News Roundup: TA Associates to buy Omega Healthcare for $93M

29 June, 2012

TA Associates To Buy Omega Healthcare For $93M – US private equity firm TA Associates is acquiring a controlling stake in Omega Healthcare Management Services, a business process outsourcing (BPO) firm, in a deal valued at $93 million (Rs 530 crore). TA is buying out Omega Healthcare investors, which include Akash Bhansali of Enam Securities and US software company HealthEdge, and is infusing fresh capital to take more than 51% stake in the Bangalore-based firm. (Times of India)

General Atlantic Looks To Exit Hexaware – Private equity investor General Atlantic is looking to sell its stake in  mid-tier IT services firm Hexaware Technologies via the  secondary market once it finds the right valuation even thought the IT firm’s promoters have no intention of exiting the company. General Atlantic is in talks with other PE players and venture capitalists and is seeking a valuation of four times the company’s operating cash flow. In 2006, General Atlantic had invested Rs. 300 crore in Hexaware. (Firstpost)

Manipal Global Raises $110M Debt  – Manipal Global, the Rs 1,000-crore higher-education and vocational training major, is understood to have raised $110 million as debt from Standard Chartered Bank. The debt is aimed at refinancing the loan the company had earlier taken from ICICI Bank. Manipal is backed by Azim Premji’s private equity fund and N R Narayana Murthy’s Catamaran Venture. (Business Standard)

JP Power Promoters To Sell 29M Shares – Jaiprakash Power Ventures (JP Power) on Thursday said its promoter group company, Jaypee Infra Ventures, would sell about 29 million shares through the offer-for-sale (OFS) route tomorrow. The share sale is aimed at complying with the 25 per cent public shareholding requirement. Jaiprakash Associates, along with JP Infra, holds 76.11 per cent stake in the company. At the floor price, fixed at Rs 33.5 per share, JP Infra would be able to raise about Rs 97 crore. (Business Standard)

Decision On Massimo Dutti Today – The world’s largest clothing retailer Inditex will know the fate of its year-old investment proposal for India at a Foreign Investment Promotion Board meeting on Friday. The Spanish company had proposed a joint venture with Tata Group-owned Trent for apparel brand Massimo Dutti on July 18, 2011. (Economic Times)

Blaupunkt Sets Up JV In India – German in-car entertainment brand, Blaupunkt has finally set up shop in India, through a joint venture (55:45) with its current India partner AutoSonics India. Though the brand has been present in India for almost 15 years now, it was through multi-channeled distribution networks. The JV is being fashioned as a re-entry of the brand in the Indian market. (Business Standard)


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News Roundup: TA Associates to buy Omega Healthcare for $93M

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