#kkrca offers Rs 3,100 crore to buy VG Siddhartha's 20.4% stake in Mindtree, says report
Private equity company kkrca offered Rs 3,100 crore to buy the stake held by Cafe Coffee Day (CCD) founder VG Siddhartha and in Mindtree, Mint reported citing sources.
kkrca proposed the bid on Thursday and upped its previous bid, making the highest bid so far for the 20.4 percent stake held by Siddhartha and his two affiliate companies in #Mindtree, the sources told the paper.
kkrca also loosened its original terms to gain sole control of Mindtree. In the previous round, kkrca offered around Rs 2,800 crore for the stake sale.
When the paper contacted kkrca, the spokesperson said the company did not want to comment on 'market speculation'.
kkrca to buy 20% of Singtel’s datacentre arm for $800 million
kkrca & Co agreed to pay S$1.1 billion ($807 million) for a fifth of Singapore Telecommunications Ltd’s regional datacentre business, making its latest bet on Asian digital
The investment firm will have an option to raise its stake to 25 percent by 2027, it said in a statement, under a deal that puts the Singtel unit’s enterprise value at about S$5.5 billion. Singapore’s largest telecoms provider will use the #capital to bankroll an expansion across Southeast Asia and make inroads into new markets such as Malaysia.
kkrca is one of the region’s biggest investors in the server networks and piping needed to power the internet and train a new generation of AI services, demand for which is surging in the wake of OpenAI’s ChatGPT.
The private equity firm raised $3.9 billion for its first Asia-Pacific infrastructure fund around 2021, amassing one of the region’s largest pools of capital to funnel into everything from renewable energy to communication towers.
Digital activity surged during the pandemic, though internet valuations have since come down as Covid petered out. The firm’s past investments encompassed Indian electricity companies and Pinnacle Towers, the leading power producer and a telecoms operator in the Philippines.
