TVS Logistics In Talks To Raise $50M – Chennai-based TVS Logistics Services Ltd is in talks with private equity (PE) investors for a second round of funding. The firm has plans to raise money from the equity market in the future, and this round of funding is a step in that direction since it would help his firm to achieve scale. While around 20 private equity investors had approached the company initially, the company is in talks with four of them, including KKR (Kohlberg Kravis Roberts) and Temasek. The total $50 million will be through both a primary and secondary route.
Srei’s Kanorias To Float $1.5B Infrastructure Fund – The Kanorias of Srei Group will float a $1.5-billion global fund in Singapore to invest in infrastructure projects in India, South East Asia and Middle East. Bulk of the investments will be in telecom infrastructure ventures while a sizeable chunk will also be used to execute a mix of power, ports, roads and water management ventures. The global infrastructure fund and AMC will be managed by a team headed by Arun Kapur, who was ex-CEO of India’s second largest telecom tower company, Viom Networks. (Economic Times)
PE Players In Talks With Prestige To Buy SEZ – Global private equity majors are understood to be holding discussions with Prestige Constructions to buy out a special economic zone (SEZ) here for close to Rs 1,800 crore. Called Cessna Business Park, the 4.5-million sq ft project houses marquee technology majors like Cisco as its clients. The rental-yielding fully-developed SEZ on the Sarjapur-Marathalli outer ring road, is one of Prestige’s landmark commercial space developments. (Business Standard)
UB Group Plans Foreign Listing Of Liquor Assets – Vijay Mallya-promoted UB Group will consolidate its foreign liquor assets under Whyte & Mackay and list the Scottish subsidiary as part of a strategy to overcome the financial crisis caused by its floundering airlines business. The group, whose cash-strapped Kingfisher Airlines is facing problems making payments to banks and employees, is talking to global investment banks to offer the official mandate for the planned restructuring and listing. UB Group had acquired whisky maker Whyte & Mackay in 2009 for $595 million. (Economic Times)
OIL In Talks For $200M Shale Asset Stake – State-owned Oil India Ltd (OIL) is in talks with a US-listed firm to buy an around 25% stake for some $200 million (around Rs1,030 crore) in the latter’s shale gas acreage. The move is aimed at acquiring expertise in a segment that may soon become significant and lucrative in India, with the country expected to auction shale gas blocks in the next few years. The acreage is near Eagle Ford in Texas. (Mint)
Reliance MediaWorks To Restructure Business – Reliance MediaWorks, a film and entertainment company, said its board had approved separating its exhibition and film and media services businesses into subsidiaries. The firm, controlled by billionaire Anil Ambani, said the proposed restructuring is a precursor to inviting investments from strategic and private equity investors who have expressed an interest in specific businesses. (Times of India)
ADIA MD On India Visit Seeking Investments – Managing Director of Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, will pay a visit to India from tomorrow to explore investment opportunities. Sheikh Hamed bin Zayed Al Nahyan, Hamed will be meeting several ministers, top financial and monetary authorities and leading members of the private sector during his visit to New Delhi, Mumbai and Bangalore. (Economic Times)
ASK Group To Raise Rs 3,000Cr For Two Funds – The Mumbai-based ASK Group, a financial and portfolio management advisory, with $1.5 billion under management, is on the road to raise as much as Rs 3,000 crore for two funds it is advising. While Rs 1,500 crore will be for a real estate fund, an equal sum will be for a sector- agnostic private equity one. ASK, which is into wealth advisory, investment management and property investment management, is also embarking on setting up an asset management company (AMC). (Business Standard)