Mergers & Acquisitions
Tata Power In Race For Singapore’s Power Co - Tata Power Company Ltd has been shortlisted with five others in a bid to acquire Singapore-based power generation company Senoko Power, reports DNA. The deal is size is expected to be $3 billion. The power company generates 3,000 mw of electricity. Temasek, Singapore’s state-owned investment company controls Senoko.
Satyam To Acquire Two Firms – NYSE-listed Satyam Computer Services Ltd is in acquisition talks with at least two firms to boost its sports vertical, reports DNA. Stayam’s sports vertical contributes $20-25 million to its revenues and has bagged IT contracts for FIFA World Cup 2010 and 2014.
Sona Okegawa To Acquire Chinese Co - Sona Okegawa Precision Forgings is close to acquiring a forgings company in China for around $30 million, reports Business Standard. The Chinese company would be used by Sona as a manufacturing base to serve the domestic original equipment manufacturers (OEMs) there and export to those in Europe and in the US.
Fulcrum Group And Butterfield Fund Services To Merge – 3i Group backed fund administrators Fulcrum Group and administration services provider for investment and pension funds have announced their merger. The merged entity will be called Butterfield Fulcrum Group and will be headquartered Bermuda. The firm will have close to $100 billion in assets under administration from nearly 1,000 hedge funds, fund of funds, private equity and institutional investment management clients.
AP Govt Keen On RINL-NDMC Merger - Andhra Pradesh Government is keen on the proposed merger of public sector undertakings Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) with the National Mineral Development Corporation (NMDC). The state chief minister believes there is synergy between the two companies, reports Hindu Business Line.
Private Equity
AFL Logistics To Dilute Stake To PE Players - AFL Logistics is considering sale of up to 25 per cent stake to private equity funds, reports Economic Times. The company businesses include logistics, express courier service and international cargo business. The company may also go for an IPO soon.
Ruia’s To Dilute 15% Stake In Phoenix Mills - Ruia family, who are the promoters of the Mumbai-based Phoenix Mills, are looking to dilute 15-20 per cent stake in the holding company and have initiated talks with DLF, Reliance Capital and Indiabulls, reports Financial Chronicle. Phoenix has quite a lot of land in prime Parel locality of Mumbai.
Clean Energy Funding Reaches Record $5.8 bn – Investments by private equity and venture capital funds in clean technology has set a record of $5.8 billion worldwide in the quarter ending June 2008, according to research firm New Energy Finance. The biggest deal in the segment was when private equity firm First Reserve Corp. bought Spanish-based photovoltaic builder Gamesa Solar for $407 million