dimanche 25 février 2007

Bud qui a soif de l’Inde

Anheuser-Busch International Incorporation (ABII) vient de signer un JV avec Crown Beers India Limited (CBIL) pour faire son entré dans le marché de la bière qui est en train d’exploser.

Le 50-50 JV va s’opérer sous le nom de CBIL. Il y aura une toute nouvelle brasserie à Hyderabad (capital d’état d’Andra Pradesh) avec une capacité de 500 000 hectolitre.

August A Busch IV, le président et le PDG d’ABII, a exprimé sa confiance pour le marché potentiel de la bière en Inde, même s’il est petit aujourd’hui. Les premières Bud vont normalement voir le jour en Inde dans le mois d’avril.

La consommation de bière dans le pays est de 8.2 million d’hectolitres.Le marché de la bière se réjouit avec une croissance de 8 % dans les cinq dernières années.

Pour lire le communiqué presse clique ici.

Source : Economic Times

Le marché de la grande distribution s’avance à grand pas

Dans les 4 à 5 ans à venir, les grandes distributions en Inde auront 40% d’investissement qui viendra des géants internationaux comme Carrefour, Wal-Mart, Metro et Tesco avec une estimation de $ 30 billion. Tesco est d’ailleurs activement à la recherche d’un partenaire pour son ambitieux plan en Inde.

Il y a déjà les entreprises indiennes de très grandes tailles comme Reliance Industries, Aditya Birla Group et Future Group qui voient le marché grandir et veulent eux aussi investir. Après l’ICICI Property Services-Technopark Advisors (PSTA), 94% de l’investissement est estimé pour le marché urbain.

L’immobilier en contre partie a prévu 13 millions m² d’espace pour les super et hyper marchés dans les 5 ans à venir. Mais le besoin actuel pour la même période est de 23 millions m², ce qui fait un manque de 40% d’espace. Pour l’instant il n’y a que 137 hypermarchés d’ouvert dans tout le pays.

La grande distribution est passée de 83612 m² en 1999 à 2.6 million m² aujourd’hui. La croissance étant de 75% annuelle pour les six dernières années. La croissance attendue sera au moins de 50% pour les prochaines 4 à 5 ans d’après les sources de ICICI-PSTA.

Une raison sûr pourquoi les Carrefour et les Auchan du monde entier son à la porte de l’Inde.

Source : Economic Times

vendredi 23 février 2007

Renault Mahindra et Nissan vont faire leur usine à Chennai

Nissan, Renault et Mahindra vont se collaborer pour mettre en œuvre de s’ouvrir leur usine en 2009 à Chennai (Detroit d'Asie), Inde. Les trois constructeurs vont partager l’usine. Mahindra qui est le plus gros constructeur indien par rapport a des véhicules utilitaires et fabricant de tracteur tiendra 50%. Renault le plus gros constructeur automobile d’Europe tiendra 25%. Et Nissan le 3eme fabricant en Japon tiendra le même part que Renault. Le capacité de cette usine va être 350 000 unité par an.

Chennai la ville portuaire c’est aussi la maison pour des usines d’autre entreprise automobile tel que Ford, BMW et Hyundai.

Nissan à déjà ses rivaux Toyota et Honda bien installé en Inde. Il pense aussi augmenté leur présence en rentrant dans le marché des voitures bas gamme.

Renault par contre tiens 44% de Nissan et en contre partie Nissan tiens 15% chez le constructeur Français.

Renault et Mahindra ont un JV qui est prévu pour construire le Logan dans une usine à Nashik à coté Mumbai qui va commençait cet année. Mahindra tiens 51% dans cet JV.

Source : Yahoo et Reuters

jeudi 22 février 2007

Danone et Wadia continuent la guerre froide

Le Groupe Danone est en train de considérer l’option d’investir stratégiquement dans l’Association Biscuits International Holdings (ABIH). Danone a pris une quasi certaine position sur ces investissements avec la société Avesthagen (une entreprise indienne qui a intégré la biotechnologie et la bioinformatique) pour élargir son marché avec ses produits laitiers et l’eau sans perturber ses liens avec Britannia « pour le moment ».

Britannia est une société indienne de Wadia Group. Et la relation entre Wadia et Danone ne sont pas dans au meilleur niveau en ce moment par rapport à une marque déposée de Wadia, les biscuits Tiger. Wadia conteste la démarche faite par Danone en déposant la marque Tiger, dans un peu près 70 marchés, sans leur accord.

Depuis 1994, Britannia a toujours consolidé ses résultats avec Danone. En 2005 ABIH est devenu un actionnaire majeur de Britannia avec 50.9%. De ce fait Britannia fournie les informations financier à ABIH. Danone et Wadia sont des dépositaires égaux avec Britannia.

Danone affiche un coté agressif dans l’Asie Pacifique avec une indication pour jouer un jeu solo dans le marché émergent comme l’Inde. Cela peut expliquer la raison pour lequel il voulait être un actionnaire avec ABIH et non pas faire un partenariat avec Wadia.

Source : Economic Times

mardi 20 février 2007

Après Tata Steel c'est le tour de UB Group et Apollo Hospitals

Après l’acquisition fait par Tata Steel en Janvier cette année, c’est le tour de UB group et Apollo Hospitals de faire le « business deal » avec Europe.

Après l’acquisition de Corus par Tata Steel en Janvier, la prochaine grande affaire impliquant les compagnies indiennes, seraient l’United Breweries de Vijay Mallya reprenant la plus grande société de whisky Whyte & Mackay, et les Hôpitaux Apollo achetant une partie des hôpitaux privées en Grande Bretagne.

Après plusieurs mois de négociations, Mallya a annoncé à consentir à augmenter ses prix pour Whyte & Mackay à 550 millions de livres. Son offre initiale était de 475 millions de livres dès lors que le propriétaire actuel de la société basée à Scotland l’avait évalué à 600 millions de livres.

Les rapports ici, disent que la décision final est « encore sujet à un procédé de diligence », mais les sources proche de Mallya, cite que l’affaire pourrait être finalisé dans une quinzaine de jours. Aucune des deux compagnies jusqu’ici, n’ont officiellement annoncé du mouvement dans cette affaire.

Les marquent de Whyte & Mackay inclus le whisky W&M Scotch, la vodka Vladivar et le whisky de premier malt Jura. Selon le Daily Telegraph, la société à 9% d’action du marché total du Scotch.

La semaine dernière, Mallya a dit à Scotland On Sunday : « Les négociations sur Whyte & Mackay continue positivement. Du progrès est en train de se faire, et le trou entre les deux précédentes positions se rétrécis. »

Une affaire valant 550 millions de livres serait une aubaine pour les actionnaires de Whyte & Mackay's, incluant le président Vivian Immerman et son beau-frère, Robert Tchenguiz. Ces deux avec d’autres investisseurs avaient acheté la compagnie en 2001 pour 208 millions de livres.

Cette affaire tant attendue avec United Breweries de Mallya a besoin d’être observé d’un contexte de longue bataille d’esprit et de pouvoir entre Mallya et l’Association de Scotch Whisky (SWA), qui a fait de vigoureuse campagne à différent niveau en Grande Bretagne, l’Union Européenne et l’Inde pour s’assurer que l’Inde réduit ces frais douanier sur des importations d’alcool en ligne avec les règlements de l'Organisation mondiale du commerce.

Il y a un intérêt considérable sur le marché indien du faite de l’augmentation de la classe moyenne et de la croissance exponentiel de demande de whisky Scotch. Les leaders industriels attendent gentiment le budget fédéral indien qui va arriver, pour annoncer la réduction de frais douaniers sur l’import.

Aussi dans le même ligne c’est l’Apollo Hospitals Group, qui est en train de visé sur plusieurs hôpitaux privés. D’après Economic Times, Apollo est en train de travaillé sur des collaborateurs potentiel pour son expansion outre Indien.

Source : Economic Times

lundi 19 février 2007

Michelin va installer son usine à Pune

Source : Business Standard

With the 51:49 joint venture Michelin Apollo Tyres (MATL) failing to take off, the France-based Michelin, the world’s second largest tyre maker, is planning to set up its own truck and bus radial manufacturing facility in Ranjangaon, Pune. The plant will come up adjacent to Apollo’s existing facility in Ranjangaon. In 2004, Apollo and Michelin had announced a tie-up for setting up a production unit in the same region to produce truck and bus radials, primarily to cater to the domestic market. According to the JV, the plant would have had an annual capacity of 300,000-350,000 units with an investment of $75 million. Later in 2005, Apollo Tyres and the Michelin group had agreed to realign their business plans and had announced Apollo’s exit from MATL.

The group (Michelin) has already secured the land in the region for setting up the radial facility there. We will perhaps hear a formal announcement from them this year, said a top industry official who did not wish to be named. The group has roped in Germany’s luxury carmaker BMW for supply of passenger car tyres, which would be churned out from the latter’s assembly unit in Chennai. The decision to end the joint venture was taken based on the prevailing market conditions then and the pace of radialisation in truck and bus tyre segments. The partners had decided to refocus their respective resources towards more immediate projects. Michelin’s global competitor Bridgestone, which already has a passenger vehicle plant in the country, is said to be considering the possibility of setting up a truck and bus radial manufacturing facility, as its existing facility would not be able to produce such tyres.

BNP Paribas s'intéresse à SpiceJet



Source : Yahoo & Reuters


Indian carrier SpiceJet Ltd. said it has issued about 13.1 million shares, or a 5.43 percent stake in the company, to BNP Paribas Arbitrage.

samedi 17 février 2007

L'espagnol Gestamp et TACO de TATA sont arrivés sur un accord

Source : Economic Times

Tata Group firm Automotive Stampings & Assemblies Ltd on Saturday said Spain-based Gestamp Servicios SL will acquire 37.5 per cent stake in it in a deal that could be valued at nearly Rs 36.31 crore.

Under the agreement, Gestamp would acquire up to 37.5 per cent of the paid-up equity share capital of the company from from one of the promoters, Tata AutoComp Systems Ltd (TACO), and partly through an open offer to the shareholders at a price of Rs 94.96 per share, the company informed the Bombay Stock Exchange.

The number of equity shares that Gestamp would acquire from TACO would depend on the number of equity shares tendered by the public shareholders, in response to the open offer, it said. Post acquisition, Gestamp along with TACO and Tata Industries Ltd would become the promoters of the company, it said.

The board at its meeting held on Friday discussed the acquisition and took note of Gestamp's public announcement issued by Yes Bank Ltd on behalf of the Spanish company for acquiring up to 19,02,261 equity shares of the company. After completion of the sale of shares as above, the company would become a joint venture of TACO and Gestamp.

Gestamp and TACO, inter se, would eventually have 50:50 equity stake in the company. Gestamp would provide necessary technology to Automotive Stampings in terms of an agreement to be finalised for this purpose.

vendredi 16 février 2007

Les Indiens professionnels pourront dans le futur se déplacer plus librement en Europe

Source : Economic Times

Freer movement of Indian professionals in 25 European Union member countries is likely to be a reality in the near future, as this will be a key point of negotiations in the proposed Free Trade Agreement with EU.

"We appreciate that the issue of free movement of professionals is critical for India and will also feature in negotiations for FTA," Director General for Trade (European Commission) Davis O'Sullivan told the media.

"Even in WTO negotiations, Europe has been more forthcoming on the issue. However, there are some sensitives in Europe on Mode 4 which we will have to manage," he said.

In return, India should also relax restrictions on foreign ownership in services of interest to Europe like retail, financial sector and telecom, he said.

In WTO and other bilateral trade agreements, India has been demanding that professionals, especially in IT, medicine and engineering should be given liberal visas to work on short-term projects.

Sullivan said the negotiations for India-EU FTA would start in April after the Council of Ministers of Europe grants the mandate to the European Commission.

The FTA would aim to cut duties to zero on 90 per cent goods traded between India and Europe.

Although Europe subsidises its farmers heavily, Sullivan allayed fears that India could become a dumping ground for agriculture products. "We understand India's concerns regarding its subsistence farmers but we do not foresee much problem because Europe is not an exporter of bulk agriculture products," he added.

jeudi 15 février 2007

A 22kms de Pondicherry, un chantier naval va bientôt voir le jour

Source : Economic Times

A world class Ship Building yard is set to come up at Cuddalore in Tamil Nadu. Good Earth Maritime, a Korean company, plans to invest Rs 1,000 crore to establishing the project.

The Tamil Nadu government and the Korean company entered into a formal MoU, here on Thursday, to pave the way for works to start for the project. The MoU was signed in the presence of Tamil Nadu chief minister, Mr M Karunanidhi, besides state Electricity minister, Mr Arcot N Veerasamy and state chief secretary, Mr L K Tripathy and other officials.

In fact, a delegation from Korea had earlier met the chief minister on November 7, 2006 and sought the government's support for establishing the ship building project in the state. Mr Karunanidhi had directed the authorities to extend all possible support to enable the project to come up in Tamil Nadu.

According to a statement, issued by the government, the project is to be completed in two phases over three years, attracting an investment of Rs 500 crore for each phase. Once completed, the project will provide direct and in-direct employment to 5,000 and 20,000 people respectively.

L'Oréal veut s'agrandir avec des produits ayurvediques

Source : Reuters et Yahoo India

L'Oreal, the world's largest cosmetics group, is looking to buy an Indian skin-care brand to tap the growing consumer appetite worldwide for exotic beauty products, the Wall Street Journal said on Thursday.

"We would be interested in buying an Indian ayurvedic brand to bring the Indian vision of beauty to the world," Chief Executive Jean-Paul Agon told the paper in an interview.

Agon said L'Oreal had not identified what brand it would like to buy and was exploring a range of options, the Journal reported. The next three to five years would be a period of major growth for the French firm in India, he added.

L'indien Kanbay racheté par CapGemini

Source : Boursorama et AOF

Capgemini a finalisé l'acquisition de Kanbay International. Les actionnaires de la société indienne de services informatiques spécialisée dans les services financiers, ont approuvé jeudi dernier le rachat de leur groupe à un prix de 29 dollars l'action en numéraire, valorisant Kanbay à 1,25 milliard de dollars. Avec l'accord des actionnaires de Kanbay et la levée de toutes les autres conditions suspensives, l'opération annoncée le 26 octobre a été clôturée vendredi.

La société résultant de l'intégration de Kanbay et Capgemini, se classe parmi les cinq premières entreprises de conseil en informatique dans le monde et propose à ses clients une offre globale qui s'étend des Etats-Unis à l'Europe et jusqu'en Asie-Pacifique. Avec un effectif de 7 600 collaborateurs aux USA, au Royaume Uni, en Inde et dans la région Asie-Pacifique, Kanbay vient augmenter le réseau mondial de professionnels opérant dans le secteur Service Financier chez Capgemini à plus de 15 000 personnes, et porter les effectifs du groupe en Inde à près de 12 000 collaborateurs.

Grâce à cette acquisition, l'Inde devient le deuxième pays du groupe (18 % des effectifs) et Capgemini est présent dans six grandes villes en Inde : Mumbai, Kolkata, Pune, Hyderabad, Chennai et Bangalore.

Pour en savoir plus lisez l'article.

C'est le tour d'Infosys de faire l "€uro shopping"

Source : Economic Times

Bangalore-based IT major Infosys Technologies is scouting for acquisitions of mid-sized BPO companies in Europe. Sources in the industry said the company is looking at deals valued at over Rs 400 crore. Infosys, which has been on the look-out for a deal for some time now, plans to increase the scale of its BPO outfit through an acquisition.

“We are looking at acquisition in various geographies, including Europe in both IT services and BPO. In case of BPOs, the driver for Europe would be local language capability, client-base and platform,” a company source told ET.

