Archive for March, 2011

German car maker Volkswagen plans investment of US$24 million in India

Comments Off | 03-31-2011

German car maker Volkswagen is planning to invest approximately Rs 120 Crore in India for the establishment of a non-banking financial arm, reported PTI. The car maker’s Volkswagen Finance Private Ltd has already received license from the Reserve Bank of India that allows it to commence operations of its Non-Banking Finance Company (NBFC).
In a statement,

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3i India Infrastructure Fund to invest around $111.51 million in KMC Infratech Limited

Comments Off | 03-31-2011

3i India Infrastructure Fund, an investment fund established by international investor 3i Group plc, (3i) is investing around $111.51 million in KMC Infratech Limited (KMCIL), a subsidiary of KMC Constructions Limited (KMCCL). KMC Infratech was incorporated in 2008 and is the flagship company of KMC Constructions Limited for all its existing and prospective road “build,

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Marico Group sells refined sunflower oil brand ‘Sweekar’ to Cargill India Private Limited

Comments Off | 03-30-2011

The Marico Group announced it has divested its refined sunflower oil brand ‘Sweekar’ to Cargill India Private Limited (Cargill). The transaction, for an undisclosed consideration foresees an assignment of the Sweekar trademark and copyrights from Marico to Cargill. The transaction takes immediate effect.
Mr. Saugata Gupta, CEO of Marico’s Consumer Products Business, commented that in recent

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Pitney Bowes Business Insight to invest Rs 500 Crore in India over the next three years

Comments Off | 03-29-2011

Software firm Pitney Bowes Business Insight is planning to invest an estimated Rs 500 Crore in India. The investment is aimed at reinforcing Pitney Bowes product development centre and sales and marketing team in the country. The investment will be undertaken over the coming three years, reported the Economic Times of India.
President John O’ Hara,

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Reliance Equity Advisors invests Rs 120 Crore in Shankara Pipes India Ltd

Comments Off | 03-28-2011

Reliance Equity Advisors has invested Rs.120 Crore in Bangalore based Shankara Pipes India Ltd. The Bangalore business was incorporated more than ten years ago and is involved in the distribution of a variety of steel tubes and pipes, reported the Times of India. Shankara Pipes India is promoted by Sukumar Srinivas and has over 600

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Sesa Goa Limited purchases assets of Bellary Steel & Alloys Limited

Comments Off | 03-25-2011

Sesa Goa Limited (SGL) has purchased the assets of the upcoming Steel Plant Unit of Bellary Steel & Alloys Limited (BSAL). The investment is for an all cash consideration of Rs 220.00 Crore. BSAL’s secured creditors, represented by IFCI Ltd, had taken over possession of the properties of BSAL in association with the official liquidator.
BSAL

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Meinhardt Group picks up 100% of India’s leading provider of advanced engineering services, Eigen Technical Services

Comments Off | 03-25-2011

The Meinhardt Group has acquired India’s leading provider of advanced engineering services to the global construction industry, Eigen Technical Services Pvt Ltd. The Meinhardt Group is a global engineering, infrastructure and project management consultancy firm. The Meinhardt Group acquires Eigen Technical Services from Laing O’Rourke, the privately-owned, international engineering and construction group.
Meinhardt expects the investment

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Publicis Groupe picks up majority stake in leading Mumbai healthcare advertising agency

Comments Off | 03-24-2011

Publicis Groupe is to acquire a majority stake in Watermelon Healthcare Communications Private Limited, a leading healthcare advertising agency in Mumbai, India. Post the stake acquisition, Watermelon will become part of Publicis Healthcare Communications Group (PHCG) and will be renamed Publicis Life Brands Watermelon. This transaction is subject to customary local closing conditions.
Watermelon is a

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Voltas Limited and Germany’s KION Group form a joint venture

Comments Off | 03-22-2011

India’s Voltas Limited and Germany’s KION Group GmbH have agreed to set up a joint venture in India for the development, manufacture, marketing, and servicing of forklift trucks and warehousing equipment. Voltas’s material handling operations will be integrated into a new joint venture company (JV), where the KION Group will hold a majority share.
The JV

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Goldman Sachs Asset Management to acquire Benchmark Asset Management Company

Comments Off | 03-21-2011

Goldman Sachs Asset Management is to acquire Benchmark Asset Management Company, an asset management company in India. The transaction is expected to close later in the year, subject to regulatory approvals. The terms of the transaction were however not disclosed.
Benchmark Asset Management Company was founded in 2001 and is the number one Exchange Traded Funds

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