HDFC invests in the Indus World School Chain

 HDFC agrees to pick up a stake in Indus World Schools, a chain promoted and run by Career Launcher, an education company in India

Mortgage provider Housing Development Finance Corp (HDFC) has agreed to pick up a stake in Indus World Schools, a chain promoted and run by Career Launcher (CL), a diversified education company in India. Gaja Capital Partners, a private equity firm, is an existing investor and is co-investing in this round.

Renu Sud Karnad, managing director of HDFC said "HDFC and CL have a lot to gain from this relationship and together they can make a significant positive impact on the quality of school education in the country". Gopal Jain, managing partner of Gaja shared his views on the partnership - "Education and Housing are core needs of India's emerging consumers. This partnership between two sector leaders will leverage complementary strengths to help address the huge and immediate unmet demand for K12 education from India's quality seeking consumers."

On Tuesday, HDFC ended 0.36% up at Rs632 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.67% down at 18,022.22 points.

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Birla Carbon signs agreement to acquire Columbian Chemicals

The acquisition will catapult Birla Carbon to become a leading global player

The Aditya Birla Group said that it has entered a definitive agreement to acquire the Atlanta based Columbian Chemicals Company, from One Equity Partners, the merchant banking arm of JP Morgan Chase & Co.  

The Aditya Birla Group has bought One Equity Partners' equity in Columbian Chemicals through its associates, Alexandria Carbon Black Company and Thai Carbon Black Company Ltd along with SKI Investment, an Aditya Birla Group Company.  

Kumar Mangalam Birla, chairman, Aditya Birla Group, said, "The acquisition of Columbian Chemicals catapults Birla Carbon to become a leading player globally in this sector, by raising its annual production to two million tons. This acquisition will create a business which will have the advantage of cutting edge technology and low costs, and will have a truly global footprint."

The Aditya Birla Group is one of the most cost efficient manufacturers of carbon black. Its operations span four countries, with six manufacturing plants. It caters to the requirements of leading tyre manufacturers globally. Columbian Chemicals operates 11 plants in nine countries.

The acquisition is subject to customary approvals. The deal is expected to attain closure in the second half of CY-11.

ANZ, BankAM, HSBC, RBS and StandChart are participating in the financing of the transaction and were also the financial advisors for this deal.
KPMG were our tax and accounting advisors, and Shearman & Sterling LLP, the legal counsel.

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ADF Foods Q3 net profit up 32.91% to Rs4.28 crore

ADF Foods net profit rose to Rs4.28 crore in the December 2010 quarter, compared to Rs3.22 crore over the corresponding period last year

ADF Foods Ltd has recorded a jump of 32.91% in its net profit to Rs4.28 crore in the December 2010 quarter, compared to Rs3.22 crore over the corresponding period last year.

During the same period, the income from operation has increased by 22.34% to Rs28.53 crore from Rs23.32 crore.

On Tuesday, ADF Foods ended 2.70% up at Rs55.15 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.67% down at 18,022.22 points.

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