24 May 08 Bharti Airtel MTN takeover deal fails
Bharti Airtel, India’s largest private sector telecom company, has made a public announcement stating that the talks with South Africa based MTN Group have failed. It seems there has been differences between the management of both the companies over which company would end up with the control of the merged entity. The combine, if the deal had materialised, would have been the world’s 6th largest mobile operator. It should be noted that MTN is much larger in size than Airtel and hence it wanted control over the merged entity after the merger took place. Bharti Airtel did not agree to this deal and instead wanted the control of the merged entity for itself.
25 Dec 07 Record Date for Indiabulls Financial Merger and Demerger
The Record Date for Indiabulls Financial Services Merger and Demerger has been fixed as January 08, 2008. The record date was announced to the stock exchanges by the Board of Directors of Indiabulls Financial Services Limited held on Monday. The Financial Merger and Demerger approved by the Honourable High Court of Delhi, New Delhi. More details about the Indiabulls Financial Merger and Demerger coming soon.
29 Nov 07 Shaw Wallace – United Spirits Merger Swap Ratio Fixed
The merger swap ratio for the Shaw Wallace – United Spirits Merger has been fixed. Under this swap ratio, the shareholders of Shaw Wallace & Company Limited will receive 4 shares of United Spirits for every 17 shares of Shaw Wallace that they hold. Fractional holdings will be pooled together, sold in the market and the realisation will be distributed on a pro rata basis to the shareholders of Shaw Wallace.
21 Nov 07 Reverse Merger of Simplifly (Air) Deccan and Kingfisher on the cards?
If market rumours are to be beleived Vijay Mallya is looking at a reverse merger possibility of Kingfisher Airlines with Air deccan, which has now been renamed as Simplifly Deccan. Vijay Mallya is said to be contemplating over this move since it could get Kingfisher licence to fly new foreign routes. The shares of Simplifly Deccan (Air Deccan) have zoomed by over 20% in the past 2 days on a cumulative basis. However, I suggest that investors don’t rush and buy shares of Air Deccan at the moment. Shares of deccan aviation are over priced and in case the news of reverse merger happens to be false, the hsre prices of Deccan Aviation are likley to tumble. As the old wall street adage goes, buy on rumours, sell on news…it now is too late to act on this rumour.
12 Nov 07 IVRCL Infrastructure acquires Alkor Petroo
IVRCL Infrastructures & Projects Limited has informed the stock exchanges that it has entered into a share purchase agreement with Alkor Petroo, last week. As per the share purchase agreement, IVRCL Infrastructure will acquire 100 of the shares in Alkor Petroo which is an unlisted closely held pvt ltd company. Alkor Petroo is an oil exploration company which has 5 oil exploration blocks in Yemen and Egypt. Through this acquisition, IVRCL Infrastructure enters the oil exploration industry which is a high risk – high returns game.
08 Oct 07 Bharti Airtel may sell Bharti Infratel to Temasek or Warburg Pincus
Bharti Airtel moved up by about 2% today after news reports that Bharti Airtel may sell Bharti Infratel to a private equity player, hit the markets. It has been reported that Bharti Airtel is in talks with two private equity players, the government of Singapore promoted Temasek and US based Warburg Pincus. Bharti Airtel was a Warburg Pincus portfolio company. Infact, the Bharti Airtel – Warburg Pincus story has been a key catalyst in attracting a long line of global private equity (PE) investors to India since 2005, when Warburg Pincus exited Bharti Airtel making a return of over a billion dollars on the investment they made in Bharti Airtel in 2000-2001.
08 Oct 07 Essar Steel Delisting Offer Price Fixed
Essar Steel Holdings Limited has fixed the delisting price of Essar Steel Limited. The Essar Steel delisting price which was determined by the reverse book building process where shareholders bid on the delsiting price is Rs. 48 per share of face value Rs 10 each. This announcement was made by Edelweiss Capital Limited which is the Manager to the Delisting Offer. The minority shareholders of Essar Steel Limited have two options. They can choose to surrender their shares to Essar Steel Holdings Limited for Rs. 48 per share or they can choose to hold on to the shares of Essar Steel Limited, which will be delisted and hence not traded on the stock exchanges. The risk with choosing the latter option is the lack of liquidity after delisting. Shareholders might not be able to sell the shares of Essar Steel Limited at all and may be struck with them for eternity. However, these shareholders will continue to enjoy all shareholder rights such as voting rights and right to receive dividend along with other benefits arising from various corporate actions of Essar Steel Limited.
