The gross equity purchased was Rs.2,677.20 (in crores), and the gross debt purchased was Rs1,012 (in crores). The gross equity sold was Rs2,869.30 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was -Rs192.10 (in crores) and the net debt investment was Rs1,012 (in crores).
Source : www.indian-commodity.com
Friday, August 31, 2007
Apollo Hospitals Acquires Zavata
Apollo Hospitals has acquired Atlanta based Medical BPO Zavata for $180 million. Zavata has strong operating margins of about 20 per cent and has over a thousand process certified staff. Its clients include the New York University''s Health Department. Apollo Hospitals says that it is looking for more such acquisitions in the US. The acquisition buzz had already been factored into the Apollo Hospitals stock, which is why it fell after the news came out. However, analysts say that the buyout gives a lot of upside to the stock as it gives Apollo Hospitals access to the $700 billion US hospital industry.
Apollo Hospitals stock price however didn''t capture much excitement about this deal and has been trading range bound since a month now. Perhaps, with the passage of time after seeing the impact of this deal on its financials, it helps to bring some cheer to its shareholders.
Source : www.indian-commodity.com
Apollo Hospitals stock price however didn''t capture much excitement about this deal and has been trading range bound since a month now. Perhaps, with the passage of time after seeing the impact of this deal on its financials, it helps to bring some cheer to its shareholders.
Source : www.indian-commodity.com
Bombay Dyeing Likely To Acquire Danone
Mumbai: The Wadias of Bombay Dyeing are prepared to purchase the entire stake of partner Groupe Danone in biscuit maker Britannia at a discount. The contours of the deal are likely to be drawn up at a meeting on September 3. That is also the time when Danone Chairman Franck Riboud is hoped to be in India. French dairy foods giant''s exit will be in line with that of other multinational companies from joint ventures in India and the discount in this case could be as much as 20 per cent to the market price.
Danone is keen on operating on its own in India and needs a no-objection from the Wadias to be able to do so. The Wadias and Danone hold 50 per cent equity each in Associated Biscuits International (ABIL), which holds 51 per cent equity in Britannia, giving each partner control over 25.1 per cent equity of the joint venture. The two partners started bickering last year over control of the Tiger brand, which Danone had reportedly taken to other countries without taking the Wadias into confidence. At the September 3 meeting, the two partners are also likely to discuss the thorny issues of intellectual property, Groupe Danone''s acquisition of a stake in Bangalore-based nutritional foods company Avesthagen and the no-objection certificate that Danone needs to go solo.
Source : www.indian-commodity.com
Danone is keen on operating on its own in India and needs a no-objection from the Wadias to be able to do so. The Wadias and Danone hold 50 per cent equity each in Associated Biscuits International (ABIL), which holds 51 per cent equity in Britannia, giving each partner control over 25.1 per cent equity of the joint venture. The two partners started bickering last year over control of the Tiger brand, which Danone had reportedly taken to other countries without taking the Wadias into confidence. At the September 3 meeting, the two partners are also likely to discuss the thorny issues of intellectual property, Groupe Danone''s acquisition of a stake in Bangalore-based nutritional foods company Avesthagen and the no-objection certificate that Danone needs to go solo.
Source : www.indian-commodity.com
HDFC Mops Up $800Mn Via Real Estate Fund
Mumbai: Housing Development Finance Corporation said it has closed its first sponsored real estate fund, mopping up $800 million (Rs 3,280 crore). The HIREF International LLC fund was initially intended to mop up $50 million, but HDFC eventually mopped up $800 million despite the current tight market situation. The nine-year close-ended fund was privately placed, raising money from 28 different international investors. The objective of the fund is to invest in FDI-compliant real estate projects in India to achieve long-term capital appreciation. The fund will have a conservative approach with no regional or sector bias and would invest in residential, commercial, hospitality, education, healthcare sectors and at developers entity level. HDFC''s 30-year relationship with over 350 big developers India-wide stood it in good stead in a wary market, helping it closes the fund.
Source : www.indian-commodity.com
Source : www.indian-commodity.com
Thursday, August 30, 2007
FII Activity On 29-08-2007
The gross equity purchased was Rs.2,561.50 (in crores), and the gross debt purchased was Rs633.90 (in crores). The gross equity sold was Rs2,196 (in crores), and the gross debt sold was Rs293.90 (in crores). The net investment of equity was Rs365.50 (in crores) and the net debt investment was Rs340 (in crores).
Source : www.indian-commodity.com
Source : www.indian-commodity.com
3i Infotech - Acquisition Of HCCA Business Services
3i Infotech Ltd has informed that the Company has acquired 51% stake in BPO services provider HCCA Business Services Pvt Ltd (HCCA). The Company has been acquired for its delivery capabilities in HR operations including large scale payroll processing for clients in the BFSI sector. Clients of HCCA include several leading domestic and multinational banks, insurance Companies, investment banks, brokerage houses etc.
Source : www.indian-commodity.com
Source : www.indian-commodity.com
Firstsource Acquires MedAssist Holding, Inc
Firstsource Solutions Ltd has informed that the Company has entered into an agreement to acquire MedAssist Holding, Inc., a leading provider of revenue cycle management in the healthcare industry in the US. The acquisition is valued at US $330 million and is subject to the regulatory approval under the US HSR Act (Hart - Scott - Rodino Anti Trust Improvements Act of 1976).
In this regard the Company has issued the following Press Release:
Firstsource Solutions Ltd on August 29, 2007 has announced that it has entered into an agreement to acquire MedAssist Holding, Inc., a leading provider of revenue cycle management in the healthcare industry in the U.S. The acquisition is valued at US $330 million and is subject to the regulatory approval under the US HSR statute.
MedAssist, headquartered in Louisville, Kentucky has 1,400 employees and is a pan-American provider of revenue cycle management services to the healthcare industry. This includes Eligibility Services, Receivables Management Services and Post-default Collections services for healthcare providers. The Company has over 1,000 clients including hospitals, large physician groups and alternate site providers. MedAssist''s revenue for year ended December 31, 2006 was US $99 million.
The MedAssist acquisition presents significant synergies for Firstsource. Firstsource, which already has a strong presence in the US healthcare BPO space on the payor side (insurance Company end) will now also enter the provider side (hospitals end) of healthcare BPO services. Currently, hospital care in the US amounts to approx. US $700 billion and administrative costs are estimated to be 14%, or US $100 billion, which is a huge opportunity.
Source : www.indian-commodity.com
In this regard the Company has issued the following Press Release:
Firstsource Solutions Ltd on August 29, 2007 has announced that it has entered into an agreement to acquire MedAssist Holding, Inc., a leading provider of revenue cycle management in the healthcare industry in the U.S. The acquisition is valued at US $330 million and is subject to the regulatory approval under the US HSR statute.
MedAssist, headquartered in Louisville, Kentucky has 1,400 employees and is a pan-American provider of revenue cycle management services to the healthcare industry. This includes Eligibility Services, Receivables Management Services and Post-default Collections services for healthcare providers. The Company has over 1,000 clients including hospitals, large physician groups and alternate site providers. MedAssist''s revenue for year ended December 31, 2006 was US $99 million.
The MedAssist acquisition presents significant synergies for Firstsource. Firstsource, which already has a strong presence in the US healthcare BPO space on the payor side (insurance Company end) will now also enter the provider side (hospitals end) of healthcare BPO services. Currently, hospital care in the US amounts to approx. US $700 billion and administrative costs are estimated to be 14%, or US $100 billion, which is a huge opportunity.
Source : www.indian-commodity.com
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