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Kuwait's National Aviation Services (NAS), a subsidiary of logistics firm Agility, said on Wednesday it will buy a majority stake in India's NOVA Aviation Services. NAS will sign an agreement later on Wednesday with NOVA Aviation to acquire a 55 percent stake in the firm, NAS's spokesman told Reuters without giving the value of the deal. NOVA provides airport and ground handling services in five airports in India, according to a NAS statement.(Reuters) […] After life insurance and property services, $4.5-billion Old Mutual is planning to invest in retail-related real estate assets in India through a property fund. The property arm, the South Africa-based Old Mutual Investment Group Property Investments (OMIGPI) and a Mumbai-based real estate company ICS Realty, have promoted a $500 million property fund, which is expected to close by March 31. The fund, called Triangle India Real Estate Fund, is aiming at investors (both high net worth individuals and institutions) in Europe, West Asia and South Africa. ‘‘We are targeting returns of 20 per cent to 30 per cent,’’ said Deep Kantawala, director of Property Zone, the advisor to the fund in India. The fund has an eight-year term, with an option to extend it by two years. Though the fund has a mandate to invest in retail, commercial and hospitality sectors, it would put 60 per cent of its corpus in the retail sector to take advantage of the merchandising boom in the country. […] Advanta India Ltd has acquired Texas-based Garrison & Townsend, LP, (GT) Hereford, for $10.5 million. Announcing this to the Bombay Stock Exchange (BSE) on Tuesday, an official communiqué from the company stated that GT has strong presence in Sudan vis-à-vis the cultivation and marketing of sorghum species of grasses, used for growing grains and fodder. The release states that in Sudan, about 67 per cent of revenue arising out of the cultivation of sorghum is carried out by GT. […] Brokerage firm Religare Enterprises has entered into a partnership with Vistaar Entertainment Ventures to launch India’s first regulated film fund — Vistaar Religare Film Fund (VRFF). It has filed for approval with the Securities and Exchange Board of India (Sebi) as a Venture Capital Fund (VCF). The close-ended fund is expected to have an initial corpus of about Rs 200 crore, with a 5-year lock-in period. The plan is to look at funding and green-lighting various films, and each film will have a special purpose vehicle (SPV) with the stakeholders being the fund along with the producer, director and writer. The attempt is to provide a platform for new directors, talent and writers. […] |