August 2010
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Private equity investment returns to emerging markets

Private equity investment in emerging markets is again on the rise, with a 55% year-on-year increase over the first half of the year, research shows. Data compiled by the Emerging Markets Private Equity Association (EMPEA) found fresh investment in the area stood at $13bn for the first six months of 2010, compared with $8bn at the same time last year. EMPEA said the total value of private equity investments made in the first two quarters of 2010 was $4.5bn more than that invested through the same period last year, led by an investment surge in Latin America and continued strong activity levels in China and India. Fundraising levels are also showing signs of rebounding, with $11bn raised in the first half of 2010 compared with $9bn over the same period last year. […]

August 9th, 2010

SBI, Macquarie SBI Infra to invest Rs 125 cr in Adhunik's arm

Adhunik Metaliks said State Bank of India and Macquarie SBI Infrastructure Investments together will invest Rs 125 crore as equity in a power project executed by the company's arm Adhunik Power and Natural Resources. This investment is “towards part finacing the equity of its ongoing 540 MW coal-based independent power project at Jamshedpur in Jharkhand”, Adhunik Metaliks said in a statement. Adhunik Power and Natural Resources is constructing the plant at a cost of Rs 2,650 crore and plant is likely to be commissioned in January 2012. The entire power generated here will be sold on merchant basis. In December 2009, IDFC Project Equity Fund had made an equity investment of Rs 250 crore in the Jamshedpur based power plant. “The investment by Macquarie SBI and SBI will meet the balance of the project's total equity requirement of Rs 663 crore,” the statement added. […]

August 9th, 2010

ISS acquires 49% stake in SDB CISCO

Leading facility service provider ISS has acquired 49 per cent stake in SDB Cisco, one of the biggest security firms. “The transaction provides ISS India a comprehensive service offering of cleaning, catering, pest control and security and ensures ISS a leading position in one of the world's fastest growing markets for outsourced services,” ISS Group Jeff Gravenhorst told reporters. He said SDB Cisco is ISS' third large acquisition in India and constitutes the second strategic step change following the takeover of pest control provider Godrej HiCare in April 2009. “Together, ISS India and SDB Cisco will have almost 43,000 employees, making India the second largest ISS operation,” he said. […]

August 9th, 2010

M&M to bid below $500 million for Ssangyong Motors

India’s largest utility vehicle maker Mahindra & Mahindra will put in a bid below $500 million for the troubled South Korean sports utility vehicle maker, Ssangyong, say banking sources close to the company. On Saturday, M&M board authorized the submission of bid to acquire majority stake in Ssangyong. Sources close to the development say that M&M’s bid will involve equity infusion of around $150 mn into Ssangyong which will give them a majority stake in the company. Besides, M&M will take Ssangong’s debt, aggregating to around $330 mn on its books. Ssangyong’s current debt, it is learnt, is pegged at around $600 million and its lenders may have to take a partial hit in the process. Ssangyong's consolidated debt for the last financial year ended December 2009 stood at $1.02 bn. M&M has declined to comment on the story. […]

August 9th, 2010