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Updated: Vodafone acquires Piramal & Analjit Singh’s stakes to complete its Indian arm buyout

Update: Vodafone Group has also bought out Analjit Singh's 24.65% stake in Vodafone India for Rs 1,241 crore, reports The Economic Times. It also notes the transaction with Analjit Singh is complete and the Piramal transaction is likely to close today. With this, Vodafone Group will now own 100% stake in Vodafone India. Note that there is a significant difference in valuation between both the transactions. Vodafone India mentions this is because Singh indirectly owns this stake through several companies, some of which have significant debt. It also notes that this is in line with the agreements between both the parties which were submitted to the government in 2007 and 2009, as indicated by the report. Earlier (April 11): Piramal Enterprises has agreed to divest its entire 11% stake in Vodafone India, comprising 4.54 crore shares, to Vodafone group's indirect subsidiary Prime Metals Limited for Rs 8,900 crore at Rs 1,960 per share, the company has informed BSE (pdf). This transaction values Vodafone India at Rs 80,939.7 crore or approximately £8 billion. Piramal which has little to do with the mobile industry, has pocketed a profit of around Rs 3,036 crore from this stake sale, having previously acquired these shares for a total consideration of Rs 5,864 Cr in two tranches during FY12. This translates to about 50% return on investment in almost three years. It had initially picked up a 5.5% stake for Rs 2,856 crore in August 2011 and had later bought an additional 5.5% stake for approximately Rs 3,007 crore in February 2012. Vodafone India's Buyout…

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