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Berkshire Hathaway confirms investment in Paytm

Berkshire Hathaway, run by billionaire Warren Buffett, has confirmed its first investment in India, in the form of fintech firm Paytm, run by One97 Communications Pvt. Ltd, the Economic Times reported. Mint reported on Monday that the Hathaway is set to buy a stake in Paytm for $300 million -$350 million, valuing Paytm at around $10 billion - $12 billion. Buffett is not personally involved in the transaction, said the ET report, citing his personal assistant who confirmed the transaction. Read more

Shell Gas to acquire Total’s 26% stake in Gujarat unit

Shell Gas B.V., a subsidiary of Royal Dutch Shell plc, said on Monday that it has entered into an agreement with Total Gaz Electricité Holdings France to acquire its 26% equity in the Hazira LNG and Port in Gujarat, Mint reported. The company did not disclose financial details of the deal. The 3,000 crore Hazira facility in Surat district of Gujarat is seen as a key foreign direct investment (FDI) project and represents one of the largest international investments in India in the energy sector, according to Shell India’s official website. Reuters reported in April last year that Shell is looking to double the plant’s capacity, in which it owned 74% at the time. The current buyout will make the port fully owned by Shell.

ICICI Prudential MF sells part of ICICI Securities stake

ICICI Prudential Mutual Fund, the country’s largest mutual fund, sold 4.61 million shares of ICICI Securities in the past week after the Securities and Exchange Board of India (Sebi) directed the asset management company to compensate investors in schemes that had participated in the issue, the Economic Times reported. The fund sold the shares at 325- 330 a share, amounting to 240 crores. Read more

Samara Capital buys Spoton Logistics for $100 million

Private Equity firm Samara Capital has bought express logistics company Spoton Logistics from India Equity Partners, another private equity firm, for $100 million, Business Standard reported. IEP had bought Spoton from Dutch express delivery firm TNT in 2012. Mint reported last week that Samara is joining hands with Amazon to acquire Aditya Birla Retail’s More Supermarkets for around 4,400 crore. Depending on Amazon’s stake, Samara is supposed to hold the remainder. Read more

Patanjali challenges approval of Adani’s Ruchi Soya Bid

Patanjali Ayurved Ltd has challenged the approval of Adani Wilmar’s bid for Ruchi Soya Ltd’s acquisition, arguing that under the insolvency and bankruptcy code, relatives of a wilful defaulter can’t participate in a bidding process, Mint reported. Patanjali has sought Adani Wilmar’s disqualification on the ground that Pranav Adani, managing director of Adani Wilmar, is related to Vikram Kothari, the earlier promoter of Rotomac Group. Adani’s 6,000 crore bid for Ruchi Soya has seen close scrutiny from Patanjali, which has repeatedly asked questions and more information about the deal. The Press Trust of India reported last week that Patanjali had moved the National Company Law Tribunal challenging Ruchi Soya’s lenders’ decision to accept Adani’s bid. Read more-

AION Capital raising second India fund with $1 billion target corpus

Special situations investor AION Capital Ltd is raising its second India-focussed fund with a targeted corpus of over $1 billion, Mint reported, citing two people with direct knowledge of the matter. AION Capital is a joint venture between US-headquartered global private equity fund Apollo Global and domestic alternative assets manager ICICI Venture. Read more

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