IPTV News - Videocon’s Dhoots look to snap up IOL
Netcom owned By
Ashish Deora
The Dhoot family, the promoters of Videocon Group,
has bought 14% equity in IOL Netcom owned by Ashish deora, a
Mumbai-based broadband company, from the open market
transaction is being perceived by the industry as a take over
bid.
In the last two months, Shree Dhoot Trading & Agencies Ltd,
an investment company of the Dhoots, has mopped up 11.72%
shares in the loss-making firm, earlier known as IOL Broadband.
This is in addition to the 1.97% stake that Videocon Realty
& Infrastructure Ltd, a Videocon group company, owns in IOL
Netcom.
Sources close to the development said the Dhoots have hired an
advisor for further negotiations to gain management control of
the zero-debt company that was the first in Asia to launch
IPTV.
Videocon Group officials have met IOL Netcom president
Siddharth Srivastava to discuss areas of mutual cooperation.
However, the talks did not cover any buyout proposal.
IOC Netcom offers broadband solutions and IPTV and has set up a
200 km fibre optic network in Mumbai and Delhi. The company,
which suffered a loss of Rs 2.14 crore on revenues of Rs 2.19
crore in fiscal 2008, is about to launch its broadband services
in Mumbai.
When contacted, Mr Srivastava said that the share purchase by
Videocon is not seen as a hostile bid by Netcom, even though
there was no understanding between the two companies on the
transaction. “We have a wide range of investors with no
identifiable group of promoters. This segment is set for a boom
and may be the new investors see value in our shares,” he told
ET.
Videocon Group chairman Venugopal Dhoot was not available for
comments.
Videocon’s synergies with IOL Netcom would include joint
development of direct-to-home (DTH) content and internet
protocol TV (IPTV) platforms, supply of fibre for the broadband
business, besides alliances in marketing, retailing and
branding.
The Videocon Group is planning to launch its DTH services
across the country by the end of the year. As the DTH business
has significant strategic synergies with IOL, the Dhoots are
keen on acquiring Netcom, said an industry official familiar
with the matter.
The share price of IOL Netcom, has crashed from its peak of Rs
580 as on August 9 last year to Rs 76.50 as on Thursday on the
Bombay Stock Exchange. The sharp decline was a good opportunity
for the Dhoots to buy into the company.
The family has done similar in other companies. For instance,
the Dhoots have bought a substantial chunk of shares in
Archies, the maker of greeting cards and now looking for a
management control.
http://economictimes.indiatimes.com/Infotech/Internet_/Videocons_Dhoots_look_to_snap_up_IOL_Netcom/articleshow/3312325.cms
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Argentum Motors to manufacture commercial
vehicles and
cars
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New Delhi: Former president of Hyundai Motors
India, BVR Subbu, who is now director of
Argentum Motors said that the revival of the
Surajpur plant was almost complete and the
company is also looking at contract and joint
manufacturing of commercial vehicles and
cars.
The Surajpur facility would soon begin
producing components by the start of the next
financial year.
Argentum Motors,a company
floated by Mr.B.V.R Subbu, Ajay Singh of
Spice Jet and India Online Network's Ashish
Deora took possession of the Daewoo motor's
plant at Surajpur (Haryana). Originally set up
by Daewoo to produce engines, gear boxes and
body parts, the 210 acre facility is the third
largest automobile manufacturing factory in
India.
The facility is equipped to
produce 4 lakh engines,4 lakh gear boxes and 2
lakh car bodies at its press
shop.
Rumours regarding Argentum's
future plans with reference to partnerships for
contracts and joint manufacturing have been
doing their rounds. Subbu admitted that
Argentum Motors has been attracting the
interest of international original equipment
manufacturers and that the company is in talks
with many of
them.
There have been reports that
the French car manufacturing major, PSA Peugeot
Citroen is exploring the possibility of a
global component sourcing joint venture with
Argentum. Subbu, however, did not comment on
any specific
deals.
It has also been rumoured
that the upcoming Daimler-Hero CV venture is
believed to be looking at Argentum for its LCV
foray.
It has also been reported
that Argentum is in talks with a number of
commercial vehicle manufacturers including
Swedish truck maker Scania and DAF Trucks NV to
manufacture commercial
vehicles.
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http://machinist.in/index.php?option=com_content&task=view&id=914&Itemid=2
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Argentum Motors to Expand Capacity to Produce 0.4 Million Small
Cars
03/7/2008
Argentum Motors is set to expand its capacity for small cars to
0.4 million per annum. Argentum Motors would also start
manufacturing 1-2 litre engines to cater to the demand for
small cars. The company is creating flexibility at plant to
suit a larger range of vehicles. Existing facility, which can
produce engines in the size of 1.3-1.7 litre, is being expanded
for 1-2 litre. The company was also setting up a new paint shop
and an assembly line which would have a capacity of 0.25
million-0.3 million cars per annum at an investment of INR
5,000 million.
Argentum Motors to Infuse $126 Million in Indian Daewoo
Facility
12/26/2007
Argentum Motors will infuse INR 5 billion ( $126.8 million) to
modernise the facility over the next 18 months as it gears up
to host global commercial vehicle maker Daimler for the
latter's proposed Low Cost Vehicle (LCV) roll
out.
http://investing.businessweek.com/businessweek/research/stocks/private/snapshot.asp?privcapId=20407418
Argentum to expand capacity to produce 4 lakh small
cars
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Co also setting up new paint shop, assembly
line at Rs 500-cr investment
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New Delhi, March 7 In a short span after Argentum Motors
acquired the production facility of erstwhile Daewoo Motors,
the company is set to expand its capacity for small cars to 4
lakh per annum. Argentum Motors would also start manufacturing
1-2 litre engines to cater to the demand for small
cars.
The company is promoted by former Hyundai President Mr B. V. R
Subbu; Director promoter of SpiceJet Mr Ajay Singh; and Mr
Ashish Deora.
http://www.thehindubusinessline.com/2008/03/08/stories/2008030850730300.htm
Argentum plans R&D hub for global product development
work
Argentum Motors, the company formed after taking over the
erstwhile facility of Daewoo Motors, has a game plan beyond
just contract manufacturing of cars and commercial
vehicles.
Promoted by the former Hyundai President, Mr B.V.R. Subbu,
Director Promoter of SpiceJet, Mr Ajay Singh, and Mr Ashish
Deora, Argentum plans to turn the existing R&D facility in
the premises into a hub for global product development work. It
is planning to offer the unit to global car makers who are
seeking to drive down costs in their home countries.
http://www.thehindubusinessline.com/2008/03/21/stories/2008032151150300.htm
Auto majors eye sourcing pact
with Argentum owned by Ashish Deora and Team
MUMBAI: A couple of
European and Asian auto majors including Peugeot-Citroen
of France are in talks with Argentum Motors to manufacture
components and cars, it is reliably learnt.
Argentum is
also planning to invest around Rs 500 crore to upgrade the
facility. The three promoters of the company will eventually
hold around 12% in the company after the debt is converted into
equity and fresh investors are roped in.
“This capacity
will attract a large number of global auto manufacturers as the
company has all the building blocks for integrated car and
component manufacturing,” said an analyst of a Mumbai-based
brokerage.
http://economictimes.indiatimes.com/News/News_By_Industry/Auto/Auto_Components/Auto_majors_eye_sourcing_pact_with_Argentum/rssarticleshow/2762786.cms
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