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Staples Inc, the largest U.S. office supply chain, plans to buy out its Indian partner Future Group’s stake in its wholesale operations for up to $35 million, a source with direct knowledge of the development said. Staples will acquire 39 percent of its Indian wholesale joint venture from Future Group, which controls India’s largest listed retailer, at 1.5-2 billion rupees, taking its stake to 89 percent, the source said. “The deal will be announced in mid July… the details of […] Private equity firms Blackstone Group and Kohlberg Kravis Roberts & Co (KKR) are discussing a large stake buy in the cement unit of the Shiram Group, the Times of India reports. Shriram EPC, which took controlling stake in Andhra Pradesh-based Sree Jayajothi Cements, plans to raise more than INR400 crore to boost operations. KKR already holds a stake in another Indian producer, Dalmia Cements. Another US private equity Mount Kellett also met with Shriram on the potential investment opportunity […] Karaikal Port Pvt. Ltd., a unit of Indian infrastructure company Marg Ltd., said Wednesday Standard Chartered Private Equity (Mauritius) II Ltd. has bought a minority stake in the company for 1.3 billion rupees ($23 million). A part of the funds will be used to expand the Marg Karaikal Port capacity to 28 million metric tons a year from 21 million tons, Karaikal Port said in a press release. The all-weather, deep-water, multi-commodity port is located between Chennai and Tuticorin ports […] Air Works India Engineering Pvt Ltd has completed stake acquisition in Dubai-based Empire Aviation Group (EAG), EAG’s financial advisor for the deal Alpen Capital (ME) Ltd has said. The strategic acquisition will help Air Works increase its footprint in the Middle East and provide aircraft management services to its Indian customers. Air Works did not disclose the stake. Air Works said the deal was funded through a mix of internal accruals and structured debt finance of Rs120 crore from KKR […] Baring India Private Equity has picked up 5.94% stake in gold finance company Manappuram Finance for an estimated Rs 136 crore. The private equity firm bought about 5 crore shares of Manappuram Finance from the open market, the gold finance company informed the BSE. Shares of the Manappuram Finance today closed at Rs 27.15, up 10.37% on the BSE. At today’s closing price, Baring India picked up stake in Manappuram Finance for about Rs 136 crore. Meanwhile, rating agency Brickwork […] |