20 Sep 07 L&T to acquire stake in Feedback Ventures
Larsen and Toubro (L&T) plans to acquire a stake in Feedback Ventures, an integrated infrastructure services company. DLF, HDFC and IDFC are some of the other shareholders of Feedback Ventures. L&T is likely to acquire stake in Feedback Ventures through L&T Infrastructure finance which is the investment vehicle for the Larsen and Toubro group. The share prices of L&T have zoomed following this news.
13 Sep 07 3i Infotech acquires 26% stake in taxsmile.com
3i Infotech Limited has informed the stock exchanges that it has acquired 26% stake in taxsmile.com. 3i Infotech seems to be in the middle of a acquisition spree. Recently 3i Infotech had aquired majority stake in HCCA Business Services, a company which specialises in HR and payroll processing. Markets sources say 3i Infotech is closing in on acquiring majority stake in two other companies also.
13 Sep 07 Malar Hospitals Open Offer
Pursuant to the acquisition of Malar Hospitals by Fortis healthcare Limited, Ambit Corporate Finance, on behalf of Oscar Investments, a subsidiary of Fortis healthcare Limited, has announced that Oscar Investments has made an open offer to the shareholders of Oscar Investments to acquire 37,18,852 shares at Rs. 30 per share payable in cash to shareholders who surrender their shares through the open offer.
07 Sep 07 Fortis Healthcare to acquire Malar Hospitals
The shares of Malar Hospitals zoomed by over 10% today after news of Fortis Healthcare Limited aquiring Malar Hospitals hit the markets. Fortis Healthcare Limited will acquire Malar Hospitals through its fully owned subsidiary, International Hospital and Oscar Investments. Malar Hospital is a Chennai based company which has a well-known and reputed hospital in Adyar, Chennai.
02 Sep 07 The KingFisher (Vijay Mallya) bids for spyker (Jordan) F1 Team
The KingFisher (Vijay Mallya) is back in action once again. Vijay Mallya sensing the huge business opportunity Formula 1 (F1) provides, has pounced on the opportunity to acquire the cash stripped spyker formula 1 team. Spyker F1 team was bought from Eddie Jordan (was known as the Jordan F1 Team then) a year ago. Kingfisher already sponsors the Toyota team. Vijay Mallya would buy the Spyker F1 team along with Michiel Mol and the consortium would be named Orange India Holdings.
08 Aug 07 Vijaya Bank to acquire North India based Bank : Acquisition news boosts stock prices
There is a buzz in the market that Vijaya Bank is planning to acquire a north India based bank. As per unconfirmed reports, Vijaya Bank has identified three banks and is likely to select one bank from the three banks shortlisted. By this acquisition, Vijaya Bank intends to boost its presence in North India. Vijaya Bank stock was up by over 4% after this news hit the markets. Vijaya Bank shares are now trading at Rs. 55.50 close to its 52 week high of Rs. 58.50.
06 Jun 07 Alstom Projects India wins signaling contract from Delhi Metro
Alstom Projects India Limited has informed the stock exchanges that the Alstom Transport led consortium has bagged a new contract worth Rs. 255 crores from the Delhi Metro Rail Corporation (DMRC) for providing Train Control and signaling systems for Line 1 and 2 extensions. Alstom Projects announced that the metro line 1 and 2 extension covers 37 kms. (including underground section). Alstom Projects expects the project to be completed by March 2010.
04 Jun 07 Paramount Airways to acquire GoAir
If all goes well, the Indian skies would witness another mega merger / acquisition. Chennai based Paramount Airways is in talks with the wadias for aquiring a stake in loss making budget airlines GoAir. Paramount Airways seems to be interested in GoAir’s parking bays, pilots and aircraft. Paramount Airways has placed a $100-150 million cash buyout proposal for buying out GoAir. Wadias may also be offered a stake in the new merged entity (Paramount Air? or Go Paramount?) to make the deal more attractive. There is a huge consolidation taking place in the Indian aviation industry which has already seen 3 large mergers / acquisitions such as the Kingfisher / Air Deccan deal, the Jet airways’ acquisition of Air Sahara and the indian airlines -air india merger, in the recent past.
