Tag: Brookfield

Bharti Infratel, Brookfield keen to buy RCom’s tower assets, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bharti Infratel and Canadian equity fund firm Brookfield Asset Management are keen on buying the tower assets of Reliance Communications (RCom), which are expected to be put on the block after the insolvency proceedings begin, Business Standard reported, citing sources.

A Bharti Infratel spokesperson told the paper that the company is evaluating the options and is open to opportunities if there is a strategic fit.

As of now, Bharti Infratel is in the process of undergoing a reverse merger with Indus Towers and is set to be the largest player in the tower business with 1,65,000 towers. RCom has over 43,000 towers and 1,70,000 km of fibre in the country, the report said.

According to sources, Brookfield is in talks with Reliance Jio to lease out RCom’s towers, in case it wins the bid, on a long-term contract, added the report.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Leela Venture sells hospitality business to Brookfield for Rs 3,950 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hotel Leela Venture Limited (HLVL) has entered into a binding agreement with a fund sponsored by Canada’s Brookfield Asset Management to sell four hotels owned by the group in Bengaluru, Chennai, Delhi and Udaipur and a property that it owns in Agra for Rs 3,950 crore, the company said in an exchange filing on Monday.

The transaction includes assignment of all hotel management contracts currently in operation as well as all management contracts for hotels which are currently under development, along with the employees of the hotels, HLVL said.

“Simultaneously, the promoters who own the Leela brand would also be transferring the Leela brand to Brookfield for all hospitality businesses,” it said.

JM Financial Limited acted as the exclusive financial advisor to HLVL for this transaction.

“The Leela is rated amongst the top hospitality brands in the world and I am confident that the brand will receive a boost and be further strengthened and continue to be known for its world-class services,”  said Vivek Nair, chairman and managing director,  HLVL.

“We are excited with this opportunity and look forward to completing this transaction at the earliest, while ensuring that all operations remain unaffected. We expect the Leela hotels to continue to be market leaders,” said Ankur Gupta, managing director and head-India Real Estate, Brookfield Asset Management.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Canadian investor Brookfield set to buy Ambani gas pipeline, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Canada-based investor Brookfield is ready to buy East West Pipeline Ltd (EWPL) for an enterprise valuation Rs 14,000 crore,  The Economic Times reported.

The company, which was earlier known as Reliance Gas Transportation Infrastructure Ltd, has been in losses.

The investor is likely to sponsor an infrastructure investment trust (InvIT) called India Infrastructure Trust to take over the pipeline, said the report.

The Competition Commission of India (CCI) had approved the transaction last week and the investor has also filed an application with the Securities and Exchange Board of India (Sebi) for registering the InvIT, for which the approval is expected this month, sources told the paper, adding that EWPL has already filed an application with the National Company Law Tribunal for the asset transfer.

The $2 billion will be split between equity and debt and the Canadian investor is reportedly in talks with lenders such as ICICI Bank for financing.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Short term economic volatility present buying opportunities for global investors, says Brookfield CEO Bruce Flatt

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Canada-headquartered financial services giant, Brookfield Asset Management believes short-term stress offer investors the best opportunities to fund entrepreneurs and find the most viable project to bet on.

In a candid and rare interview, along the sidelines of the ‘Invest India Conference’ in Toronto, Bruce Flatt, CEO, Brookfield Asset Management tells CNBC-TV18 that India’s commercial real estate bets have worked well as the company is keen on scaling up its $6 billion India portfolio.

Edited Excerpts:

What’s your assessment of the current investment climate globally?

At Brookfield, we have a long-term outlook. We consider ourselves global investors so short-term factors do not really impact us. They are simply not relevant to our investment strategy.

Moreover, we believe certain tremors in equity, commodity or currency markets actually present opportunities for business.

Which are some of the top countries Brookfield is bullish on given today’s geopolitical scenario?

Brookfield is invested into over 35 countries across the world, and we keep assessing portfolio opportunities constantly. It does matter which country, but we do invest more wherever we see opportunity.

We study political and economic conditions in a country but are well aware that priorities and policies change for countries all the time. So instead of on basis of geography, we tend to go wherever there is need — like stress in the banking system.

Can you tell us how you perceive India as a long-term investment destination?

Brookfield is heavily invested into the large real estate story that India presents. We also hold stake in many toll road projects in the country. We believe solar and wind will be the future of energy generation there and have stake in these projects as well.

Infrastructure will continue to present the biggest opportunity in India for global investors, and like everyone else, we are always on the lookout for the most viable Infra project.

India is a very promising investment destination because the government is ready to work on transparency in laws, providing a good regulatory regime for foreign investors and has been a great experience for Brookfield so far.

But, the India rupee is at its lowest, fuel prices at their highest ever levels; What do you make of the current crude and currency volatility in Indian markets and how will this impact investment climate?

I can answer how it will affect investment for Brookfield. We believe that in the long-term, factors like crude or currency or political instability will balance out. Often these short-term uncertainties are when local entrepreneurs look to overseas funding and we see these factors as pockets of opportunity.

Looking back, what would you make of your investment picks in India?

Brookfield sees a huge opportunity in the Indian market. We have invested close to $6 billion since entering the market in 2013 and will continue to do so. Our commercial real estate bet in Gurugram has provided excellent returns on investment and we will continue to do so in cities such as Kolkata, Noida, Mumbai and others.

Meanwhile, infrastructure is also a sector that we have our eyes set on.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Brookfield looks to buy stake in Hotel Leela, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Global real estate investor Brookfield Asset Management is looking to buy stake in Hotel Leelaventure, The Times of India reported.

Canadian investor Brookfield’s talks are focussed on assuming the debt held by JM Financial Asset Reconstruction Company, the report said citing two people directly aware of the matter.

JM holds a 26 percent stake in Hotel Leela and also controls 96 percent of the restructured debt, which is estimated to be Rs 3,600 crore.

The deal with Brookfield could materialise only if there’s an agreement on the promoters’ continued economic interest and management role in the hotel chain, as per the report.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tata, Shapoorji groups eye strong portfolio of commercial properties, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Two of the country’s oldest conglomerates Tata and Shapoorji Pallonji groups are looking to build a strong portfolio of commercial properties, reported Business Standard.

The development came at a time when ‘global fund managers like Blackstone and Brookfield have pumped billions of dollars into such properties, the report said.

Tata Realty and Infrastructure (TRIL) already has properties of around 19-20 million square feet including IT parks and special economic zones, the report added. In addition, the group will likely double its portfolio in the next five years, it said.

On the other hand, the Shapoorji Pallonji group is looking to acquire projects with its partners — Germany’s Allianz and Abu Dhabi Investment Authority (ADIA), the daily said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Essar completes sale of Equinox Business Parks for Rs 2,400 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Essar Group on Tuesday said the company had concluded the sale of its commercial property, Equinox Business Parks, to Brookfield Asset Management for an enterprise value of Rs 2,400 crore.

The property, which is located in Mumbai’s Bandra-Kurla Complex, has leasable office space of about 1.25 million sq feet, and is spread over nearly 10 acres.

We will invest significant capital, introduce more F&B and modern amenities, and establish Equinox as a high-quality office destination,”  Ankur Gupta, senior vice-president at Brookfield, said.

Companies occupying the complex include ata Communications, Experian, Crompton Greaves and Lafarge.

Essar had acquired the park between 2008 and 2012, and developed the park to include facilities including a commerce centre and a club house.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow