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NIIT has signed a share purchase agreement to acquire 47.87% stake in Noida-based Evolv Management Services (Evolv) – a provider of English language and communication training – with 100 employees and pan-India presence and delivery capability. Evolv provides training services to clients across IT and ITeS, banking, insurance and telecom. […] ICICI Venture, the largest domestic private equity fund in the country, has roped in a foreign strategic healthcare investor in its endeavour to become a healthcare investment major in the country. The strategic partner would invest $80 million in IVEN Medicare, the fully-owned subsidiary of ICICI Ventures, to form a special purpose vehicle. “We currently have $80 million in IVEN from ICICI India Advantage Fund Series II and would raise another $90 million through debt. The new entity would have a capital base of $250 million, to start with,” said Alluri Srinivas Rao, director, Investments, ICICI Ventures. Rao said that a formal announcement regarding the tie-up would be made by the end of this month. The new company would acquire majority stakes in key regional hospitals. It will use its large balance sheet and size to buy equipment, help the hospitals raise money and hire doctors. […] Essar Energy Overseas, a subsidiary of Essar Oil, has entered into an agreement to acquire 50 per cent stake in Kenya Petroleum Refineries (KPRL), a four million metric tonne per annum (MMTPA) refinery, in Mombasa, Kenya. The government of Kenya holds the remaining 50 per cent in KPRL. This will be Essar Oil's first international acquisition in the refining sector. Essar already has three exploration and production blocks in Madagascar and one in Nigeria. Though Essar Oil did not divulge the deal size, it is estimated that the refinery could have cost the company around Rs 3,000 crore. Said an analyst, “It is not a complex refinery and considering that the company would upgrade it by adding secondary units at a project cost of $ 400- 450 million, the cost of the acquisition is likely to be on the lower side.” The government of Kenya and Essar Energy Overseas will equally share the cost of upgrading the refinery. […] |