Archive for August, 2010

Ercisson India acquires a minority stake in Novatium Solutions Pvt Ltd

Comments Off | 08-31-2010

Ericsson India reported that it had acquired a small stake in Novatium Solutions Private Ltd in a move it said is geared at bolstering its presence in emerging economies.  Novatium said it plans to use the accrued funds for a foray into the global market. That foray will be in terms of growth and expansion

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America based Fuel cells developer NEAH Power signs letter of intent with Bangalore based Eko Vehicles, to explore acquisition or merger plans

Comments Off | 08-30-2010

US based fuel cells developer; NEAH Power reported Friday that it had signed a letter of intent with Indian firm, Eko Vehicles, for a possible merger or acquisition. The Bangalore based Eko Vehicles is a manufacturer of two-wheeled electric vehicles and its agreement with the US based firm will see the two firms explore potential

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Italy’s insurance giant Generali wants to expand in Asia, notably in India and Vietnam

Comments Off | 08-28-2010

Italian insurance major, Assicurazioni Generali S.p.A, Thursday said it is keen on expanding its business in Asia, with focus to be put on India and Vietnam. Generali president was quoted saying the Italian insurance giant was mulling an Asian business expansion as it seeks to increase its global foothold. The reports emerged in the financial

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India government likely to consent to foreigners setting up limited liability partnerships (LLPs) in sectors where 100% foreign investment is allowed

Comments Off | 08-27-2010

The Indian government said it may soon be allowing overseas investors to set up limited liability partnerships in sectors that permit 100% foreign investment. The announcement comes after a lot of dilly dallying with regard to financing regulations for this type of business organization favored worldwide for its flexibility. The move therefore marks a decisive

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US private equity firm TA Associates in talks for 15% stake acquisition in Dr Lal Pathlabs from Sequoia Capital

Comments Off | 08-26-2010

TA Associates is in discussions with Indian firm, Dr Lal Pathlabs for the acquisition of a 15% stake in Dr Lal Pathlabs from Sequoia Capital. The investment will see the US based TA Associates remit about Rs 170 crore for the acquisition. Sequoia Capital controls about 30% stake in Dr Lal Pathlabs and the deal

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UK Company Vedanta Resources Bauxite mine plans turned down by Indian Environment Ministry, the $8 billion investment now in Jeopardy

Comments Off | 08-25-2010

In a move that jeopardizes Vedanta Resources $8 billion investment in India, the Indian Environment Ministry Tuesday announced that it had turned down the UK firm’s plan for a Bauxite mine in Orissa. The announcement comes as a shocker to Vedanta Resources, the India focused mining group that is still struggling with regulatory issues in

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Indian private security firm SIS India keen on raising equity for acquisition investments

Comments Off | 08-24-2010

Indian private security firm, SIS India Monday announced that it is planning a $100 million equity raising that will aid the firm in future acquisition investments. The Indian company said it is planning to raise the capital via private equity by diluting about 10% to 15% stake. The firm reiterated that it has its sights

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US based AppLabs acquires Hyderabad, India based software testing and quality management firm ValueMinds

Comments Off | 08-23-2010

US based software testing and quality management firm, AppLabs reported Friday that it had acquired the Indian developer of TestersDesk.com, ValueMinds. ValueMinds is based in Hyderabad, India and AppLabs said its acquisition will be funded by a combination of cash and stock. ValueMinds’ TestersDesk.com offers a set of tools that are utilized in testing data

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Bank of New York Mellon ups stake in India Cements Ltd

Comments Off | 08-21-2010

New York based bank, Bank of New York Mellon (BNY Mellon) said it had increased its stake in India Cements (ICL) to more than 10%. Bank of New York Mellon is an asset management and security trading firm with assets pegged at $21.8 trillion. The bank has increased its shareholding from the 1% it previously

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US based firm Blackstone announces Rs 1350 crore investment for a minority stake in Moser Baer Projects Ltd

Comments Off | 08-20-2010

In an investment that marks its biggest undertaking in India, US based buyout firm, Blackstone Group LP, Wednesday announced it was buying a stake in India’s Moser Baer Project Pvt. The stake acquisition will cost the US firm $300 million or about Rs 1350 crore. Blackstone Group LP is the world’s largest buyout company and

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