The Future Group was reportedly negotiating a takeover of the Bangalore-based supermarket chain Nilgiris. British private equity firm Actis Capital bought Nilgiris for USD65 million and currently owns 65% of the company.
Tags: India
EU lifts ban on tankers transporting Iranian crude
Following a nuclear deal reached in Geneva, the European Union has removed the ban on insuring tankers transporting Iranian oil. The EU also agreed to release USD4.2 billion in frozen oil assets and permit Iranian crude exports to continue at its current levels.
India is top attractive investment destination, overtakes China - survey
A survey taken by professional services company Ernst & Young has shown that India has toppled China from the top spot as the world's most attractive destination for investments.
Private equity firms fuel consolidation of IT services and BPO in India
In a report, the Business Standard said private equity firms are a significant contribution to the consolidation of IT services and BPO sector in India. There were five private equity transactions closed this year that totaled USD1.13 billion in value.
Strategic investors eye majority stake in Indian eye care hospital chain Vasan Healthcare
Strategic investors were said to be in discussions to buy a majority stake in Vasan Healthcare, which operates eye care hospitals and dental centers in India.
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Bank of America Merrill Lynch or BofAML has topped Citibank and Morgan Stanley in executing deals in India for the past 11 months, completing transactions worth USD 7.96 billion.
India's Department of Disinvestment, which oversees the divestment of ownership stakes of the state of India in several companies, were pushing for a float to happen to capitalize on the rally of stocks on the financial bourse.
Singapore's Ascendas Pte Ltd. on Tuesday said it would raise SGD600 million (USD481.6 million) to invest in real estate in India. Singapore's sovereign wealth fund, GIC Pte Ltd. would be a principal investor in Ascenda's fund.
The CDC Group, the development finance institution of the UK government, will be pouring more investments in India despite the sluggish economy, delayed reforms and a competitive private equity market.
American tire company Cooper Tires & Rubber Co. seeks to obtain a Supreme Court ruling forcing India's Apollo Tyres to complete the merger. The USD2.3 billion deal would make Apollo the seventh-biggest tire maker in the world.
Finland-based mobile social messaging startup Jongla recently raised EUR1.4 million in a funding round from Oy Ingman Finance to be used for the development of its youth-oriented messaging app.
Private equity firms investing in India seek government action on alleged fraud with portfolio firms
Many local and foreign private equity firms have been seeking the government of India to conduct investigations on alleged fraud and poor corporate standards of some portfolio companies.
With its joint venture agreement with Reliance Retail, Marks & Spencer CEO confirmed plans to expand the number of stores in India from 36 to 80 by 2016.
Pepsico CEO says that India has degraded from 'must invest' to 'must deal with' because of infrastructure issues such as corruption and unclear taxation policy.
