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GIC-backed Amber Group acquires majority stake in Ascent Circuits

VCCircle

VCCircle · 1y ago

GIC-backed Amber Group acquires majority stake in Ascent Circuits

Amber Enterprises' Iljin Electronics has acquired a 60% stake in Ascent Circuits, a PCB manufacturer. The financial terms of the deal were not disclosed. Ascent Circuits, based in southern India, produces PCBs for various industries including aerospace, defense, medical, telecom, and automotive. The acquisition will enable Amber to expand its electronics portfolio and enhance its R&D and PCB assembly manufacturing capabilities. Amber Enterprises is a diversified manufacturing company operating in the consumer durables, electronics, and railway subsystems sectors. It received a ₹113 crore ($13.7 million) investment from Singapore's sovereign wealth fund, GIC, last year.

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TPG’s India healthcare platform goes for internal rejig as GIC buying majority stake

VCCircle

VCCircle · 6m ago

TPG’s India healthcare platform goes for internal rejig as GIC buying majority stake

Asia Healthcare Holdings (AHH), a healthcare platform backed by TPG and GIC, is undergoing an internal reorganization. GIC, the Singaporean sovereign wealth fund, is in the process of acquiring a majority stake in the company. AHH consists of three single-speciality healthcare chains: Motherhood, Nova IVF, and another specialized facility. The restructuring aligns with GIC's investment, aiming to enhance operational efficiency and expand AHH's presence in the healthcare sector.

GIC acquires majority stake in Asia Healthcare Holdings with $150 million investment

Livemint

Livemint · 8m ago

GIC acquires majority stake in Asia Healthcare Holdings with $150 million investment

Singapore sovereign fund GIC is set to invest an additional $150 million in Asia Healthcare Holdings (AHH), making it the largest shareholder. This follows GIC's initial investment of $170 million in the healthcare platform earlier this year. The investment values AHH at around $800-900 million. With this transaction, private equity company TPG will become a minority stakeholder and GIC will hold the majority stake in AHH. The platform, which owns Motherhood Hospitals, Asian Institute of Nephrology and Urology, and Nova IVF, focuses on single specialty hospitals and plans to expand its offerings in the future.

General Atlantic-controlled KFin Technologies to buy Singapore’s Ascent Fund Services

VCCircle

VCCircle · 4m ago

General Atlantic-controlled KFin Technologies to buy Singapore’s Ascent Fund Services

KFin Technologies, backed by General Atlantic, plans to acquire Singapore-based Ascent Fund Services. Initially, KFin will purchase a 51% stake for $34.7 million, followed by the remaining stake over five years. A $5 million primary capital infusion and a $29.7 million secondary purchase reflect an enterprise value of $63 million. This acquisition extends KFin’s reach into global fund administration, offering services across multiple jurisdictions, with Ascent managing $24 billion in assets for diverse clients globally.

Adani acquires 50.5% stake in IANS, making presence stronger in media sector

Livemint

Livemint · 1y ago

Adani acquires 50.5% stake in IANS, making presence stronger in media sector

Adani Group has acquired a 50.5% stake in news agency IANS India Pvt Ltd, further expanding its presence in the media sector. Adani Enterprises, the holding company's media arm, disclosed in a regulatory filing that its subsidiary AMG Media Networks Ltd purchased the stake. This move follows Adani's previous acquisitions of Quintillion Business Media and a majority stake in broadcaster NDTV. Adani Group aims to invest ₹7 trillion ($84 billion) in infrastructure over the next decade.

Exclusive: Dubai group in talks with sovereign, PE funds to lead in race for Theobroma

VCCircle

VCCircle · 10m ago

Exclusive: Dubai group in talks with sovereign, PE funds to lead in race for Theobroma

A Dubai-based consumer group is in talks with sovereign and private equity funds to secure a majority stake in bakery chain Theobroma Foods. The bakery, founded in 2004, is backed by ICICI Venture and has garnered considerable interest from investors. The group is seeking support from multiple investors to lead the race in acquiring the stake.

Carlyle, Avendus, Mizuho, Allianz Global, Varde Partners in news

VCCircle

VCCircle · 4m ago

Carlyle, Avendus, Mizuho, Allianz Global, Varde Partners in news

Private equity firm Carlyle has resumed talks to acquire a majority stake in Avendus Capital, an investment banking firm backed by KKR. This discussion follows the halt of negotiations between Avendus and Mizuho Financial Group of Japan.

CVC Capital-controlled Healthcare Global acquires cancer hospital

VCCircle

VCCircle · 1y ago

CVC Capital-controlled Healthcare Global acquires cancer hospital

CVC Capital-backed healthcare player, Healthcare Global Enterprises Ltd, has acquired a majority stake in Vizag Hospital, including Mahatma Gandhi Cancer Hospital and Research Institute, for an enterprise value of around $50 million. The acquisition will initially give Healthcare Global a 51% stake, followed by an additional 34% over the next 18 months. The hospital, which has 196 beds, offers a range of cancer treatments and has served over 1.5 lakh patients. The deal will enable Healthcare Global to strengthen its market position and unlock capacities.

International Chemical Investors Group acquires majority stake in Hyderabad firm

VCCircle

VCCircle · 1y ago

International Chemical Investors Group acquires majority stake in Hyderabad firm

Private industrial group International Chemical Investors Group (ICIG) has acquired a majority stake in Vasant Chemicals, a Hyderabad-based manufacturer of specialty chemicals and pharmaceutical intermediates. The acquisition is part of ICIG's strategy to expand its presence in the global specialty chemicals market and will integrate Vasant Chemicals into its fine chemicals platform, WeylChem Group. This move will help Vasant Chemicals enhance its global reach and value proposition for customers. The financial details of the deal have not been disclosed.

GIC to acquire larger stake in Asia Healthcare Holdings from majority owner TPG

Livemint

Livemint · 8m ago

GIC to acquire larger stake in Asia Healthcare Holdings from majority owner TPG

Singapore sovereign fund GIC is reportedly set to increase its stake in Asia Healthcare Holdings (AHH) ahead of a potential public listing of the healthcare platform in the next year or two. GIC is said to be acquiring an additional 15% stake in AHH from majority owner TPG, making it the biggest shareholder of the platform. AHH, owned by global private equity firm TPG, is valued between $800 million and $900 million. The investment highlights the growing trend of healthcare companies going public in India due to favourable market conditions.

3one4 Capital-Backed Wint Wealth Acquires Ambium

Inc42 · 1y ago

3one4 Capital-Backed Wint Wealth Acquires Ambium

Bengaluru-based fintech startup Wint Wealth Group has acquired a majority stake in Chandigarh-based non-banking financial company (NBFC) Ambium Finserve. The deal, which has received approval from the Reserve Bank of India, provides Wint Wealth Group with an NBFC license. Ambium Finserve has started wholesale lending operations under the brand name Wint Capital, focusing on lending to growth-stage NBFCs for onward lending. Wint Capital's loan book is expected to grow to INR 500 crore by the end of 2024. Wint Wealth Group, founded in 2020, helps customers navigate fixed deposits, corporate and sovereign gold bonds, and bond baskets.

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