The Private Equity Deals in May were at $872 mn.
Deals include QIP Issues
TGP Capital - $600 mn in Indiabulls Real Estate
IFC - 4.4% Stake in Max India - $33 mn
India Value Fune - $44mn - Innovative B2B Logistics
The first five months had 74 transactions with value of $2.19 bn vs 163 deals worth $6.12 bn
Friday, June 19, 2009
PE Actions
Q investments sells out from Telecom tower firm XCEL Telecom to American Tower Corp
They had invested approx $40 mn and exited out with $154 mn
Thursday, June 11, 2009
Merger and Acquisition
Goa's biggest family-owned mining company, the Dempo group, has sold all its mining assets to Sesa Goa Limited, a majority-owned subsidy of the London-listed Vedanta Resources, for Rs.1,750 crore (Rs.17.50 billion/$368 million) in an all-cash deal.
Addressing the media in Panaji late Thursday evening, chairman and managing director of the Dempo group, Srinivas Dempo, said that the 19 iron ore mines in Goa controlled by the V.S. Dempo mining corporation, had 70 million tonnes of iron ore reserves with a lease life of approximately 17 years, 'making it an ideal time to monetize their Goa mining assets'.
'We have only sold our Goa mining assets, but have retained our other mining interests in Sindhudurg, Maharashtra. It was a good time to sell our Goa assets and use the monies to focus on larger mining interests elsewhere, both within the country and overseas,' he said.
Srinivas Dempo, a scion of one of Goa's leading business families, which has been in the mining business for the last 50 years, said that the Dempo group would also use the new infusion of cash in other sectors such as education, media, food processing, shipbuilding, etc.
Under the present agreement, the assets which have been taken over by Sesa Goa are the Dempo group's mining rights to 19 leases in Goa and related infrastructure such as barges, jetties, transshippers and berthing facilities at the Mormugao port.
In 2008-09, the Dempo group exported 4.36 million tonnes of ore and reported revenues to the tune of Rs.976 crore.
The Dempo group currently has four long term contracts with steel mills in China, Japan and Hong Kong. The group's other interests include coke, pig iron production, real estate and construction, football, education and the media.
Addressing the media in Panaji late Thursday evening, chairman and managing director of the Dempo group, Srinivas Dempo, said that the 19 iron ore mines in Goa controlled by the V.S. Dempo mining corporation, had 70 million tonnes of iron ore reserves with a lease life of approximately 17 years, 'making it an ideal time to monetize their Goa mining assets'.
'We have only sold our Goa mining assets, but have retained our other mining interests in Sindhudurg, Maharashtra. It was a good time to sell our Goa assets and use the monies to focus on larger mining interests elsewhere, both within the country and overseas,' he said.
Srinivas Dempo, a scion of one of Goa's leading business families, which has been in the mining business for the last 50 years, said that the Dempo group would also use the new infusion of cash in other sectors such as education, media, food processing, shipbuilding, etc.
Under the present agreement, the assets which have been taken over by Sesa Goa are the Dempo group's mining rights to 19 leases in Goa and related infrastructure such as barges, jetties, transshippers and berthing facilities at the Mormugao port.
In 2008-09, the Dempo group exported 4.36 million tonnes of ore and reported revenues to the tune of Rs.976 crore.
The Dempo group currently has four long term contracts with steel mills in China, Japan and Hong Kong. The group's other interests include coke, pig iron production, real estate and construction, football, education and the media.
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