ADVANTA ENTERPRISES STAKE
Global investment firm picks up 12.5% in UPL subsidiary for $350 million
Alpha Wave Global is investing $350 million for a 12.5% stake in Advanta Enterprises Ltd, an Indian hybrid seeds company. The deal includes a primary investment of $100 million and a share purchase of $250 million from UPL, Advanta's parent company. UPL will use the proceeds to reduce debt, while Advanta will pursue growth opportunities.
Stocks in news: Airtel, Vedanta, Godfrey Phillips, UPL, Adani Enterprises
Fitch Ratings has maintained its 'B-' rating for Vedanta Resources Ltd (VRL), the parent of Vedanta, while assigning a positive outlook that signals potential upward momentum.
PE funds put $500 million into two UPL units
Abu Dhabi Investment Authority (ADIA), Brookfield and TPG will acquire a 9.09% stake in UPL SAS-India Agtech Platform for ?1,580 crore ($200 million) at a total valuation of ?17,380 crore ($2.1 billion). UPL-SAS includes the India crop protection business SWAL, Adarsh Farm Services and the Nurture digital platform.
ADIA, Brookfield, KKR and TPG to separately invest Rs 4,040 cr in UPL
UPL on Friday announced that Abu Dhabi Investment Authority (ADIA), Brookfield, KKR and TPG will be separately investing Rs 4,040 crore, or US$ 500 million for minority stakes in distinct pure play business platforms. ET had reported earlier this week that KKR and Co, Brookfield along with existing investors TPG and ADIA were in talks invest $500-550 million in two wholly owned subsidiaries of UPL, the leading agrochemicals, seeds, crop protection company??.
Holding companies grab eyeballs of investors with cheaper valuations
From the investment data in the balance sheets of listed companies, m-cap of about 50 holding companies is less than the value of their investment book.
Sensex ends day 75 points down, Nifty below 8,450; HPCL, IOC gain 6% each
The 30-share Sensex closed the day at 27,945.80, up 75.07 points. The broader 50-share Nifty ended 8.15 points down at 8,444.90.
Sensex slips 100 points, Nifty below 8,450; Ramco Systems up 20%,
The domestic markets were trading modestly lower. The S&P Sensex was testing 28,000 level. Nifty was struggling to hold the psychological mark of 8,450.
ET 500 2011: Lessons that India Inc has to offer on managing foreign acquisitions
Doing biz in India has stood them in good stead. A study of these acquisitions reveals some common practices followed.
RelCap, MCX, Spice in race for stake in OTCEI
Anil Ambani group firm Reliance Capital, MCX SX and B K Modi's Spice Group have evinced interest in picking up a stake in the Over-The-Counter Exchange of India (OTCEI).
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