Page 17 - Stake Sale

Blackstone buys majority stake in wealth management firm ASK from Advent

Global private equity major Blackstone on Monday announced that it has acquired a majority stake in ASK Investment Managers, a nearly three-decade old asset and wealth management company managing over USD 10.6 billion in assets. The US-based private equity fund has acquired the majority stake from its peer Advent International and other sellers, as per an official statement, which added that the company will expand presence domestically and also overseas after the deal. However, the financial details of the deal were not disclosed. ASK is among the first portfolio managers in the country and has operations in other pockets of Asia, Middle East, Africa and Europe, it said, adding that the clientele includes India's high-net-worth individuals, family offices and institutions. Blackstone has diversified investments in India pegged at over USD 60 billion, and is among the biggest investors in the commercial real estate space in the country. As per an August 2021 media report, Blacksto

Good Glamm buys stake in beauty and personal care brand Organic Harvest

The companies did not reveal the value of the transaction. Good Glamm will be investing a further Rs 75 crore in growing the brand

Bunge to pick 33% stake in UPL's associate firm Sinagro in Brazil

Global agri-trade firm Bunge will acquire a 33% stake in Brazil-based Sinagro, an associate company of India's leading agrochemical firm UPL Ltd

Sugar Cosmetics' parent company picks up majority stake in ENN Beauty

Deal value not disclosed. With it, ENN Beauty will be able to leverage a digital audience of over 50 mn as it ramps up its retail presence to over 100 outlets by next fiscal

Indiabulls Housing tanks 15% a day after promoter Gehlaut sells 11.9% stake

The stock was down almost 23 per cent from Thursday intraday high; while the stock took place at an average price of Rs 264 per share

Debt-laden IL&FS says it has completed stake sale in Prime Terminals FZC

Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Wednesday said it has completed the sale of its 71.84 per cent stake in IL&FS Prime Terminals FZC to VTTI Terminal I BV. The transaction has resolved the group's outstanding debt to the tune of Rs 757.79 crore, a release said. IL&FS' stake in IL&FS Prime Terminals FZC (IPTF), a state-of-the art energy storage terminal situated in the UAE's Fujairah, was held through IL&FS Maritime Infrastructure Company (IMICL). VTTI has acquired the stake from IMICL and other shareholders, the release said. VTTI will now own 90 per cent of the terminal, while the other 10 per cent will remain with the Fujairah government, the group said. The sale has also enabled release of a corporate guarantee of USD 110 million issued by IMICL for IPTF, it said. Recently, the IL&FS board had announced that the group has resolved over Rs 52,000 crore debt while maintaining its overall debt resolution estimate at Rs 61,000 ...

Aurum PropTech pick up 49% stake in Integrow Asset Management for Rs 25 cr

Aurum PropTech (formerly known as Majesco Ltd) on Sunday said it will pick up 49 per cent stake in Integrow Asset Management for Rs 25 crore. "The Board of Directors of Aurum PropTech Ltd...has approved the acquisition to effectively hold 49 per cent of the fully paid up equity share capital of Integrow Asset Management Pvt Ltd, a tech-led real-estate focused asset management company for an aggregate cash consideration of up to Rs 25 crore," a regulatory filing said. The indicative time period for completion of the acquisition is by March 2022, it added. In a statement, Aurum PropTech said the investment is in line with its strategy to bring digital transformation in the real estate sector by creating an integrated prop-tech ecosystem covering customer digital journey, property and asset management, development, investment and financing of assets. Aurum's investment will comprise of equity shares and optionally convertible debentures issued by Integrow, it added. "This investment

Adani Group buys minority stake in online travel aggregator Cleartrip

The deal is expected to close in November, subject to customary closing conditions

Top ByteDance investor to weigh $500-million stake sale during crackdown

The US investment firm sought to sell the stake at a price that valued ByteDance north of $400 billion, but it was unsuccessful and has since lowered the offer

Bank of America-backed ACRE buys 32% stake in Jayaswal Neco Industries

The ARC is backed by other global distressed funds and investors like Davidson Kem­pner Capital Manageme­nt, Oaktree Capital and Ares SSG

Biocon Biologics to offer 15% stake to Serum Institute Life Sciences

Biocon Biologics, a subsidiary of Biocon, on Thursday said it will offer around 15 per cent stake to Serum Institute Life Sciences at a post-money valuation of about $4.9 billion

Govt to monetise 25 airports over four years, to fetch Rs 20,782 crore

The government holds 26 per cent stake each in Mumbai and Delhi airports and 13 per cent stake in Hyderabad and Bengaluru airports

Govt to sell up to 25% stake in National Seeds Corp; seeks advisors for IPO

Govt is also looking to appoint up to two merchant bankers who would have handled OFS of at least Rs 1,000 crore, and an IPO of Rs 500 crore in the past three years

Delhi-based SB Packagings gets $25 million investment from Premji Invest

Delhi-based SB Packagings on Thursday said Premji Invest has picked up "significant stake" in the company for $25 million

Shrem Group aims to raise Rs 600 cr by diluting stake in InvIT next week

Shrem Group is targeting to raise Rs 600 crore by diluting a 15 per cent stake in its infrastructure investment trust (InvIT) next week, a top official said on Tuesday.

SoftBank sells 45 mn shares in Uber after Didi bet backfires: Report

Uber shares fell 4.6% at $44 in extended trading before erasing most of its losses.

IL&FS floats EOI from investors for selling 100% stake in wind farm project

Infrastructure Leasing and Financial Services (IL&FS) on Tuesday invited expressions of interest (EOI) from eligible investors for its 100 per cent stake in Ramagiri Renewable Energy Ltd (RREL) and purchase of fixed assets of IL&FS Energy Development Company (IEDCL). IL&FS and its group companies collectively hold 95.54 per cent of the total issued, subscribed and paid-up share capital of IEDCL. RREL is a 100 per cent subsidiary of IEDCL. RREL owns a 6.5 MW wind farm project with 26 wind turbines having a capacity of 250 KW each at Ramagiri, district Anantapur, Andhra Pradesh. IEDCL also owns a wind mast, situated at the wind farm site of RREL, and a solar irradiation measurement equipment mounted on the wind mast (together 'Fixed Assets') that are used for gathering meteorological and solar data respectively. Expressions of Interest (EOI) are invited from eligible applicants for - acquisition of the total issued, subscribed and paid-up shares of RREL and purchase of the ..

Govt to sell 8% stake in Hudco via offer for sale; may get Rs 720 crore

Sale would reduce govt's holding in the firm to 81.81% if it exercises greenshoe option, and offloads entire 8% in the PSU

Reliance Retail buys controlling stake in Just Dial for Rs 5.7k crore

Will acquire 25.33% stake via preferential allotment at Rs 1,022.25 a share, another 15.62% from Just Dial founder V S S Mani. It will later make an open offer for 26% as per Sebi rules

KKR completes stake buy in FOGG brand owner Vini Cosmetics for Rs 4,600 cr

Global investment firm KKR on Thursday said it has completed the Rs 4,600-crore deal to buy a majority stake in deodorant maker Vini Cosmetics.