Brookfield Asset Management Inc has entered exclusive talks on a takeover of Bharti Infratel Ltd, India’s largest listed wireless tower owner, after submitting a bid valuing the company at about $11 billion, people with knowledge of the matter said. Canada’s largest alternative asset manager offered to buy a majority stake in Bharti Infratel for around… Read More »
National Association of Software and Services Companies (NASSCOM) today announced plans to set up an office in Bhubaneswar to boost IT and ITeS in eastern India. The NASSCOM also reiterated its commitment to explore further opportunities to partner with the state government. The announcements were made at the end of the NASSCOMs three-day leadership meet… Read More »
Uber is turning India into a regional hub of sorts, as the cab aggregator expands to other South Asian countries. After launching in Sri Lanka late last year, Uber started operations in Dhaka, Bangladesh, in mid-November. As it continues to scout for more markets, the expansion and the operations are being driven out of the… Read More »
India is home to the third largest number of technology driven startups in the world, according to a study conducted by ASSOCHAM in association with Thought Arbitrage Research Institute. But with such a boom comes an increased demand for work space. And if you’re just setting up shop, chances are you wouldn’t want to splurge… Read More »
Amidst demonetisation driving significant demand contraction in consumer discretionary sectors, public sector contracting can be a ‘safe haven’. Subsequent push on infra spending, subject to ability to spend, can be a positive as well. For Larsen & Toubro, the impact is limited to temporary disruption in near term and slower execution of real estate contracts. We… Read More »
Taking its diversification strategy further, Piramal Group’s financial services arm Piramal Fund Management has expanded its portfolio to offer flexi lease rental discounting (LRD). Through these transactions, the fund will discount future cash flows of completed and leased commercial assets including office blocks and retail malls, said a top company official. The fund has already… Read More »
The consolidation among ecommerce players in India has seen companies rationalising or scrimping on large office space in cities practically halving their commercial real estate transactions. The share of the ecommerce sector has fallen by almost half in the first half of this year as compared to the same period last year. According to real estate… Read More »
Private equity group Blackstone; a consortium of sovereign funds of Abu Dhabi, Qatar together with Kotak Realty Fund; and GIC of Singapore are the final three shortlisted candidates in race to pick up the entire 40% stake held by DLF promoters in the office rental arm -DLF Cyber City Developers Limited (DCCDL). The three have submitted… Read More »
Brookfield Asset Management Inc. raised $14 billion for its latest infrastructure fund, topping its target, as Canada’s largest alternative asset manager goes on the prowl for larger acquisitions. The pool, known as Brookfield Infrastructure Fund III, will be the largest private infrastructure fund ever raised in the industry, according to a statement from Brookfield, and data… Read More »
Property developer Century Real Estate has got about Rs 520 crore in a mix of structured debt and construction finance from Piramal Fund Management, the real estate investment arm of Ajay Piramal Group, according to sources familiar with the matter. This is the second fund raise by the company from Piramal, in less than a year.… Read More »
