GIC Teams Up With Brookfield REIT for $1.4-Bn Deal To Buy Office Assets Together with Canadian alternative investor Brookfield Asset Management Inc., Singapore sovereign wealth fund GIC and Brookfield India Real Estate Investment Trust (REIT) have agreed to pay roughly Rs 11,225 crore (almost $1.4 billion) for two commercial properties. For around Rs 150 crore (about $18 million), Brookfield India RIET will also purchase a 100% stake in Mountainstar India Office Parks Pvt. Ltd., the company in charge of managing
Tag: corporate finance
Corporate Finance Alert – April 2023
Brookfield Renewable To Invest $1 Bn In Avaada Group Brookfield Renewable is investing $1 billion (about Rs 8,200 crore) in Avaada Ventures Pvt. Ltd to help finance the renewable energy company’s green hydrogen and green ammonia businesses. The renewable energy arm of Canada’s Brookfield Asset Management Inc. will make the investment via the Brookfield Global Transition Fund. Thailand’s Global Power Synergy Public Company Ltd will separately invest $68 million in Avaada Energy Pvt. Ltd to help it cut debt and
Corporate Finance – March 2023
Jindal Stainless Buys $157-Mn Stake in Indonesian Firm to Secure Nickel Supply In order to guarantee a supply of nickel, a crucial component in the creation of stainless steel, India’s Jindal Stainless Ltd paid $157 million for a 49% share in New Yaking Pte. Ltd, a company with headquarters in Indonesia. In accordance with the agreement, a nickel pig iron facility will be built and run in Indonesia’s Halmahera Islands. Within two years, the factory will be put into operation,
Corporate Finance Alert – February 2023
I Squared Capital Buys Controlling Stake in Gram Power for $100 Mn I Squared Capital, a multinational private equity firm, has invested $100 million for a controlling stake in the Jaipur-based smart metering business Gram Power (around Rs 826.55 crore). Gram Power is entirely owned by Singapore-based Polaris Smart Metering Pte Ltd. However, the enterprise value of the deal could not be ascertained. I Squared Capital, which oversees assets worth over $36 billion, made this deal through its $2 billion
Corporate Finance – January 2023
GEF Capital Invests Rs. 500 Cr In E-Mobility Firms The e-mobility businesses Electra EV and Hero Motors Ltd. have received investments from the private equity fund GEF Capital Partners totaling more than 500 crore rupees. This is a component of the investor’s plan to increase their stake in India’s climate and sustainability potential. With this, GEF has invested eight times over the previous four years. Independent EV powertrain solutions provider Electra EV is supported by businessman Ratan Tata. Its products
Corporate Finance – December 2022
Poonawalla To Target Growth-Stage Firms With Rs. 1,000 Cr Fund; The Poonawalla Vision Fund, with a capital of $1 billion, was established by the chief executive of Serum Institute of India with regulatory approval. An application for registration as a category-II alternative investment fund was submitted to the Securities and Exchange Board of India (SEBI) on September 29. (AIF). The application is being reviewed. AIFs in category II are those that only use borrowing or leverage to meet their day-to-day
Corporate Finance Alert – October 2022
Bira91 to Buy Beverage Chain Beer Cafe: The Beer Café is set to be acquired by beer maker Bira 91 as it eyes a stronger play and offerings in pubs & taprooms market. It presents a huge opportunity for Bira 91 to leverage its infrastructure, experience, and expansion capabilities to further refine The Beer Café’s strong operating model and better serve its loyal & passionate base of beer enthusiasts. Target’s management, led by Rahul Singh who is CEO and founder,
Corporate Finance Alert
Axis Bank to acquire Citi’s consumer business in India for $1.6 bn: One of the leading private sector banks in India, Axis Bank has agreed to acquire Citibank’s consumer business in India. The deal will be undertaken for INR 12,325 crore ($1.62 billion), in an all-cash deal, which includes Citi’s credit cards, retail banking, wealth management, and consumer loan business. Presently, Citibank caters to 3,000 corporate clients in India. It operates 35 branches serving 2.9 million retail customers with 1.2 million bank accounts. Axis,