Bharati Shipyard, the country’s second-largest private sector ship-builder, is understood to have acquired the UK-based Swan Hunter Shipyard for an undisclosed amount.The acquisition might be one of the biggest deals till date in the domestic shipbuilding industry. A comparable new shipyard would have cost Rs 200-250 crore.
A spokesperson for Bharati Shipyard declined to comment, saying, “As a company policy we do not react on market speculation.”
This acquisition assumes significance given the fact that all international shipyards are overbooked till 2009-end as the general economic upswing has resulted in a demand for new ships.Moreover, the International Maritime Organisation has brought in a number of regulations leading to scrapping of old vessels. This has also fuelled demand.
Read more in The Business Standard article.
Showing posts with label Acquisitions. Show all posts
Showing posts with label Acquisitions. Show all posts
Tuesday, April 10, 2007
Wednesday, April 4, 2007
Global acquires Chennai hospital for Rs 257 crore
The Hyderabad-based Global Hospitals, part of Ravindranath GE Medical Associates, has acquired Sri Kanchi Kamakoti Sankara Hospital (formerly Tamilnad Hospital) in an all-cash deal, for Rs 257 crore to be paid in tranches.
The Madras High Court on Monday permitted Sri Kanchi Kamakoti to encash the earnest money deposit of Global Hospitals and complete the sale of the property. The Chennai-based Sankara Hospital, abutting the Old Mahabalipuram road, is spread over 46 acres and has 450 beds.
In July 2006, a division bench of the Madras High Court had permitted the Sri Kanchi Kamakoti Peetam Charitable Trust to sell the Sankara Hospital. The trust, in its application to sell the hospital, said it could not run it and had become heavily indebted.
Subsequently, corporates and healthcare majors, including the Murugappa group, Satya Sai Hospitals of Chennai, Bangalore-based Shriram Properties, Kolkata-based Advanced Medical and Research Institute and Global Hospitals bid for the property. Global emerged winner by quoting Rs 257 crore and assuring that it would run the existing hospital, retain the employees and provide 50 free beds.
Read more in The Business Standard article.
The Madras High Court on Monday permitted Sri Kanchi Kamakoti to encash the earnest money deposit of Global Hospitals and complete the sale of the property. The Chennai-based Sankara Hospital, abutting the Old Mahabalipuram road, is spread over 46 acres and has 450 beds.
In July 2006, a division bench of the Madras High Court had permitted the Sri Kanchi Kamakoti Peetam Charitable Trust to sell the Sankara Hospital. The trust, in its application to sell the hospital, said it could not run it and had become heavily indebted.
Subsequently, corporates and healthcare majors, including the Murugappa group, Satya Sai Hospitals of Chennai, Bangalore-based Shriram Properties, Kolkata-based Advanced Medical and Research Institute and Global Hospitals bid for the property. Global emerged winner by quoting Rs 257 crore and assuring that it would run the existing hospital, retain the employees and provide 50 free beds.
Read more in The Business Standard article.
Indian Hotels to acquire US hotel for Rs 264 c
After buying the Ritz Carlton in Boston, Indian Hotels Company (IHCL), owners of the Taj group of hotels, have done it again.
The country's largest hotel chain is now acquiring Hotel Campton Place in San Francisco. The acquisition cost, pegged at $60 million (Rs 264 crore), will be completed in partnership with a clutch of financial investors, IHCL said on Tuesday.
Hotel Campton Place is a 110-room luxury boutique hotel situated at Union Square in the heart of San Francisco. The acquisition is routed through IHCL's wholly-owned subsidiary in US.
The sale-purchase agreement was signed on Monday and the transaction is scheduled to close on April 30. The Campton Place is the Taj group's first acquisition on the West Coast of US.
Two other properties that it owns are located on the East Coast of US. Last year, it purchased Ritz-Carlton Boston (renamed as Taj Boston) for $170 million.
In 2005, Taj Hotels entered into a 30-year management contract agreement to operate and manage the Pierre on New York's Fifth Avenue. The lease price was $5 million a year.
The country's largest hotel chain is now acquiring Hotel Campton Place in San Francisco. The acquisition cost, pegged at $60 million (Rs 264 crore), will be completed in partnership with a clutch of financial investors, IHCL said on Tuesday.
Hotel Campton Place is a 110-room luxury boutique hotel situated at Union Square in the heart of San Francisco. The acquisition is routed through IHCL's wholly-owned subsidiary in US.
The sale-purchase agreement was signed on Monday and the transaction is scheduled to close on April 30. The Campton Place is the Taj group's first acquisition on the West Coast of US.
Two other properties that it owns are located on the East Coast of US. Last year, it purchased Ritz-Carlton Boston (renamed as Taj Boston) for $170 million.
In 2005, Taj Hotels entered into a 30-year management contract agreement to operate and manage the Pierre on New York's Fifth Avenue. The lease price was $5 million a year.
Wednesday, March 14, 2007
Havell's buys SLI Sylvania for $300mn
Havell's Netherlands BV, a Netherlands incorporated subsidiary of Havell's India, has signed an agreement with SLI Holdings Inc to acquire its lighting systems business SLI Sylvania for an aggregate price of euro 227.5 million (approx. $300 million).
According to a release issued by Havell's to the BSE today, the acquisition is expected to be financed with non-recourse debt facilities of $160 million and recourse facilities of $105 million.
Read more in Business-Standard article.
According to a release issued by Havell's to the BSE today, the acquisition is expected to be financed with non-recourse debt facilities of $160 million and recourse facilities of $105 million.
Read more in Business-Standard article.
Tuesday, February 27, 2007
Holcim to up control in ACC, Guj Ambuja
In a move aimed at consolidating its Indian operations, Swiss cement major Holcim will increase its control in ACC and Gujarat Ambuja Cements for close to Rs 2,700 crore.
Holcim is in talks to buy Gujarat Ambuja Cements’ 33 per cent stake in Ambuja Cement India Ltd (ACIL) that, in turn, holds 35 per cent in ACC and 9.93 per cent in Gujarat Ambuja Cements. At present, Holcim owns 67 per cent in ACIL.
This will make ACIL a wholly-owned Holcim subsidiary.
Read more in The Business Standard Article.
Holcim is in talks to buy Gujarat Ambuja Cements’ 33 per cent stake in Ambuja Cement India Ltd (ACIL) that, in turn, holds 35 per cent in ACC and 9.93 per cent in Gujarat Ambuja Cements. At present, Holcim owns 67 per cent in ACIL.
This will make ACIL a wholly-owned Holcim subsidiary.
Read more in The Business Standard Article.
Subscribe to:
Posts (Atom)
