October 2009
M T W T F S S
« Sep   Nov »
 1234
567891011
12131415161718
19202122232425
262728293031  

Contact us

Warburg Pincus, Citigroup Venture to exit Indian cos to cash in on mkt rally

Private equity fund Warburg Pincus and Citigroup’s private equity arm Citigroup Venture Capital International (CVCI) are among investors rushing to exit as they plan to sell stakes in Indian companies such as real estate developer Emaar MGF in initial public offerings, exploiting the record stocks rally this year. Morgan Stanley fund and foreign venture fund Monet will sell a part of their stake in the TV channel distributor Hathway Cable and Trinity Capital will exit IL&FS Transportation Network, filings with the regulator show. “Five years is an average investment holding period for PE investors,’’ says Rajeev Gupta, managing director, Carlyle India Advisors, which owns stake in the nation’s biggest mortgage company Housing Development Finance Corp. […]

Malaysia`s Petronas buys stake in Cairn India for US$240 mln

Malaysian oil firm Petronas has bought 2.3 per cent stake in Cairn India for US$240 million to raise its holding in the company, which gave the nation its largest oil find in recent times, to near 15 per cent. Petronas International Corp, which held 239.83 million shares, or 12.64 per cent, in Cairn, will buy 43.6 million additional shares from Cairn UK Holdings Ltd – the parent firm of Cairn India, the company said in a statement here. After the buyout, Petronas' holding in Cairn India will rise to 14.94 per cent. […]

Telenor gets nod to up stake in Unitech

The government today approved Norwegian telecom company Telenor's proposal to raise stake in its Indian joint venture Unitech Wireless to 74 per cent, the maximum permitted in the sector. The Cabinet Committee of Economic Affairs (CCEA) gave its nod to Unitech Wireless Tamil Nadu for enhancing foreign shareholding by Telenor Asia (Singapore) up to 74 per cent, Commerce Minister Anand Sharma told reporters. Telenor would for now pump in an FDI of Rs 3,740 crore for raising the stake to 67.25 per cent from the present 49 per cent. The Norwegian company had in August this year obtained Foreign Investment Promotion Board approval to enhance stake to 74 per cent. All foreign investments over $600 million (over Rs 2,800 crore) are to be approved by the CCEA. […]