On sale Tag

Corporate balance sheets are stretched and the highly leveraged companies are looking at asset sales, readying for the next phase of growth

- Lancelot Joseph

During the last few years, the biggest ever sale of Indian corporate assets has been underway and every single day ‘deal street’ is witness to the action. sample this:

At Bombay house, Tata sells corus in the uK;

The Anil Ambani led Reliance group sells 49 per cent in electricity generation and transmission in Mumbai, cement and its portfolio of road projects;

GVK sells 33 per cent of its stake in Bengaluru airport, as well as its controlling stake in Mumbai airport, besides its complete road assets;

Jindal Steel sells 49 per cent of its rail business, 5 per cent of its energy exchange and also its 3,500 mw power plant;

The ruia brothers of Essar enter into an agreement to sell a large portion of its oil business; they also sell a huge stake of the steel business;

DLF puts its mall in saket, Delhi, on block, along with 40 per cent of all its retail assets and land assets;

GMR sells its highway projects, south african coal mine, two coal mines in Indonesia, Istanbul airport, 70 per cent in a Singapore power project;

Manoj gaur run Jaypee group sells its cement assets to ultra tech and power assets to jsw energy, as also its stake in the yamuna expressway;

Lanco puts its assets in power generation in andhra on the block;

Dhoots of Videocon sell the d2h business, its telecom spectrum in six circles, as also its oil assets in mozambique;

Renuka Sugars sells its power, sugar and bio-fuels business in brazil;

Sahara group’s 86 real estate assets are put on sale; so is its 42 per cent share in formula i, the hotels (Mumbai’s sahara star, grosvenor house hotel in London, new York plaza hotel, the Dream new York hotel) and the four aeroplanes; and nearly all the assets of the onetime liquorcum-aviation baron, Vijay Mallya await takers.