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News Roundup: Tata Capital to Roll-Out Its First PE Fund By End-2009

13 April, 2009

BSNL Eyes Overseas Buy – Bharat sanchar Nigam Ltd. (BSNL) is eyeing acquisitions of telecom companies abroad to get foothold in the global market. The criteria for acquiring a company would depend on the due diligence undertaken by it but its strategy is going to both organic and inorganic growth to drive revenues. (The Economic Times)

GIPSA to Float JV for TPA Service – The General Insurers’ Public Sector Association of India (GIPSA), an association of all the four public sector general insurance companies, is planning to float its own third party administration (TPA) service jointly with a company in India or abroad. The yet to be floated consortium, comprising National Insurance Co, New India Assurance Co, Oriental insurance Co and United India Insurance Co, would forge a joint venture (JV) with either an existing TPA in India or abroad. GIPSA is already in the process of finalising the consultant for choosing the JV partner. Companies such as KPMG, Boston Consulting Group (BCG) and Ernst & Young have given the expression of interest (EoI) for working as the consultant for the proposed JV. (The Economic Times)

UK’s United Biscuits to Enter Indian Markets – UK’S United Biscuits, the world’s third-largest biscuit company, is exploring manufacturing and marketing opportunities to tap the Rs 6,000-crore-plus organised biscuits market in India. The biscuits and snacks maker with estimated revenues of £1.1 billion is in exploratory talks with many biscuit companies, including Parle Products. Sources suggest that United Biscuits is not looking at an outright financial investment or stake acquisition. Instead, it is keen on manufacturing, marketing and distribution tie-ups that will allow its products reach the consumer as soon as it starts operations. (The Economic Times)

Tata Capital to Roll-Out Its First PE Fund By End-2009 – Tata Capital plans to roll-out the first of its series of private equity funds by end-this year and will approach SEBI to obtain regulatory approval very soon. The company plans to launch the PE fund before the end of this year, specifically targeting the mid-market segment. In this segment, it would target the companies which are typically unlisted and the deal size would be in the range of $25-30 million.This will be followed by the Innovation Fund, most likely by end-2010, and later by a sector-specific fund. Tata Capital, which proposes to be the anchor investor in all its domestic funds, has tied-up with Japan’s Mizuho Securities to partner it in the mid-market fund which will be the first to be launched. (The Economic Times)

Pantaloon to Undergo Revamp, To Raise Rs 1,100-1200 Crore From PE – Having devised plans to raise Rs 1,400-1500 crore through a preferential issue of shares to promoters and private equity players, Future Group has embarked on a major revamp of its listed entity Pantaloon Retail. The exercise will see Pantaloon Retail divided into three separate companies catering to FMCG & consumer durables, retail , and fashion. The group aims to raise Rs 1,100-1200 crore from private equity (PE) players, who will be offered shares in the newly-created companies, while the remaining sum (Rs 300-400 crore) will come from a preferential allotment to the promoters. It has already approached big names like Carlyle, Blackstone, Bain Capital, KKR and the PE arm of Goldman Sachs. (The Economic Times)

 


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News Roundup: Tata Capital to Roll-Out Its First PE Fund By End-2009

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