Tano Capital Invests $15m in ABG Motors

Friday, November 30, 2007
Tano Capital, LLC has invested $15m in Mumbai-based ABG Motors, a newly created arm of ABG Engineering & Construction, through its affiliate in a private equity transaction. ABG Motors is part of India’s largest private sector shipbuilder, ABG Shipyards, which is owned by entrepreneur Rishi Agarwal. ABG Motors applied the $15 million investment towards its $37m acquisition of Cemp, an Italian manufacturer of flameproof electric motors. ABG Motors will also use some of the proceeds to finance a manufacturing facility for Cemp in Bangalore. The Italian acquisition is partly leveraged with debt coming from Italy’s Interbanker.

The deal is unique in that Tano Capital acted both as a private equity investor and as a merchant banker. Tano Capital originated the proposal to form a private company in India to acquire Cemp, marketed the proposal to ABG Engineering and invested $15 million of its own funds in the deal.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

President Pryor Retires from ExxonMobil Chemicals

Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Finance

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

MHI Receives "Best IR Award"

Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's "Best IR Awards" presented annually by the Japan Investor Relations Association (JIRA).

Houston Port Commission Approves budget

The Fiscal Year 2015 Operating and Capital Budget was approved Thursday during a special meeting of the Port Commission of the Port of Houston Authority.   Projections

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0939 sec (11 req/sec)