Sources close to the development said the company is already in discussions with a few players for an acquisition. The company, however, did not confirm this.

Infosys BPO started as a joint venture between Infosys and Citibank Investments in 2002. During the first quarter of the current fiscal, Infosys bought Citi’s 23% stake in the company for Rs 530 crore. The company’s name was also changed from Progeon, after the BPO became Infosys’ wholly-owned subsidiary.

The company has operations in India, the Czech Republic, China and Philippines, through a partner. Infosys has provided a FY07 revenue guidance of $125 million for its BPO outfit.

Infosys BPO recently won a contract from one of the largest integrated oil companies in the world to deliver a wide range of indirect procurement services, including third-party hiring, commodity sourcing, indirect services sourcing, and supplier performance management. Recent wins include one of the best known US media companies.

Expanding its delivery footprint, Infosys BPO recently opened a 900-seat centre in Jaipur and announced plans to increase its capacity significantly over a 3-5 year period. The company also opened a centre in Delhi.

In December last year, the shareholders of Infosys BPO approved a buy-back of up to 12,79,963 equity shares at a market value of Rs 604 per equity share. Pursuant to the buy-back offer, Infosys BPO bought back 11,39,469 equity shares, which were subsequently cancelled on December 29, 2006. As of December 31 2006, Infosys holds 99.91% of the outstanding equity shares of Infosys BPO.

mardi 13 février 2007

Accord de libre-échange entre l'Inde et 4 pays Européens

Source : PTI

India is in talks with four European countries -- Switzerland, Norway, Iceland and Liechtenstein -- to strike a comprehensive economic agreement that would facilitate free trade relations, Swiss officials said here. A joint study group has been established by India and the four countries (EFTA States) to explore the feasibility of such an agreement, they said.

"We hope that draft of that agreement could be finished by November this year", Swiss Ambassador to India, Dominique Dreyer, told PTI here. "Then, draft has to be ratified by the five countries concerned".

Earlier, addressing an investment conference here today organised by "Location Switzerland", Ambassdor Monika Ruhl-Burzi, Head of Berne-based Bilateral Economic Relations Division, State Secretariat for Economic Affairs, said conclusion of such an agreement establishing free trade relations would be a major milestone in economic ties between the countries and provide a fresh impetus in this direction.

Dreyer said Switzerland was trying to set up a working group with India on intellectual property rights and also seeking to enhance cooperation in science and technology fields.

'LOCATION Switzerland' is the official programme of the Swiss government for the promotion of investments into that country.

Swiss officials said "access to European markets, a highly specialised and multinational workforce and a modest corporate tax rate are just some of the many attributes Switzerland provides foreign companies".

Nissan et Renault veulent faire des voitures pour la classe moyenne indienne

Source : Economic Times

Japenese car maker Nissan is co-developing a new small car platform for developing markets along with its alliance partner Renault, joining a growing list of global car makers seeking to exploit India’s strengths in the volume car business.


This new platform is specially targeted at emerging markets like India and Russia and comes as further validation of India’s emerging status as a global small car hub.

Sources close to the development have indicated that Nissan and Renault are working on a small car, most likely a B segment hatchback, which is expected to be one of Nissan’s flagship models in India. Further details about the new platform were not available.

People close to Nissan say that India may become an important manufacturing hub for the new small car as Nissan is known to be targeting big volumes in its India facility.

Easy availability of finance, increased salaries, higher proportion of double income households, a higher propensity to spend and little improvement in public transportation have led to a boom in India’s mini and compact car segments. Accounting for over 75% of passenger car sales last year, the small car segment is poised for a major expansion with a slew of new models waiting to hit the market in the next two years.

The compact car roster currently includes Volkswagen which is putting up a greenfield plant in Pune to manufacture a derivative of its Polo model and General Motors which has already rolled out the Aveo U-VA in the hot hatch segment and is working on the Chevrolet Spark to target the mainstream small car segment. Also lined up are products like the Grande Punto from the Tata Fiat combine, the next-generation Honda Jazz and a small car from Daihatsu to be rolled out by Toyota. Besides these market leader Maruti Udyog is also expected launch a host of new cars in the segment.

“On new product issues we have no clear statement to make at this stage,” Nissan India MD Yoshie Motohiro told ET. However, she said that in the past, the alliance has worked towards greater collaboration in product development. “The policy of the Nissan-Renault alliance is that if both companies find a win-win situation, we go through with any project. So, according to that strategy, we have collaborated in the past on common platforms and powertrains.”

However, Nissan and Renault have never before jointly developed an entire model. Renault’s success with the low-cost mid-sized car Logan may have gotten its Japanese partner interested in collaborating with it for a new car for emerging markets.

Though it has set itself an ambitious target of manufacturing 3,00,000 vehicles a year in India, Nissan is yet to reveal its strategy for the country. On Nissan’s local manufacturing plans Ms Motohiro said: “As announced in November, we are still actively discussing with Renault-Mahindra whether a collaboration can be achieved. So I cannot comment on that. Nissan will take a call on the matter by March."

As announced by Renault/Nissan top boss Mr Carlos Ghosn in November 2006, Nissan is expected to join the Mahindra-Renault joint venture company for manufacturing its cars in India. But the company is also known to be exploring other options like setting up a greenfield facility to meet its requirements.

lundi 12 février 2007

Maintenant c'est Glenmark qui veut acheter en €uros

Source : Economic Times

Leading mid-sized pharma company Glenmark Pharmaceuticals will soon enter the European market by acquiring a front-end pharmaceutical company for about Rs 100 crore. Glenmark MD Glenn Saldanha told ET that the target company is in Central Europe and the deal is likely to be through before the end of March.

