Reliance is good at finding oil, refining it and making petrochemicals. But it hasn''t succeeded in the marketing business at home. So its decided to go overseas to sell oil by buying out Mauritius headquartered Gulf African Petroleum Corp - GAPCO.
The GAPCO acquisition will give RIL access to the African market and it might be an outlet to sell oil from the new refinery coming up at Jamnagar.
RIL''s export-oriented refinery will start producing by December 2008. It will produce 7,00,000 barrels of fuels every day. It''s GAPCO acquisition makes sense because the company has a distribution network in Tanzania, Uganda, Kenya. Besides, it also operates large storage terminals in Dar Es Salaam and has over 250 outlets in retail and industrial markets. GAPCO could also add synergies to RIL''s value chain. The African countries are risky but there are signs that the economies are growing fast and growth could continue. Besides, RIL will get access to overseas markets at valuations that are attractive.
Wednesday, September 5, 2007
FII Activity On 04-09-2007
The gross equity purchased was Rs.2,514.70 (in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs1,987.10 (in crores), and the gross debt sold was Rs109 (in crores). The net investment of equity was Rs527.60 (in crores) and the net debt investment was -Rs109 (in crores).
Tuesday, September 4, 2007
Paramount Communications Acquires UK Based AEI Cables
Paramount Communications Ltd has announced on September 03, 2007, the acquisition of the business of AEI Cables in an all cash deal. AEI Cables has a turnover of approximately GBP 65 million (INR 533 crores).
Elara Capital Plc, a London- based mid-market advisor, was the sole corporate finance adviser to the Company for this transaction. This is Elara Capital''s first cross border transaction involving two listed companies.
Acquisition Synergies
The Company has a strong presence in India and is the key cable player in all infrastructure sectors including power, railways, telecom and industrial projects. AEI Cables is a leading manufacturer of cables solutions to global markets and is a wholly owned subsidiary of the international electronic sensors and components group TT Electronics plc, listed on The London Stock Exchange. Cables are manufactured at the AEI Cables state - of - the - art production facility at Birtley, near Newcastle upon Tyne in the North East of England. Cables supplied to the defence, rail, power and mining sectors are specialist cables manufactured with the proprietary know how of AEI, developed over the last few decades. Also, AEI has world class cutting edge research and development facilities which positions AEI to meet the ever changing demands of customers for these specialist cables.
The acquisition of AEI Cables by the Company will:
a) Make the Company the largest listed Indian company in the cable industry with an annual turnover of over INR 1,100 crores.
b) Significantly strengthen its product range for infrastructure segments such as Railways, Mining & Power and Defense in India and the UK.
c) Enable faster expansion in International Markets such as Far East, Middle East and Africa, where the AEI brand is well established.
d) Access to cuffing edge technical know bow to continue developing new range of products to keep its competitive edge in India and internationally.
Elara Capital Plc, a London- based mid-market advisor, was the sole corporate finance adviser to the Company for this transaction. This is Elara Capital''s first cross border transaction involving two listed companies.
Acquisition Synergies
The Company has a strong presence in India and is the key cable player in all infrastructure sectors including power, railways, telecom and industrial projects. AEI Cables is a leading manufacturer of cables solutions to global markets and is a wholly owned subsidiary of the international electronic sensors and components group TT Electronics plc, listed on The London Stock Exchange. Cables are manufactured at the AEI Cables state - of - the - art production facility at Birtley, near Newcastle upon Tyne in the North East of England. Cables supplied to the defence, rail, power and mining sectors are specialist cables manufactured with the proprietary know how of AEI, developed over the last few decades. Also, AEI has world class cutting edge research and development facilities which positions AEI to meet the ever changing demands of customers for these specialist cables.
The acquisition of AEI Cables by the Company will:
a) Make the Company the largest listed Indian company in the cable industry with an annual turnover of over INR 1,100 crores.
b) Significantly strengthen its product range for infrastructure segments such as Railways, Mining & Power and Defense in India and the UK.
c) Enable faster expansion in International Markets such as Far East, Middle East and Africa, where the AEI brand is well established.
d) Access to cuffing edge technical know bow to continue developing new range of products to keep its competitive edge in India and internationally.
FII Activity On 03-09-2007
The gross equity purchased was Rs.3,019.50 (in crores), and the gross debt purchased was Rs19.40 (in crores). The gross equity sold was Rs2,342.20 (in crores), and the gross debt sold was Rs58 (in crores). The net investment of equity was Rs677.30 (in crores) and the net debt investment was -Rs38.60 (in crores).
Monday, September 3, 2007
Stratify Software Mulls To Infuse $10Mn In India
Bangalore: Stratify Software, formerly known as PurpleYogi, plans to infuse $10 million in the next two years on its expansion in India. This US-based company, led by Indians, also plans to take over a suitable legal process outsourcing (LPO) firm. From the early Internet days and the high-brand-recall, PurpleYogi to the sober and profitable Stratify, the company has transformed in more ways than one.
They have now chosen to aim corporates and primarily the legal sector. While underlying technology electronic discovery is the same, its applications have changed. E-discovery was a $1.9 billion market in 2006 and is projected to grow to $4.07 billion in 2009, according to a Socha-Gelbmann report. Version 8.0 of Stratify''s Legal Discovery a knowledge management tool tailored for the legal industry will be out soon. It uses statistical analysis to find patterns of words (compatible with major languages) and then organises PDFs, documents, mails, and 400 formats in which data is stored, to make it easier for attorneys and reviewers to act on information.
They have now chosen to aim corporates and primarily the legal sector. While underlying technology electronic discovery is the same, its applications have changed. E-discovery was a $1.9 billion market in 2006 and is projected to grow to $4.07 billion in 2009, according to a Socha-Gelbmann report. Version 8.0 of Stratify''s Legal Discovery a knowledge management tool tailored for the legal industry will be out soon. It uses statistical analysis to find patterns of words (compatible with major languages) and then organises PDFs, documents, mails, and 400 formats in which data is stored, to make it easier for attorneys and reviewers to act on information.
Ixia Mulls To Invest Rs 4.5Cr In Bangalore
Bangalore: Business is now transferring from California to India for Ixia, a $165-million firm that tests networks before a launch. Expansion plans are afoot, with a Rs 4.5-crore investment in a new facility in Bangalore. A total of 150 staff at Kolkata and Bangalore work on sales, research, training and customer support. The team in India is specialised in performance and functional testing of high performance IP communication devices and networks. With the launches of triple play, expansion in telecom and broadband networks in the sub-continent, Ixia is witnessing increasing demand for its product a device that emulates subscribers of a network, their usage patterns and performance of the network. The Optixia series is used by network equipment firms such as Nortel, Juniper, Internet service providers, carriers (operators) and even research and development labs. The company is looking at taking over firms with turnover in the range of $20 million to $80 million. They are eyeing at both multinationals and Indian firms. Firms that have capabilities in wireless-to-IP data transmission will be valuable.
FII Activity On 31-08-2007
The gross equity purchased was Rs.4,125.70 (in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs4,790.10 (in crores), and the gross debt sold was Rs263.90 (in crores). The net investment of equity was -Rs664.40 (in crores) and the net debt investment was -Rs263.90 (in crores).
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