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Goldman Sachs Eye Stake in Indian City Project
Goldman Sachs is planning to acquire a 33 percent stake in Nano City project, a business city project in northern India, for USD 125–150 million.
The Nano City project is being developed by Nanoworks Developers, owned by Sabeer Bhatia (the co-founder of e-mail service Hotmail) and a Haryana State Industrial and Infrastructure Development Corporation (HSIIDC). The project is a 90:10 JV between Sabeer and the Haryana government.
Goldman is in talks with Sabeer Bhatia. The amount raised by the funds will help the developers to enhance the multi-year project. The project is estimated to be developed at an investment of USD 467.2 million, of which, over USD 202 million will be used for purchasing land.
3i to Invest $30Mn in John Hardy Group to Support its Management Buyout
3i Group is investing USD 30 million to support a management buyout of John Hardy Group, a Hong Kong-based maker of high-end designer jewelry and lifestyle accessories.
3i will buy the stake from the company's founders, John and Cynthia Hardy, who are now retiring and have agreed to sell the company to the current CEO, Damien Dernoncourt, and Creative Director, Guy Bedarida. Established in 1989, John Hardy is now recognized as the second largest designer jewelry brand in its major market, the US. Its products are currently sold in all the major department stores including Neiman Marcus, Saks Fifth Avenue, and Bloomingdales.
The company is planning to introduce new collections and increase its sales in the Middle East, Russia, and Japan, where the brand already has a growing presence.
Dipika Chopra Joins Trident Capital as Venture Partner
Trident Capital, a VC firm focusing on information technology, has appointed Dipika Chopra as a venture partner. Based in New Delhi, Dipika will focus on India's domestic consumer services sector. She will be responsible for exploring opportunities in industries, such as media, technology, entertainment, retail, and healthcare.
Prior to this, she worked with Silicon Valley as the President of Clubmom Inc. In her supervision; Clubmom grew from less than 10,000 to over 1 million members.
TPG to Invest in Shanghai ChemPartner’s Stake
TPG, a private equity investment firm, is making investment in Shanghai ChemPartner Co., Ltd., a wholly owned subsidiary of ChemExplorer company Ltd.
The deal value is expected to surpass USD 30 million. ChemPartner has been approached by others interested in investing about USD 30–USD 50 million for around 20–25 percent share in the company.
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