UTI Capital has acquired minority stake in Indian Oiltanking Infrastructure and Energy Services for R100Cr through India Infrastructure Development Fund.
The funds raised will be used for 1.4 mn kilolitre capacity petroleum product facility at Indian Oil Corporation’s (IOC) 15 million MTPA Refinery in Paradip, Orissa and the proposed 1,92,520 kilolitre capacity Common User Terminal in Raipur, Chhattisgarh.
Incorporated in 1996, Indian Oiltanking is a 50:50 JV between Indian Oil Corporation and Germany's Oiltanking GmBH. It entered into the upstream services business in 2008 with the acquisition of Newsco Directional & Horizontal Drilling Services (Asia) Inc., provider of directional drilling services in India. IOT currently holds 75% stake in Newsco Asia.
The company's newly formed Power division is executing the EPC contract for a 300 MW Power Plant at Chattisgarh and its Civil division is executing a Water Supply project in Rajasthan.
IOT has also expanded its businesses in other geographies such as Kazakhstan, Indonesia and Saudi Arabia. In Saudi Arabia the Company has entered into a JV with EIL and Jabal Group, each holding 1/3rd of the share capital.
In the field of Seismic Services, IOT acquired 25% equity in a Kazakhstan business, which has an established track record in 2D and 3D seismic services for onshore, transition zones and offshore.
To Read More: UTI Capital Invests R100Cr In Indian Oiltanking
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 14/12/11 |
IOT Infrastructure - UTI Capital |
Private Equity |
UTI Capital Protection Oriented Fund - Series I - 5 years plan (formerly UTI Capital Protection Fund - Series I (Five-Year Plan)) |
18.67 |
| 16/05/11 |
IOT Infrastructure - TA Associates, NSR, IDFC |
Private Equity |
IDFC Private Equity |
88.80 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 03/02/12 |
Private Equity |
Goldman Sachs Capital Partners |
Aban Offshore Limited (Aban Loyd Chiles Offshore Limited) |
4.59 |
Completed |
| 25/01/12 |
M&A |
ONGC Videsh Limited |
OAO Yamal LNG |
- |
Planned |
| 23/01/12 |
M&A |
Ocean Sparkle Limited |
Tag Offshore Limited |
79.68 |
Called Off |
| 12/01/12 |
M&A |
Oil India Limited |
Cove Energy Plc |
- |
Planned |
Company |
| Name | Promoters | Office | Competitor | Website |
| IOT Infrastructure & Energy Services Limited |
Indian Oil Corporation Limited
Oiltanking GmbH
Oiltanking India GmbH |
103 Spectra, Hiranandani Business Park, Powai. |
|
www.iotinfraenergy.com |
