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Private equity funds Blackstone Group and Bain Capital are negotiating to buyout the Automated Teller Machines business of Euronet Worldwide in India to benefit from rising use of electronic transactions, said three people familiar with the discussions. The business, which Euronet classifies under the so-called Electronic Financial Transaction segment, is facing profitability pressures due to steady climb in costs, they said preferring anonymity. It is the biggest third-party operator of shares ATMs across the nation. Euronet, the Nasdaq listed firm, […]
ADIA’s investments in Indian real estate to date total $400 million to $500 million, largely through property and private equity funds, and the fund is now scouting for direct investment opportunities, one of the sources said. The sovereign fund, whose assets range from Citigroup bonds to a stake in Britain’s Gatwick airport, is close to hiring a country-dedicated fund manager from a large private equity firm to look for real estate opportunities in Asia’s third-largest economy, the sources said. ADIA […]
Qatar Investment Authority (QIA), one of the largest sovereign funds based out of West Asia, is in discussion with Violet Arch Capital Advisors, a financial services start-up, for acquiring a minority stake. Apart from QIA, a few other PE firms are in negotiation with Violet Arch for fund infusion. Violet Arch started its operations by acquiring Alchemy Shares & Stock Brokers from its promoters, including Rakesh Jhunjhunwala. Last year, Violet Arch roped in Berenson & Co, a leading New York-based […]
TVS Capital and International Finance Corp, an arm of World Bank, have jointly invested 1.24 billion rupees ($24.81 million) in Indian rice processor, Dunar Foods. Dunar, which is based in the northern Indian state of Haryana, exports basmati rice to Middle East, Europe and the U.S., a statement issued by Dunar and TVS Capital said. IFC, along with U.S. private equity firm, Warburg Pincus, recently invested $50 million in a non-banking finance company, Au Financiers.. Source: Reuters
U.K. asset manager Schroders PLC (SDR.LN) is likely to acquire about 30% of India’s Axis Asset Management Co. Ltd., the Business Standard newspaper reported Wednesday, citing people aware of the matter who it didn’t identify. The deal will help Schroders revive its presence in India and end the Axis Bank Ltd. (532215.BY) company’s search for a strategic partner in the mutual-fund business, the report added. Senior management from Schroders’ is likely to visit Mumbai next week to finalize the deal, […]
Financial Technologies (India) Ltd has offered 26,43,916 equity shares of face value of Rs. 10/- each of Multi Commodity Exchange of India Limited (MCX) in the recently concluded IPO for a consideration of Rs. 1,032/- per share.
The abovesaid disinvestment by FTIL was in terms of Equity Structure Guidelines dated July 29, 2009, issued by Forward Market Commission.
Subsequent to the disinvestment, FTIL is holding 26% in the equity share capital of MCX.
Source: Equity Bulls
Malaysia’s state investment arm, Khazanah Nasional, has sold its little more than 4 percent holding in India’s private sector lender Yes Bank for about $105 million, two sources with direct knowledge of the deal said on Monday. Khazanah sold the shares of Yes Bank in stock market block deals on Monday, said the sources, who did not want to be named as the information is not public yet. Khazanah and Yes Bank declined to comment. Credit Suisse was the sole […]
Overseas investor Bank Muscat India Fund on Friday purchased stakes in six Indian companies, including LIC Housing Finance and M&M Financial Services, through various open market transactions worth a total of about Rs 172 crore (US$34 million). Bank Muscat bought stakes in India Infoline, Lakshmi Overseas Industries, LIC Housing Finance, Mahindra & Mahindra Financial Services, DLF and Lakshmi Energy and Foods from Taib Securities Mauritius Ltd, while shares were sold in these companies by Taib Securities Mauritius. As per the […]
At a time when the government has renewed efforts to build a consensus on multi-brand retail FDI, private equity investors are stepping up investments in the logistics sector, seen as a key gainer if the policy gets through. The latest in the series of deals is an investment by US-based General Atlantic LLC, which manages approximately $17 billion in capital globally, in bulk logistics solutions provider Fourcee Infrastructure Equipment Pvt Ltd. While the exact investment amount was undisclosed, General Atlantic […]
Private equity-backed companies will potentially drive the primary market as their PE investors will look to exit with decent returns in the next few years. The trend will mostly be evident among small-and medium-sized companies which have achieved the targeted revenues and where the growth potential is high, according to investment bankers. Mumbai-based Broking and investment banking firm Anand Rathi Financial Services has shortlisted some 78 unlisted companies in which many leading PE investors bought stakes in the past, and […]
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