Private equity deals in India triple
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Private equity investment in India tripled last year, and is on course to top $10bn in 2007 as the sector’s elite, such as Carlyle and KKR, home in on the region. The Times reports that buyout firms spent a total of $7.47bn acquiring Indian companies or stakes in companies in 2006, according to a study by Venture Intelligence which tracks private equity activity in the country.
Volumes last year were bolstered by two deals: KKR’s $765m agreement to take Flextronics private and Idea Cellular’s sale of a stake to a consortium of private equity firms for $966m.
Blackstone last year opened an office in India and raised $1bn to spend there, while Carlyle has two funds concentrated on the country.
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