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: finance news
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 – 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,
Finance News Alert
Bharti Airtel to buy Vodafone’s equity stake in Indus Tower: Telecom operator Bharti Airtel Ltd has agreed to buy Vodafone Group’s 4.7% stake in India’s largest cell tower firm Indus Towers Ltd. Vodafone Group is looking to sell its entire stake in Indus Towers Ltd. Currently, Vodafone holds about 28% in Indus Towers while that of Bharti Airtel is close to 42%. Vodafone has said that the cash it raises via these stake sales would be infused in loss-making Vodafone
Latest financial news of private equity, venture capital and mergers & acquisitions.
RIL arm to invest ₹300 cr in robotics co: Reliance Retail Ventures Ltd, the retail unit of Reliance Industries Ltd, is likely to acquire a minority stake in warehouse robotics company Addverb Technologies Pvt. Ltd for around ₹300 crore. If the deal goes through, it will value Addverb Technologies at ₹1,590-1,660 crore. The company claims its products help companies improve space utilization in warehouses and factories by leveraging robotics and warehouse automation. It caters to industries such as e-commerce, health,
Reliance Retail to acquire 66.95% stake in Just Dial for $766 mn
Reliance Retail Ventures Limited (RRVL) will acquire a controlling 66.95% stake in local search engine platform Just Dial Ltd for Rs 5,713 crore ($766 million) via preferential allotment of shares and open offer. RRVL signed a definitive agreement to buy 40.95% stake in the company for around Rs 3,497 crore ($469 million) and make an open offer to acquire up to 26% equity. The deal includes preferential allotment of 2.12 crore equity shares equivalent to 25.33% post preferential share capital at Rs
Tata Group to buy majority stake in BigBasket for $1.3 bn: February 2021 Finance News
India’s Tata Group will buy a 68% stake in online grocery startup BigBasket for about Rs 9,500 crore ($1.31 billion). The salt-to-software conglomerate has been planning to launch a “super app” that will tie in all its consumer businesses. Bengaluru-based BigBasket competes with Walmart Inc-owned Flipkart and Amazon’s “Fresh” service as more consumers stay indoors and choose to shop online during the COVID-19 pandemic. Tata’s stake will translate into an enterprise value of Rs 13,500 crore for BigBasket, which is
Abu Dhabi’s Mubadala to invest $853 mn in RIL’s retail unit: October 2020 Financial News
Mubadala Investment Company will invest Rs 6,247.5 crore ($853 million) in Reliance Retail Ventures Ltd, making the Abu Dhabi sovereign wealth fund the fourth investor in the unit. This investment will translate into a 1.4% stake in Reliance Retail Ventures on a fully diluted basis. The investment values Reliance Retail at a pre-money equity valuation of Rs 4.285 trillion. Here are some latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity Blackstone earnings jump on
Indiabulls Real Estate to Merge with Embassy Group’s Units: September 2020 Financial News
Indiabulls India Estate and two subsidiaries of the Embassy Group have entered into an agreement to merge their residential and commercial projects. This shall become one of the India’s leading real estate development platforms, with 80.8 Million sq. ft. launched and planned development potential. Here are the latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity Agri-business firm DCM Shriram raising debt capital again for expansion: DCM Shriram Ltd, diversified manufacturing company that makes products