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NIIF to Acquire a Majority Stake in Non-bank Lender IDFC

1Nov By Gauri SinghNo Comments

ACQUISITION

NIIF to Acquire a Majority Stake in Non-bank Lender IDFC

India’s National Investment and Infrastructure Fund (NIIF) has agreed to acquire a majority stake in non-bank lender IDFC Ltd's infrastructure fund business in its first control transaction. The acquisition of the stake in IDFC Infrastructure Finance Ltd (IDFC-IFL), a non-banking company which manages a debt fund, will enable NIIF to provide private debt funding to infrastructure projects, according to a press statement on Wednesday. “This investment demonstrates the ability of NIIF to make commercially attractive counter-cyclical investments, since it comes at a time when the non-banking finance sector is facing some temporary headwinds," said Sujoy Bose, managing director and CEO at NIIF. This acquisition is the first investment from NIIF’s Strategic Fund and the first control trans...

Mumbai-based Engine Maker to Acquire Majority Stake in Ampere Vehicles

One of the most diversified Indian engineering company Greaves Cotton Ltd is reportedly acquiring a majority stake in electric two-wheeler manufacturer Ampere Vehicles. Following the deal, Greaves Cotton which is based in Mumbai will be acquiring 67% of Ratan Tata-backed Ampere for Rs 77 crore. Furthermore, according to company’s statements, Greaves may also buy out another 13% of the Coimbatore-based company for Rs 75.5 crore after three years. The first part of the deal is expected to be closed by the end of December, subject to customary closing conditions. This deal will value the ten year old electric maker Ampere at Rs 115 crore. With this acquisition, Greaves is planning to boost up its product and technology development process especially for last mile mobility in the ele...

Walmart Sells 80% Stake in its Brazilian Business

The American Multinational Retail Corporation Walmart Inc. has announced to sell the majority of its stake that is 80% stake in its Brazilian business operations to a private equity company Advent International Corp. decreasing its existence in countries where it is battling and struggling for profitability. Walmart is a US-based retail company which is the world’s largest firm in terms of revenue generation. The company is now on the tracks of exploring and expanding overseas by selling assets in lower-growth markets and investing in high-profit opportunities like India and China. Walmart expects to keep a 20% stake but, the terms and financial details of the deal have not been revealed as of now. The retail company, however, has expressed an expectation of recording a non-cash net ...