It has a strong marketing force and some approved products, Mr Saldanha said without disclosing the company’s name. Glenmark just has an office in the UK now for business development.

Merchant bankers said there are many small and medium-sized family-owned pharma firms in Europe that have low profitability and are up for sale. They would suit the needs of Indian companies planning to enter the EU market, they said.

Glenmark is already present in over 80 countries including the US in the business of finished products and key ingredients called APIs. It is strong in therapeutic segments such as dermatology, internal medicine, paediatrics, gynaecology, ENT, diabetes and oncology.


The company is also in talks with a few MNCs to licence out the Europe rights for its experimental asthma drug oglemilast. US-based Forest Laboratories Inc has the North American market rights and Teijin Pharma has the Japanese market rights for the drug.

Vodafone rentre en Inde pour y devenir le premier marché dans le monde

Source : PTI News

Vodafone has announced acquisition of majority 67 per cent stake in Indian mobile firm Hutch- Essar for 11.1 billion USD, marking the single largest foreign investment into India -- one of the fastest expanding telecom markets.

Announcing the deal that puts the enterprise value of Hutch-Essar at 18.8 billion dollars last night, Vodafone CEO Arun Sarin said: "We are delighted to be deepening our involvement in the Indian mobile market... We have concluded this transaction within our stated financial investment criteria." Simultaneously, Vodafone offloaded its 5.6 per cent direct stake in India's mobile leader Bharti Airtel to the Bharti Group for 1.6 billion USD.

Vodafone said it had agreed to buy Hong Kong-based Hutchison Telecom International Ltd's 67 per cent stake in Hutch-Essar for 11.1 billion USD plus two billion USD in debt, valuing the company at 18.8 billion USD.

"This is a good price which reflects the premium position of Hutchison Essar as India's leading operator," Essar, which holds 33 per cent stake in the venture, said in a statement.

Vodafone's bid trumped offers by Reliance Communications (RCOM), Essar and the Hinduja Group.

RCOM Chairman Anil Ambani, in a statement, welcomed Vodafone into India, saying: "Vodafone's participation is a further endorsement of the exciting future growth potential, and the progressive policies... In the Indian telecom sector." Earlier, Bharti Group Chairman Sunil Mittal told PTI that "the Indian telecom sector is one of the most sought after in the world and the (Vodafone) bid is a strong endorsement of the government policy to promote the Indian telecom sector."

UK telecom giant Vodafone has offloaded its 5.6 per cent direct stake in India's mobile leader Bharti Airtel to promoter Sunil Mittal's group for 1.6 billion dollars, coinciding its acquisition of controlling stake in Hutch-Essar.

"Vodafone has sold its 5.6 per cent direct stake in Bharti Airtel to the group," Bharti Group Chairman Sunil Mittal told PTI, elaborating that the deal was on a deferred payment basis.

Vodafone will, however, continue to hold an indirect 4.4 per cent stake in the Company, as a financial investor and will not have any representation on Bharti Airtel's board nor any management rights.

Mittal, whose group brought Vodafone to India by making that company a strategic partner, said: "We are pleased to welcome Vodafone and congratulate them on their Hutch acquisition.

He said that Bharti and Vodafone have enjoyed a very fruitful relationship and both the companies will work with the Industry to connect millions of people across India.

Après Carrefour c'est le tour de l'arrivé d'Auchan en Inde

Source : Economic Times

THE GOVERNMENT may be a fence-sitter on FDI in retail but that has not dampened the enthusiasm of global retailers to be part of India’s growth story.


Auchan, the $50-billion grocery and consumer goods retailer from France and the ninth-largest food retailer in the world, is shaping up its India plans.

The retailer is believed to have held talks with Bombay Dyeing, a Wadia group company which is currently finalising its retail venture. It is learnt that Ness Wadia has met the Asia-Pacific head of Auchan. Informed sources said the much-publicised Wadia-Carrefour alliance is still far from being finalised and the deal could swing either way.

Carrefour, it’s learnt, is talking to other Indian business houses as well. In the absence of FDI in front-end retail of food and grocery, which is also not set to be liberalised in a hurry, most foreign retailers are exploring a model similar to that of Wal-Mart-Bharti (JV at the backend and a licensing arrangement in the front-end) which is permissible under Indian laws. At the same time, foreign retailers want to partner business houses of repute who also have sufficient political clout. This explains why Wal-Mart chose the Bharti Group (it is learnt that it had also approached Reliance Retail) and why Carrefour’s talks with the Dubai-based Landmark group failed. Given the government’s blow-hot, blow-cold attitude towards foreign retailers, especially those selling food and grocery, consultants often advise such retailers to go with partners capable of providing sufficient cushion during rough weather. A Bombay Dyeing spokesperson declined to comment on its retail plans. However, it’s known that the group is currently finalising its plans in the space of malls, hyper markets and super markets. The group’s textile retail business is being handled independently of its other retail plans.

Auchan, the latest foreign retailer to join the India bandwagon, is known for its strength in hypermarkets and has also strengthened its position in supermarkets through the acquisition of Docks de France. It is currently faced with the challenge of pushing growth rates beyond France and other developed but saturated markets.

