May 2011
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PE, M&A activities in logistics, transport sectors to get further momentum

Merger and acquisition (M&A ) and Private equity (PE) activities in the transport and logistics sector in the country during the first five months of 2011 have seen a significant increase as compared to that for the same months last year. Last month alone witnessed five deals, including Warburg Pincus putting $100million in Continental Warehousing Corporation , Fidelity Growth Partners investing $13.5 million in Transpole Logistics and Aqua Logistics taking over Nikkos Logistics. Given the hectic activities, sources familiar with the development are expecting to see at least one deal every month on transport infrastructure and logistics sectors of the country . On the PE side, scores of India-focused funds managing over $20 billion are now eager to deploy capital given the recent slowdown. On the M&A side, the country presents itself as an ideal ground where industry consolidation has only just begun . […]

Oman Investment Fund, hedge fund to buy NSE stake in NCDEX

Oman Investment Fund and an anonymous hedge fund have agreed to buy India’s NSE (National Stock Exchange) stakes in the National Commodity & Derivatives Exchange (NCDEX) in a deal that would value NCDEX at 7 billion rupees, said Reuters citing an Economic Times Report. Oman Investment Fund (OIF) is a sovereign wealth fund owned by the Oman government. The report has left the hedge fund unnamed. If the deal is through, then it would mark the entry of a sovereign fund into India's seven-year-old commodity futures market. […]

Par Pharma to Buy India-Based Generic Drug Maker

Par Pharmaceutical Cos. will acquire India-based generic drug maker Edict Pharmaceuticals for up to $37.6 million. The company expects the deal to close by the end of the year and add to earnings in 2013. Par, itself a maker of generic drugs, has also been moving into the branded pharmaceutical market by developing updated versions of off-patent drugs. Privately held Edict develops and manufactures solid oral dosage generic drugs with a focus on niche first-to-file, first-to-market formulations. The company has eight abbreviated new drug applications awaiting approval from the U.S. Food and Drug Administration, one application filed in the name of a development partner and 14 products in development. […]