Capital Markets
StanChart To Raise UTI Securities Stake To 74%: Standard Chartered Bank Mauritius can increase its sake in UTI Securities from the current 49% to 74%, reports Business Standard and is also conducting a rebranding exercise for the financial services company. It was only last year that Standard Chartered bought a 49% stake in UTI Securities from the Securities Trading Corporation of India (STCI) for Rs 147 crore, valuing the securities firm roughly four times the revenues it had generated in 2005-06. This time the value has been pegged between Rs 300 crore and Rs 350 crore, according to the BS report. VCCircle individually could not confirm the development. Both parties are close to completing the formalities. Standard Chartered has already nominated its nominees on the board. The revamped, Standard Chartered-STCI Capital markets may also look at setting up a non- banking financial company (NBFC) or tying up with one to offer loans against shares. The company is also readying to offer currency futures, which begins on August 29. As part of the new rebranding exercise, Standard Chartered-STCI Capital Markets has reoriented the entire team and has strengthened its risk management platform and has also expanded the team from seven members to 30 members.
Mergers & Acquisitions
Pyramid Saimira To Buy UK's Reel Cimemas: Chennai based digital cinema chain Pyramid Saimira Theatre Ltd is set to acquiring UK's oldest theatre chain Reel Cinemas (earlier Associated British Cinemas or ABC) for around Rs 200 crore, reports Economic Times. It was only recently, Bennett Coleman and Company (BCCL), publishers of The Times of India and The Economic Times, bought a stake in Chennai-based Pyramid Saimira Theatre (PSTL). The report confirms that the digital chain has completed the due diligence process and has already initiated talks with the management.Last year, PSTL had acquired the US-based theatre chain FunAsia of Texas, which operates multimedia entertainment venues in Houston and Dallas. PSTL, recently lost out in the deal for the Australian multiplex chain Hoyts Group. Read .
Marksans Pharma Acquires UK's Relonchem For Rs 100 Cr: Mid-sized pharma firm Marksans Pharma has acquired UK's leading generic drug marketing and distribution company Relonchem for Rs 100 crore. This deal would help Marksans Pharma gain deeper access to UK's generic licensing market of wholesalers, retailers and hospitals. PricewaterhouseCoopers (PwC) advised Marksans Pharma in the transaction. It can also save cost by transferring Relonchem's manufacturing needs to Marksans India facilities. Relonchem is UK's leading marketing and supplying of generic phar-maceutical products of major therapeutic segment such as oncology and diabetics. Relonchem has a registered sales of around $32 million and adjusted EBITDA of around $5 million in FY07.
Apollo Eyeing A Nigerian Hospital: Apollo Hospitals Enterprise Ltd (AHEL) is in talks with a leading hospital group in Nigeria to acquire a stake in it. Apollo is planning to set up a greenfield hospital in Ethiopia and working on a 250-bed hospital there and may finalise the plans soon. The per-bed cost is estimated to be around Rs 40 lakh, which works out to be a total investment of Rs 100 crore.
Mahindra In talks To Acquire Italian Comapany: M&M is in talks with Italian motorcycle and scooter maker Malaguti Moto for a possible takeover. This follows M&M's takeover of Kinetic’s two-wheeler business for Rs 120 crore. According to this report, Mahindra plans to expand its range through new global alliances with European or American brands at the top-end and Chinese sourced products for the middle and bottom end.
Malguti is one of the famous Italian auto-makers and just a couple of months ago its Phantom F12R became the Ducati Corse Superbike.
Camlin In Talks With U.S' Kemin For A Food JV: Camlin Fine Chemicals, a large producer of food preservatives, is in talks with Kemin Industries of the US to form a joint venture for manufacturing and marketing speciality food ingredients. At present, Camlin Fine Chemicals is the world's largest manufacturer of food-grade, anti-oxidants such as TBHQ and BHA, with annual sales of 3,000. Camlin is also planning to invest over Rs 15 crore to set up manufacturing units in Khopoli near Mumbai. The company has targeted a turonver of over Rs 110 crore during the year.
Gennex To Acquire Majority Stake In Amman Bio Pharma : Andhra Pradesh-based Pharma company Gennex Laboratories told BSE that it will make an offer to buy majority stake in Secunderabad-based bio-fuel company Ammana Bio Pharma. In a communiqué to the stock exchange, Gennex said, "The board of directors has unanimously decided to make an offer for purchase of 51 % stake in Ammana Bio Pharma and authorised the managing director of the company to enter into necessary shareholders agreement with them for acquisition of said stake".
Private Equity
INX Media To Raise Upto $150 Million: INX Media, the broadcaster of general entertainment channel 9X and music channel 9XM plans to raise upto $150 million and have already initiated talks with potential investors. Mukerjea, formerly chief executive officer of News Corp.-owned Star India Pvt. Ltd, and his wife Indrani control a 45% stake in INX Media. Private equity investors, who together hold 50% of the company, include the Indian unit of the Singapore government's investment arm Temasek Holdings Pte. Ltd (19.99%) and private equity fund New Silk Route Advisors (20%). Two investment units of Kotak Mahindra Bank Ltd and New Vernon Private Equity Ltd together hold 10.01%. Employees hold the rest of equity. The firm is planning GECs in Marathi, Bengali and Punjabi and music channels in Gujarati, Bengali and Punjabi. In addition to these, INX News will launch city-specific news channels for New Delhi and Mumbai and Bangalore.
3i To Invest $229M In Port Operator: The Private equity giant may invest $183-$229 million in a south Indian port operator Krishnapatnam Port Co for a stake of up to 26%. 3i has submitted for with the Foreign Investment Promotion Board (FIPB), the nodal body for foreign investment in India. The investment comes from 3i's $1.2 billion India Infrastructure Fund. This fund has already invested $227 million in Adani Power and $101 million Soma Enterprises.
