Serco In Talks To Buy Blackstone’s Intelenet – UK-based Serco Group is in discussions to acquire a controlling stake in India’s largest unlisted back-office provider, Intelenet Global Services.
Private equity firm Blackstone, which holds over 66% in Intelenet, plans to exit by selling its stake to Serco if an agreement on valuation for the back-office firm is reached. Intelenet with revenues of around $250 million is likely to be valued at around Rs 1,000 crore. In 2007, at the peak of the BPO boom, Blackstone invested $200 million in Intelenet in a management-led buyout. Serco acquired Infovision , a domestic BPO firm, three years ago. (Economic Times)
Actis In Talks To Exit Sandhar Locking – Actis, the Britain-based private equity major, is exiting its five-year-old investment in Sandhar Locking Devices. Actis had invested about Rs 105 crore in Sandhar in 2005 by acquiring a minority stake. Edelweiss has been appointed to advise the deal. The Gurgaon-based Sandhar Group is into component making for both two-wheeler and four-wheeler manufacturers. Actis is in serious talk with two other PE majors to sell the stake in Sandhar with deal size of Rs 125-150 crore. (Business Standard)
Dalmia Cement Eyes M&As – Dalmia Cement (Bharat) Ltd (DCBL), second largest producer from the southern region, is evaluating options to buy out cement companies. DCBL had charted plans to launch a 10-million tonne per annum (mtpa) capacity in 2008 through its wholly owned subsidiary, Dalmia Cement Ventures Ltd (DCVL), which never took off. DCBL received Rs 500 crore from PE giant Kohlberg Kravis & Roberts (KKR) in May 2010 for a stake sale of 20% in its cement subsidiary, Avnija Properties. KKR has an option to top it by another Rs 250 crore. (Business Standard)
Warburg Pincus In Talks To Invest Rs150Cr In IndiaMart – Global private equity major Warburg Pincus is in advanced talks to invest close to Rs 150 crore in India-MART.com — India’s largest online B2B marketplace for small and medium size businesses. The investment will be in lieu of 10-20 % stake. Intel Capital invested about $10 million in it in 2008, while Bennett, Coleman & Co Ltd pumped in close to $3.5 million in 2007. If the current round of funding fructifies, it could see the exit of BCCL. (Economic Times)
Great Lakes To Raise Rs 150Cr From Educomp – E-learning services provider, Educomp, has decided to invest Rs 150 crore, and consequently share profits, in the future projects of Chennai-based Great Lakes Institute of Management. Great Lakes is a non-profit organisation (formed under Section (25) of the Companies Act) founded in 2004 by Kellogg School of Management’s Prof Bala V Balachandran . The investment will be done over the next five years with Great Lakes new campuses in Delhi NCR, Mumbai and a yet-to-be-finalised location in eastern India. (Economic Times)
ICICI Prudential Invests Rs 80Cr In Logix Group Project – ICICI Prudential Asset Management Co. Ltd has invested Rs.80 crore in a residential project of Noida-based Logix Group from its first real estate fund. Logix Group will use the money for its Blossom Greens project in Noida, a 2,500-unit residential project that is to be completed in two-and-a-half years. Logix plans to raise another Rs.300-500 crore in six months in two phases. ICICI Prudential is set to invest an equal amount in an Adarsh Group residential project in Bangalore from Rs 800 crore India Opportunities Real Estate Portfolio. ICICI Prudential is preparing to close a couple of deals in Mumbai and the NCR region.
Dabur Eyes Acquisitions – Consumer packaged goods company Dabur India Ltd is ready to spend Rs.3,000 crore to buy firms and brands. The firm is looking for large or small acquisitions and spend Rs.3,000 crore on deals. Dabur has equity and reserves of Rs 1,391 crore and Rs 600 crore in cash. Dabur has shortlisted 15 target brands and companies and initiated talks with most of them. Last week, the company acquired an over-the-counter multi-vitamin brand 30-Plus from Mumbai-based Ajanta Pharma Ltd for an undisclosed amount.
German Firm ABUS Eyes India Buys – Germany-based security company August Bremicker Sohne KG (ABUS) is open to acquisitions in India. ABUS, a family-owned firm for over 80 years, has been operating an assembling line in India for the past three years. The company operates in the domestic, mobile and commercial and electronic security systems space. (BusinessLine)
Shree Ganesh Jewellery Looks For Overseas Acquisitions – Kolkata-based Shree Ganesh Jewellery House Ltd (SGJHL) is looking for acquisitions of brands abroad. The company is already in talks with some European brands and the size of the acquisition would be about $50 million. The company is also betting big on overaseas markets as it plans to open duty free shops in airports across the world — Hongkong, Singapore, Dubai, London, Australia, Newark and Sharjah. (Business Standard)
Kolkata’s Concast Group Buys Sps Steel PLant For Rs 800Cr – Kolkata-based Concast Group has acquired Bipin Vohra promoted SPS Steel’s Jharsuguda-based steel plant for Rs 800 crore. The new owners have renamed the steel unit as Concast Steel and Power Ltd after the takeover. Concast has paid Rs 125 crore upfront in a cash deal to SPS Steel. In 2009, Concast acquired 50% stake of SPS Steel. (Business Standard)