From the time its first outlet in Roubaix, France opened in 1961, Auchan has grown over the past 45 years to become a leading international grocery and consumer goods retailer, operating across 12 countries globally. With a workforce of 160,000, the Auchan Group operates over 600 supermarkets and 300 hypermarkets. Groupe Auchan, an unlisted family company, is implementing a policy of progressive and controlled international growth, and is concentrating its investments on priority development areas: Western Europe, Central and Eastern Europe, and Asia.

dimanche 11 février 2007

Difficile de résister à un chèque de 1 crore rps (environ 15000 € / mois) et l’opportunité de travailler à l’étrangers?

Pas vraiment, pour deux étudiants de IIM (Indian Institute of Management) – Ahmedabad, qui ont laissé cette opportunité pour devenir entrepreneur. Devashish Chakrobarty et Vineeta Singh, qui ont rejeté l’offre de 1 crore Rs (175.118,61 €) de la Deutsche Banque, prévoit d’installer une chaîne de lingerie dans les métropoles.

C’est une des quelques aperçus de l’esprit d’entrepreneurs dans les couloirs des B-Ecoles. Et les réactions ne sont pas difficiles à trouver. Quand un salaire de 10 lakh Rs est proposé à un tout nouveau diplômé, avec en plus la sécurité de l’emploi et une exposition aux monde des affaires en générale, il est dur d’y résister.

Beaucoup d’étudiant disent qu’ils aimeraient commencer leur propre entreprise mais n’ont pas d’expérience. De plus, le risque d’échec, peut déstabiliser leur confiance, aussi tôt, dans leur carrière.

« Nous devrions apprendre comment gérer une entreprise avant de se lancer nous-même », dit Sourav Mukherjee de IIM – Bangalore. « Cependant quelques étudiants de notre institution ont optés pour des start-ups ».

SP Jain Institute of Management and Research, Bombay, et la Fondation de Wadhwani, ont démarré un programme de 17 semaines, Commencer Votre Entreprise, pour des entrepreneurs potentiel. N.S. Raghavan, Cofondateur d’Infosys, a aussi débuté un centre à IIM – Bangalore, pour encourager l’esprit d’entreprise.

Ecrit par Karine

Aprés l'acier les indiens achètent l'aluminium

Source : Economic Times

Aditya Birla Group company Hindalco on Sunday announced the acquisition of US-based aluminium firm Novelis for six billion dollars in an all-cash deal.


Announcing the acquisition, Birla group chairman Kumar Mangalam Birla on Sunday said the deal would include $2.4 billion in debt.

The shareholders of Atlanta-based Novelis, a demerged entity of Canadian aluminium giant Alcan, would meet after the court's approval, Birla said.

Novelis shareholders would recieve $44.93 per share as part of the deal, which is 16.5 per cent over Saturday's closing price. The deal requires approval from shareholders of two-third of the company's total equity capital.

Following the acquisition of Novelis, Hindalco world's largest aluminium rolling company, one of the biggest producer of primary aluminium in Asia and India's leading copper producer.

The transaction is expected to be completed in the second quarter of 2007, the two companies said in a joint statement.

Birla said, "The acquisition of Novelis is a landmark transaction for Hindalco and our group. It is in line with our long-term strategies of expanding our global presence across our various businesses and is consistent with our vision of taking India to the world."

The combination would establish a global integrated aluminium producer with low-cost alumina and aluminium production facilities combined with high-end aluminium rolled product capabilities, Birla added.

Novelis' acting CEO Ed Blechshmidt said in a statement that the board unanimously agreed that the deal delivers outstanding value to the company's shareholders.

Hindalco's Managing Director Debu Bhattacharya said that there are significant geographical market and product synergies and the acquisition would give the company immediate scale and a global footprint.

The two companies said in a joint statement that the deal was unanimously approved by their respective boards and the closing of the transaction was not conditional on Hindalco obtaining financing.

samedi 10 février 2007

Suzlon veut acheter REpower Systems en mettant une meilleure offre qu'Areva sur la table


Source : Economic Times
Domestic wind energy major Suzlon Energy has placed a 126 euro per share bid to acquire German wind turbine manufacturer RE Power Systems, company sources said here on Friday.

The company will acquire Germany-based REpower Systems, engaged in the business of development and supply of wind turbine generators, jointly with PorMartifer SGPS of Portugal.

French company Areva has already made a 105 euro per share bid for acquiring the company, Suzlon Energy sources added.

Suzlon in a regulatory filing to the BSE said the board of company has approved of the acquisition in the foreign firm by a voluntary public tender offer through its overseas subsidiaries in concert with the Portugese firm.

The acquisition would be subject to certain conditions precedent as may be stipulated in the voluntary public tender offer, which would be approved by the German Stock Market Regulator (BaFin) and respective competent competition authorities, it added.

The board also approved the conclusion of a takeover, shareholders agreement among one or more of its overseas subsidiaries and Martifer SGPS, SA and its affiliates relating to the acquisition including the issuance of a parental guarantee.

The company would also provide a corporate guarantee to secure appropriate financial assistance being granted by various leaders to such overseas subsidiaries of the company for the acquisition, it added.

vendredi 9 février 2007

L'usine de BMW arrive à Chennai (Madras) en Mars


Source: Financial Times


Germany
's BMW, the world's biggest luxury carmaker, will start assembling cars in India next month and expects to produce 1,000 vehicles in the plant's first year of operation, it said on Thursday.

