Tata-Tesco JV plans over $40 million (Rs 250 crore) investment
to open more stores
Trent Hypermarket — the equally owned JV between the Tata
Group and UK's Tesco — plans to invest Rs 250 crore as
the only Indian multi-brand retailer with foreign investment aims
to open more stores. Trent's board has been authorized to raise
up to Rs 250 crore via loans, guarantees, securities or by way of
subscriptions. In December 2013, the previous Congress-led
government had approved Tesco's application to invest
approximately$110 million in the joint venture. Trent intends to
add another five hypermarkets in 2015 to the dozen outlets it
already has, but the main focus is on opening smaller convenience
stores. The previous government allowed up to 51% foreign holding
in multi-brand retail in late 2012 and said states can make the
decision on whether or not to allow such outlets in their
Few other India-UK specific deal announcements
Whyte & Mackay
India's United Spirits Ltd agreed to sell its Whyte &
Mackay Scotch whisky unit to Emperador UK Ltd (wholly owned
subsidiary of EmperadorInc) in a 430 million pound (~ $729 million)
deal that satisfies UK antitrust concerns.
The deal is dubbed as the single biggest investment by a
Philippine company in Scotland and the 3rd biggest in the
New Call Telecom
UK-based privately held communication services provider New
Call Telecom has acquired a 70% stake in instant messaging and
mobile calling application firm Nimbuzz for around $175
Founded in the Netherlands in 2006, Nimbuzz shifted its
corporate headquarters to Gurgaon in India a couple of years
It claims to have 201 million subscribers in over 200
New Call will integrate the capabilities of the Nimbuzz
platform along with a plethora of new apps with its Wi-Fi and home
broadband service in India, and eventually in other parts of the
Other India-related Deals
ING Vysya Bank
Kotak Mahindra Bank
The deal entails the swap of 725 Kotak Mahindra shares for
every 1,000 shares in ING Vysya.
The merged firm would have over 1,200 branches and a combined
deposit base of Rs.1.1 trillion (~$ 17.74 bn).
The combined entity will be the largest private sector lender
in India by assets after ICICI Bank, HDFC Bank and Axis Bank.
Ventures Ltd (JPVL)
JSW Energy will acquire two hydroelectric projects of JPVL in
Himachal Pradesh at an enterprise value of about Rs 9,700 crore
(~$1.57 billion), in one of the biggest infrastructure M&A
deals in India in 2014.
The acquisition will make JSW Energy the largest private sector
hydro-power generator in the country.
Post-acquisition, the aggregate installed power generation
capacity of JSW Energy will enhance to 4,531 MW.
Ltd's Cement Units
UltraTech has struck a deal to acquire two units of Jaiprakash
Associates Ltd located in Madhya Pradesh (MP) at an enterprise
valuation of Rs 5,400 crore (~$853 million).
The deal involves acquisition of an integrated cement unit with
clinker capacity of 2.1 mtpa and cement grinding capacity of 2.6
The other unit has clinker capacity of 3.1 mtpa with cement
grinding capacity of 2.3 mtpa in the same state.
The deal would also involve transfer of 25 MW power capacity at
Bela and 155 MW capacity at Sidhi, both located in MP.
&Infrastructure Ltd's thermal power project
Adani Power Ltd
Adani Power has struck a deal to buy Avantha Power &
Infrastructure Ltd's 600 MW thermal power project Korba West
Power Co Ltd (KWPCL) for an enterprise value of Rs 4,200 crore
The acquisition will increase Adani Power's installed
capacity to 11,040 MW.
KWPCL's power project is located in Chhattisgarh and the
deal values it at ~Rs 7 crore per MW.
Tech Mahindra Ltd
IT and software services provider Tech Mahindra has acquired
US-based global network services provider Lightbridge
Communications Corporation (LCC) for $240 million in an all-cash
The deal, one of the largest overseas acquisitions in the IT
space, is subject to regulatory approvals and is expected to close
by March 2015.
Headquartered in Virginia, LCC is one of the world's
largest independent providers of network engineering services to
Originally published February 2015
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The Ministry of Corporate Affairs notified on June 5, 2015 that certain provisions of the Companies Act, 2013 shall not apply to private limited companies or shall apply with such exceptions or modifications as directed in the notification.
Whilst trade and barter have existed since early times, the modern practice of forming business relationships through the means of contract has come into existence only since the industrial revolution in the West.
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