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Baer Capital Partners, the newest private-equity firm to enter the country, has just sprung out of the starting blocks but plans to invest $1 billion in Indian firms in the next one year. “Our target is to invest one billion dollars in India by 2008. Baer has three deals in the pipeline,” says Alok Sama, founder and president of Baer Capital Partners. While the buzz is that the private-equity firm has already struck a deal, picking up a stake in Saffron Art, Sama declined to comment. “It’s still early days,” said Sama who’s not fazed by the incumbent private-equity players. […]
Will Genpact's Pramod Bhasin be the last man standing in race to buy Citigroup's captive BPO-Citigroup Global Services? NDTV has learned that the deal is almost through and a final announcement is due soon. According to sources Genpact is likely to pick up 80 per cent in Citigroup Global Services. With revenues of around $400 million Citigroup Global Services (CGS) is valued at over a billion dollars. Genpact is reportedly paying around $750-800 million while a consortium of WNS and Warburg Pincus were also in race. The Citi acquisition will give Genpact more exposure in the banking space. […]
IL&FS is set to acquire a 15% stake in the 750-MW West Seti hydro power project in Nepal. The project, developed by Australian hydroelectric company Snowy Mountain Engineering Corporation (SMEC), will supply the entire electricity produced from the plant to India. “IL&FS has shown keen interest to join the project as equity partner. They have already attended our first shareholders’ meeting and are conducting due diligence of the project. […]
Dubai International Capital (DIC), the investment arm of Dubai Holding, has bought 2.87 per cent stake in ICICI, India's second largest bank. Dubai International Capital's investment in the Indian bank follows its recent purchase of 3.12 per cent stake in the European Aeronautic Defence and Space Company EADS, the parent company of aircraft manufacturer Airbus. ICICI Bank had assets of USD79 billion at the end of March 31. It raised USD4.9 billion in India's biggest share sale open to domestic and foreign investors in June. […]
New York-headquartered private equity (PE) firm Warburg Pincus, the largest PE investor in India by investments, has made its first buyout deal in the Indian market. This week, it joined hands with Indian tyre industry entrepreneur Yogesh Mahansaria to acquire Israel-based Alliance Tire Company Ltd for $150 million (Rs606 crore). This is the second India-centric buyout deal in less than a month—on 18 June, Blackstone Group, also based in New York, backed a $200 million management buyout of Mumbai-based Intelenet Global Services Pvt. Ltd. Warburg was not available for comment on the deal. […]
Private equity (PE) investor Baring Private Equity Partners India Ltd (BPEP India) is raising its third India-dedicated fund with an expected corpus at $400-500 million (Rs1,616-2,020 crore). The proposed fund will be launched early next year and will be more than twice the size of the PE firm’s current fund, the $177 million Baring India Private Equity Fund II. The expanded corpus for India follows BPEP’s spectacular $255 million exit from MphasisBFL Ltd, which was acquired by US-based EDS for $380 million last year—the PE firm had invested $16.6 million in 1998 and held a 35% stake in the company at the time of exit. […]
India Infoline, one of the leading retail brokerage houses, is venturing into the consumer finance business in a big way. The company is looking for private equity funding or a strategic partner for its new venture, India Infoline Finance Holding (IIFH). The newly formed holding company for retail financing business will be valued at Rs 800-1000 crore. India Infoline will infuse around Rs 200 crore into IIFH directly, and around $100 million would be raised either through private equity or stake dilution to the extent of 30-40 per cent. […]
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