing platform for B2B early-stage companies in the traditional and new media space like social blogging. (ET)

IVR Prime To Merge IVRCL’s BOT Arms – The board of directors of IVR Prime Urban Developers Ltd, the publicly-listed real estate subsidiary of IVRCL Infrastructures and Projects Ltd, has approved the amalgamation of the latter’s intermediary holding companies – IVR Strategic Resources and Services Ltd (SRSL) and IVRCL Water Infrastructures Ltd (WIL) – with itself. At present, IVRCL Infra holds 100% of the equity share capital of SRSL and WIL. As per the scheme of amalgamation, the shareholders of SRSL and WIL will receive 59.46 million fully-paid up equity shares of Rs 10 each in IVR Prime. (BS)

Geodesic Eyes Buys – Geodesic Ltd is looking to close an acquisition of around $15-17 million in Europe by December. The target is in the mobile application space, said its CEO. The acquisition will be funded by the $125 million Foreign Currency Convertible Bonds (FCCB) issue last year. (Reuters)

 


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News Roundup: Morgan Stanley May Invest $300M In Asian Infra

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