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US India transactions & investment monitor - october 2010
 

US India transactions & investment monitor - october 2010

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Following a strong momentum of India--US cross border transactions last month, September witnessed eight US bound and six India bound transactions. The rising trend of US bound investments by Indian ...

Following a strong momentum of India--US cross border transactions last month, September witnessed eight US bound and six India bound transactions. The rising trend of US bound investments by Indian companies was evident this month, especially in areas of Industrial commodities, Utilities, Information Technology and Healthcare.
The key transaction(by size) this month were KEC international acquisition of SAE Towers Holding for $ 95 million in cash and Biologics capital raise of $ 80 million through equity shares.
India bound transactions by US companies were led by private placement in IT, Healthcare and Utilities sectors with M&A taking a back seat. Micromax Informatics Limited received $43 million funding from new investors Sandstone Capital Sequoia Capital, and Madison Capital Management. Svasti Microfinance Pvt. Ltd raised its first round of equity funding from The Michael and Susan Dell Foundation, Endowment Arm and several high net worth individuals.
With respect to US bound acquisition by Indian companies there were six M&A and two private placements. Core Projects & Technologies Limited acquired Technical Systems Integrators and Keenan and Keenan Group for approximately $20 million. Core Projects funded the acquisitions from the proceeds of its earlier foreign currency convertible bonds issue. Similarly IFGL Refractories Ltd. acquired CUSC International Ltd and El Ceramics LLC for $13 million. The acquisition has largely been funded, to the extent of $10 million, with five-year loans from HDFC Bank and the balance from IFGL.

Welcome to the October 2010 edition of our US-India newsletter, which focuses on key developments and issues affecting foreign direct investments (FDI) and foreign institutional investments (FII) between the US and India. For more information, please visit www.ivgpartners.com

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    US India transactions & investment monitor - october 2010 US India transactions & investment monitor - october 2010 Document Transcript

    • October 2010 IMaCS Virtus Global Partners Newsletter Transaction & Investment Flow between US and India Recent Reports and Following a strong momentum of India--US cross border transactions last month, September witnessed eight US bound and six India bound News transactions. The rising trend of US bound investments by Indian companies was evident this month, especially in areas of Industrial Recent Reports commodities, Utilities, Information Technology and Healthcare. The key transaction(by size) this month were KEC international acquisition Negotiating IT Deals with of SAE Towers Holding for $ 95 million in cash and Biologics capital raise American Companies of $ 80 million through equity shares. India bound transactions by US companies were led by private placement Indian Pollution Control in IT, Healthcare and Utilities sectors with M&A taking a back seat. Industry Micromax Informatics Limited received $43 million funding from new investors Sandstone Capital Sequoia Capital, and Madison Capital Industry Trends & News Management. Svasti Microfinance Pvt. Ltd raised its first round of equity funding from The Michael and Susan Dell Foundation, Endowment Arm and several high net worth individuals. Banking - CRISIL, Tata Steel, Electrotherm With respect to US bound acquisition by Indian companies there were six M&A and two private placements. Core Projects & Technologies Limited acquired Technical Systems Integrators and Keenan and Keenan Group for Technology - Core Projects, approximately $20 million. Core Projects funded the acquisitions from the Honeywell, Symphony proceeds of its earlier foreign currency convertible bonds issue. Similarly IFGL Refractories Ltd. acquired CUSC International Ltd and El Ceramics LLC Hughes,IFGL,KEC,EMC,GE,Coca for $13 million. The acquisition has largely been funded, to the extent of -Cola,GM $10 million, with five-year loans from HDFC Bank and the balance from IFGL. AES,Reliance Industries Welcome to the October 2010 edition of our US-India newsletter, which Biocon,Shasun,Teleradiology focuses on key developments and issues affecting foreign direct Solutions,Suven investments (FDI) and foreign institutional investments (FII) between the Lifesciences,Sun Pharma, US and India. For more information, please visit www.ivgpartners.com Taro,Ranbaxy,Guthy-Renker Recent Reports About IVG Partners Negotiating IT Deals with American Companies - A Guest IMaCS Virtus Global Partners Column by Mark Grossman and Tate Stickles, The (IVG Partners), a joint venture Grossman Law Group between ICRA Management Consulting Services and Virtus The information technology ("IT") industry has some rather Global Partners, offers firmly established deal norms that apply worldwide. Knowing transaction advisory to North the norms allows you to effectively focus on the areas where American and Indian companies you can have impact while choreographing your concessions around areas seeking cross border growth where you're not likely to win the battle anyway. This article is a primer on and investment opportunities. understanding what are workable and fair agreements when contracting For more information, please with American companies. visit www.ivgpartners.com
    • Indian Pollution Control Industry - Opportunities for US Companies India is one of the largest and one of the fastest growing producers of greenhouse gases. It is estimated that 30-40 percent of India's industrial units produce sizeable quantities of pollutants. India's pollution control equipment industry is growing at 10-12 % annually, driven by government initiatives and a proactive judiciary. Local production is mainly into standard, low-tech equipment. The United States is the market leader for imports, having over 30% of market share. Industry Trends & News Banking & Finance Crisil to acquire Chicago-based KPO for $12.75 mn Tata Steel To Invest Rs 1,350Cr In Canadian JV Technology & Telecom Honeywell India to expand partnerships with local industry Vertex, Shell Transource in tie-up to tap Indian BPO market Core Projects acquires 2 US-based education firms GE to expand India R&D arm Microsoft launches Halo Reach in India Symphony Service Corp Acquires CoreObjects Industrial Commodities & Manufacturing Hughes sets up satellite hub in Hyderabad IFGL Refractories buys 2 US cos for $ 13mn KEC Intl buys US-based SAE Towers for $95 mn EMC Corp unveils second global command centre in India GE to setup manufacturing unit in India Coca-Cola to Build New India Plant GM to open engine plant at Talegaon Energy US power major, AES Corporation to invest in Bihar RIL completes Marcellus Shale deal Life Sciences Shasun's JV with US's Nanoparticle Biochem for $2-3
    • mn Guthy-Renker hopes to garner $13-15 m from India Biocon inks pact with Teleradiology Solutions Suven Life Sciences gets 2 new US patents Sun completes Taro acquisition Ranbaxy gets US nod to sell Alzheimer's generic Defence & Aerospace Honeywell India to expand partnerships with local industry Jet Airways, IBM ink 10-year IT deal for $62 mln India, US may sign $3.5 billion defence deal Mahindra Signs Boeing Deal IMaCS Virtus Global Partners 501 Fifth Ave, Suite 302 New York, NY 10017 (646) 807-9290 www.ivgpartners.com