The Munich-based company also said it would stick to its goal of selling 150,000 cars in Asia by next year, after sales in the region climbed 13.8 percent last year to a record 126,949 vehicles.

BMW's plant in Chennai in India's southern state of Tamil Nadu is the group's fifth factory in Asia and will make 3 and 5 series BMWs exclusively for the Indian market.

"It will be around a thousand units this year and we'll bring it up to the plant's capacity of 1,700 next year," BMW management board member Michael Ganal told journalists after a news conference.

BMW, the world's biggest premium carmaker ahead of DaimlerChrysler's Mercedes-Benz, hopes to sell around 1,000 cars this year in India, up from just 257 last year.

Ganal said India was a difficult market but added that the firm expects to profit from rising demand for its luxury cars as a result of rising wealth.

Sales in the premium segment -- which includes such brands as BMW, Mercedes-Benz, Lexus, and Audi -- in Asia's third-largest economy reached 5,400 cars last year and Ganal expects that figure to rise to around 10,000 by 2012.

The company also said sales of BMW brand cars in Asia rose 15.5 percent in 2006 from the previous year to 109,848 units.

Sales of its popular Mini in Asia rose 3.7 percent to 16,959 vehicles, while its ultra-luxury Rolls-Royce Phantoms sold 142 times -- 40 more than in 2005.

Sales of BMW motorbikes were almost unchanged at 3,620.

Japan, which accounts for the lion's share of sales in the region, recorded a 5.6 percent rise to 62,068 units, while China showed the strongest growth rate in Asia last year, up 35 percent to 44,700 vehicles.

Last month, BMW announced a 5 percent rise in 2006 group sales to a record 49 billion euros ($64 billion) and reaffirmed that its 2006 pretax earnings would hit 4 billion euros on the back of a 3.5 percent rise in unit sales to just over 1.37 million BMW, Mini and Rolls-Royce cars. ($1=.7684 Euro)

EADS signe un accord avec L&T à Bengaluru Aero India 2007

Source : Business Standard

Larsen & Toubro (L&T) and European aerospace and defence group EADS today took the first step towards joint exploration of business opportunities in defence and aerospace.

According to a release issued by L&T to the BSE today, M V Kotwal senior executive vice president of L&T and Daniel Baubil, executive vice president and head of global industrial development of EADS, signed a Memorandum of Understanding (MoU), to establish a long-term, profitable and stable relationship to better address the needs of the aerospace and defence markets in India and around the world. The signing took place at the Aero India 2007 exhibition in the city.

M V Kotwal said that, "the opening up and rapid growth of the defence market represents a major opportunity. This can lead to new forms of cooperation involving innovative technologies. As a company that has been supplying critical equipment and systems to the strategic sectors of defence and aerospace for over four decades, we welcome this opportunity to induct state of the art technology, and expand our range of high value offering".

'The agreement between L&T and EADS defines the formation of working teams to build a joint business model and appropriate common strategies on several key segments of the aerospace and defence market', the release added.

Pas de Taittinger? Ce n'est pas grave, Il y a le Scotch

Source : Economic Times

Isle of Jura was among the favourite evening toasts of the late Vittal Mallya. This drink from the Whyte & Mackay portfolio figures in the bar cabinet of Conservative Party leader David Cameron-widely touted as the British prime minister in waiting.

Nearly 25 years after donning the mantle of UB Group chairman following the sudden demise of his father, Vijay Mallya looks set to swoop down on London to clinch the $1.06-billion acquisition deal for Whyte & Mackay. After seven months of negotiations and several failed deadlines, UB’s top financial honchos are seen hammering out a consensus with W&M chairman Vivian Immerman on a deal valued at £540 million, which is higher than the initial offer that stood at around £480-500 million.

A top UB source confirmed that a deal is in the offing any time, with final due diligence and bankers’ visit to W&M’s four distilleries likely to be completed next week. Both camps are still in talks to resolve some minor irritants, which are not exactly threatening, source added.

jeudi 8 février 2007

Wadia amène Danone dans le tribunal Indien

Source : Economic Times

The Bombay High Court will hear the Wadia Group's dispute over a joint venture with France's Groupe Danone in due course of time.
The matter was earlier being heard by a division bench of Justices R M Lodha and S A Bobde, who had restrained Groupe Danone from "creating third party interest" in the five per cent stake that it picked up in another Indian company, Avestha Gengraine.

The earlier order implied that Danone could not sell or transfer its shares of Avestha till Janury 10. With judges to hear the case yet to be appointed following Lodha's transfer to the Rajasthan High Court, status quo shall be maintained in the matter.

Danone had formed a joint venture with the Wadia Group in 1994 called Wadia BSN Ltd. According to the agreement between the Wadias and Danone, if either party wanted to invest independently in any "business opportunity" in India, it would first place the proposal before the Wadia BSN board.

If Wadia BSN was interested in that business or investment opportunity, the partners independently could not make an investment. On the other hand, if Wadia BSN was not interested, the partners can avail of the opportunity on their own, the agreement stipulated.

This agreement has now become a bone of contention between the two firms. In October last year, Danone put up a proposal at a board meeting of Wadia BSN that the joint venture could acquire a five per cent stake in Banglore-based Avestha. But the Wadias' case is that Danone later went back on the proposal and acquired a five per cent stake in Avestha on its own.

