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.

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.

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.