Monday, November 29, 1999

INTERVIEW - StanChart`s PE arm sees 3-4 deals in India by yr-end

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Standard Chartered Private Equity plans to invest in three to four Indian companies by the end of this year and sees opportunities in acquisition financing in Asia's third-largest economy, a top official said on Wednesday.The private equity arm of Standard Chartered expects deal sizes and flow to increase on a recent rule that requires listed firms to have a public float of at least 25 percent, said Nainesh Jaisingh, managing director of the India unit."I would be surprised if we did anything less than three to four more deals. We have got a lot in the pipeline," Jaisingh told Reuters in an interview. "We are really positive about the country's economic outlook and the prospects for Indian businesses."Standard Chartered Private Equity manages about $2 billion in assets in Asia.It started operations in India in 2004 and has put roughly $500 million in 12 firms such as engineering firm Punj Lloyd and banking software maker iflex solutions, which was bought by Oracle and has been renamed Oracle Financial Services.(Reporting by Sumeet Chatterjee; Editing by Unnikrishnan Nair)(For more business news on Reuters India click
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