This violates the pact between the two partners, the Wadias say, especially when the joint venture itself was interested in acquiring stake in Avestha.

mardi 6 février 2007

La vision numérique de l’Inde et ses un billion

Source : Jonathan Fildes
Science and technology reporter, BBC News

As 2006 drew to a close the President of India outlined his vision for a connected India.

He challenged the country's technical elite to provide free bandwidth "for anyone, anywhere, anytime".

In the speech, Dr Abdul Kalam said that communication channels were a "demolisher of imbalances" and likened the government's responsibility to it to "laying the roads".

This one action, he said, would not only boost the economy of India but would also address the imbalance between the haves and the have-nots of the digital world.

It would allow for services such as e-governance, remote diagnosis of disease through telemedicine and distance learning.

"I am convinced we will soon be living in a world of unlimited bandwidth," he told the gathered crowd in the IT hub of Salt Lake, just outside Calcutta.

But Dr Kalam, and the India government's vision of inclusive growth is not as simple as it may seem.

Business muscle

Although in urban areas there is a fibre optic infrastructure and a comprehensive mobile phone network, it only serves a fraction of the population.

More than 700 million Indians live in rural areas, much of which is untouched by modern communications. 27% of homes do not have electricity.

The International Telecommunications Union (ITU) estimates that in 2005 - the latest year for which complete figures are available - there were around 60 million internet users in India, about 5% of the population. Only a fraction of these have internet access in their home.

In addition, less than 10% of people have a phone subscription, mobile or otherwise and nearly one fifth of villages do not even have a single public telephone.

But efforts to span the digital divide are gathering pace. Once the territory of grass roots movements and non-governmental organisations, big business is now throwing its considerable muscle behind initiatives to connect India.

Microsoft, for example, revealed plans to set up a network of 50,000 internet kiosks across India over the next three years.

The Saksham project will use existing phone lines or use VSAT satellite link-ups and will be run by local entrepreneurs.

VSAT is a commercial service typically used to provide internet access to remote locations. It can be expensive but offers speeds up to 2 megabits per second (Mbps).

The project builds on other initiatives by groups such as n-logue who have run pilot kiosk projects for over five years.

Final mile

Other big players are also looking at rolling out bandwidth to rural areas. Chip-maker Intel and network firm Nortel have been running Wimax trails in several sites across India.

Wimax (Worldwide Interoperability for Microwave Access) is a technology designed to give people high speed access to the net over relatively long distances.

A typical Wimax system could theoretically give users in an area three to 10 kilometres wide a 40 Mbps connection to the net.

This technology, already deployed in some urban centres like Chennai (Madras) and Mumbai (Bombay), would overcome the need to lay expensive cables or fibre optics to villages.

"Rolling out copper to rural villages is close to impossible," said Lil Mohan, head of Wimax technologies for emerging markets at Intel.

At the moment there is a wired backbone throughout India but many villages are 30 to 40km away from the nearest connection.

"Wimax services can overcome that. One or two Wimax base stations are enough to connect three or four villages," said Mr Mohan.

The government telecoms operator BSNL is also in the process of rolling out some Wimax services.

But it is still expensive and at the moment is aimed squarely at large businesses that need a quick-fix solution to broadband access.

Mobile hope

The technology may be trumped by the burgeoning mobile market in India. Between 2000 and 2005 mobile phone subscribers grew about 3.5 million people to 90 million, according to the ITU.

It is estimated that there are now more than 130 million users and there could be 200 million by the end of 2007.

Four million handsets are sold every month and India is now the third largest mobile population in the world. Although most phones are primarily used for voice calls, data services are on the increase.

WAP (wireless application protocol), a standard protocol that allows basic internet access is on the increase across the continent and more advanced technologies are also snapping at its heels.

"3G technology is starting to be put in place," said Mr R N Palai of BSNL. "Everywhere there is a waiting list."

Combined with some of the lowest call charges anywhere in the world, mobile technologies are looked on as a great hope for India.

"In my lifetime, the growth of telephony is among the big success stories," said Frederick Noronha of IT advocacy group Bytes For All.

And innovative schemes are putting mobiles within reach of everyone. For example, Indian firm Bharti Telesoft has launched a prepay scheme called PreTUPS, that allows low income mobile users to buy credits in increments of one taka, less than one pence.

The scheme is currently only operating in Bangladesh but could offer a low cost solution to provide bandwidth for all within India.

Future vision

But people like Professor Balaji Parthasarathy, from the International Institute of Information Technology (IIITB), Bangalore, believes providing bandwidth is only one half of the story.

"Once you have the bandwidth, 'what are you going to do with it?'," he asked.

"If you don't have meaningful content, 'why provide the bandwidth at all?'."

For text-based services, this problem is compounded in India by high illiteracy rates and the multitude of different languages.

But both governments and business see the provision of bandwidth as something that allows more than just access to the web.

Both have trialled distance learning, remote diagnosis of disease and e-governance. Several projects also provide real time crop prices to farmers.

But history has shown many of these are difficult to scale-up or fund in the long term, said Professor Parthasarathy.

So, what does he think of the President's ambition to provide broadband for all?

"A vision is a vision. As an Indian I hope that it comes true, but as an academic I remain sceptical," he said.