India Digest: Flipkart eyes stake in Future Lifestyle; Adani to bid for Equis Energy assets

While Flipkart is in talks to acquire an 8-10 per cent stake in Future Lifestyle, Adani Group is partnering with Doha-based Nebras Power to bid the assets of Equis Energy.

Flipkart in talks to pick up minority stake in Future Lifestyle

Close on the heels of Amazon picking up a stake in Shoppers Stop, rival Flipkart has reportedly begun discussions to acquire an 8-10 per cent stake in Future Lifestyle Fashions Ltd, the listed fashion arm of the Future Group.

According to a report in The Economic Times quoting sources, top management of both companies met last week in Mumbai to discuss a possible deal. The talks are likely to resume in the next few days after Diwali.

Last month, Amazon had announced the acquisition of 5 per cent equity in Shoppers Stop for $27 million.

Future Lifestyle is one of the largest branded apparel retailers in India. It also owns department stores such as Central and Brand Factory and niche formats like Planet Sports.

Adani partners with Nebras Power to bid for Equis Energy assets

Adani Group is keen to acquire the Indian renewable assets of Singapore-based Equis Energy, according to a report in The Economic Times quoting sources.

As per the sources quoted in the report, Adani is teaming up with Doha-based Nebras Power for the assets of Equis Energy, which has put its entire portfolio valued at about $5 billion up for sale.

Nebras Power is looking to buy Equis’ remaining assets in the Philippines, Japan, Thailand, Indonesia, Australia and Taiwan.

Many global firms have entered into partnerships to bid for Equis’ assets. These alliances include Royal Dutch Shell and Japan’s Softbank; Orix Corporation in Japan and Dutch pension fund APG; and US-based PE fund I Squared Capital, Thailand’s Electricity Generation Plc and Japan’s Mitsubishi, among others.

Also Read:

India: Amazon buys 5% equity in Shoppers Stop for $27m

Singapore’s Equis Energy said to seek binding bids for $4b power assets

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.