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Global private equity majors are understood to be holding discussions with Prestige Constructions to buy out a special economic zone (SEZ) here for close to Rs 1,800 crore. Called Cessna Business Park, the 4.5-million sq ft project houses marquee technology majors like Cisco as its clients. The rental-yielding fully-developed SEZ on the Sarjapur-Marathalli outer ring road, is one of Prestige’s landmark commercial space developments. A spokesperson for Prestige said there have been offers for this tech-park from global private equity […]
Muthoot Fincorp Ltd, is looking to dilute five-six per cent stake to private equity (PE) players or strategic investors. The non-deposit taking non-banking finance company (NBFC) expects to raise Rs 500-600 crore by divesting this stake, a top official of Muthoot Fincorp told Business Standard. Muthoot Fincorp is a 100 per cent subsidiary of Kerala-based Rs 20,000 crore, Muthoot Pappachan Group, which has interests in financial services-primarily gold loans —hospitality, IT infrastructure, property, automotive and renewable energy. “A lot of […]
Real estate developer BPTP is buying back Merrill Lynch’s 49% stake in its Crest office building in Gurgaon for Rs 180 crore. The developer has its corporate office in the same building. Merrill Lynch had invested Rs 100 crore in the project in 2007 at the peak of the real estate cycle in India. Now, Merrill Lynch’s Asian real estate assets, including those in India, are managed by Blackstone. BPTP recently raised Rs 270 crore through lease rent discounting of […]
Godrej Properties enters into private equity agreement with SUN-Apollo India Real Estate Fund, LLC acting through its affiliates/companies (SUN-Apollo).
The real estate developer sells 49% equity stake in a subsidiary developing its project at Sector 104 in Gurgaon.
Godrej Properties Ltd. (GPL), the real estate development arm of the Godrej Group, today announced an agreement with SUN-Apollo. Through this agreement, GPL has sold 49% equity stake in its subsidiary, Godrej Premium Builders Private Limited (GPBPL). SUN-Apollo has invested Rs. 45 […]
Kotak Realty Fund is investing Rs 170 crore in NCR-based developer BPTP’s residential township project Astaire Gardens in Sector-70A of Gurgaon. While the township project is spread over 102.2 acres, Kotak is taking over 50% stake in a 70-acre part of the project where BPTP is selling plots and villas. Kotak is investing in the project through its foreign fund Kotak India Real Estate Fund 1. A banking source close to the development said “this is a preferred equity transaction […]
Actis Advisors Pvt. Ltd, an emerging-markets focused private equity (PE) firm, has acquired a minority stake worth $71-million (Rs371.6 crore) in Aurangabad-based auto component maker Endurance Technologies Ltd. Founded in 1985 as Anurang Engineering Co. Pvt. Ltd, Endurance is a manufacturer of aluminium die casting that includes alloy wheels, suspension, transmission and braking products for two- and three-wheelers and passenger and commercial vehicles. The Endurance group consists of Endurance Technologies and its subsidiaries HTTS (India), Amann Druckguss (Germany), Endurance Fondalmec […]
UTI’s private equity arm, UTI Capital, has bought 4% stake in Indian Oiltanking, a joint venture between state-run Indian Oil Corporation and Germany’s Oiltanking GMBH, for Rs 100 crore. Indian Oiltanking, which builds operating terminals and storage facilities for petroleum products, will use the proceeds to fund its upcoming storage terminal in Paradip and for its overseas EPC projects, said Jayanta Bhuyan, managing director, Indian Oiltanking.
“We have been looking at raising funds from private equity players primarily to fund […]
Vivimed Labs Ltd. Thursday said it acquired Uquifa, a maker of active pharmaceutical ingredients and intermediates with operations in Spain and Mexico. Vivimed, a maker of pharmaceutical formulations, didn’t give financial details of the deal, but said the move is aimed at expanding its footprint in Europe and the Americas. Uquifa is the pharmaceutical division of U.K.-based Yule Catto PLC and operates two manufacturing sites in Spain and one in Mexico, its website showed. Uquifa will become the active pharmaceutical […]
Kingfisher Airline’s embattled chairman said he is close to sealing a $370m deal with an Indian private investor and a banking consortium that would save his cash-strapped carrier.
Vijay Mallya said in an interview with the Financial Times he would soon close a deal with 14 banks led by State Bank of India, the country’s largest lender by revenues, that would provide the airline with working capital – a short-term loan for the running of the company – of […]
Global consulting firm Nomura Research Institute (NRI) today said it has decided to acquire 25.1% stake in Market Xcel Data Matrix for an undisclosed amount. “Interest in the Indian market is growing among many Japanese companies…NRI will provide them with much quicker and more elaborate research and consulting services, with our partnership with Market Xcel, we see great value coming to our efforts in this direction,” NRI Director and Corporate Senior Vice President Shiro Tanikawa said in a statement. The company however did not disclose financial details. NRI's Indian subsidy will start operating in November, 2011. At first, it will have 10 staff members, but this figure will rise to around 30 after five years, it added. […]
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