Author: CP

Paramount Communications has announced the acquisition of the business of AEI cables in an all cash deal on 03 September 2007. AEI cables has a turnover of approximately GBP 65 million.

Elara Capital Plc, a London- based mid-market advisor, was the sole corporate finance adviser to the company for this transaction. This is Elara Capital’s first cross border transaction involving two listed companies.

The acquisition of AEI cables by the company will make the company the largest listed Indian company in the cable industry with an annual turnover of over Rs 1,100 crore.

The acquisition is substantially funded through borrowings by the company’s new wholly-owned UK subsidiary against the AEI cables assets which it has acquired, without recourse to the company. The company is only infusing Rs 25 crore out of the proceeds of FCCBs.

Unprofessionally managed Adlabs owned by Anil Ambani has suffered its first setback in the Bollywood – RGV’s Aag is a flop show. RGV is said to have lost Rs 15 crore whil Anil Ambnai’s AdLabs is expected to lose Rs 7 crore only on this film.

AdLabs could have been more careful while risking shareholders money, but unfortunately they were not. So weigh every penny before you invest with such companies.

India’s top bus and truck maker, Tata Motors’ vehicle sales in August fell 0.4% to 45,144 units from 45,325 units a year earlier. Commercial vehicle sales in the domestic market rose 1.6% to 23,431 units from 23,069 units a year earlier, while sales of cars and utility vehicles fell 5% to 16,620 units. Exports in August 2007 rose 8% to 5,093 units from 4,715 units a year earlier.

Chairman Ratan Tata confirmed on Friday, 24 August 2007, that he is interested in acquiring Jaguar and Land Rover from their parent, Ford. Tata’s interest in Jaguar and Land Rover stems from a desire to expand Tata Motors’ global presence.