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Mergers & Acquisitions | 6 January 2012

Hochtief May Acquire Majority Stake In Coastal Projects

by Irfan Khan
 
@irfan
Germany based Hochtief AG may acquire a majority stake in Coastal Projects Ltd providing an exit to Baring PE, Sequoia Capital, Fidelity and Deutsche Bank. The three investors hold around 32% stake in the company.

According to ToI, this transaction may value the AP based construction services firm at around $500Mn and Edelweiss Capital is believed to be advising on the transaction.

Founded in 1995, Hyderabad-based Coastal projects, a civil engineering and construction firm, specialises in tunneling and underground excavation for hydro-electric, irrigation, rail, road and mining projects.

It has offices in Hyderabad, Delhi, Bangalore, Chennai and Colombo and work sites are located across the country.

It has completed 75 km of tunnelling work and at present has 250 km under execution. It is executing Border Fencing Work on both eastern and western borders of India.

Heckyl Raises $1Mn From Seedfund

According to a report on Yourstory.in, Mumbai based financial information provider - Heckyl has raised $1Mn from Seedfund.

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Tyre Maker Ceat Plans Fund Raise

Ceat Limited is planning to raise upto INR 5,000 Mn through issue of securities including Equity Shares or FCCB or ADR or GDR or fully or partly convertible debentures, NCD, preference shares convertible into equity shares or any other equity linked securities.

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