Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


May 04, 2015 11:16 PM ET

Capital Markets

Company Overview of The Chatterjee Group

Company Overview

The Chatterjee Group is a principal investment firm specializing in early stage investments. It prefers to invest in the biotechnology, technology, communications, and information technology services. The firm also invests in international infrastructure projects, financial services, real estate, software, health care, and aviation. The firm typically invests in the United States and India. The Chatterjee Group was founded in 1986 by Dr. Purnendu Chatterjee and is based in New York, New York City with an additional offfice in India..

888 Seventh Avenue

Suite 3400

New York, NY 10106-3099

United States

Founded in 1986

Phone:

212-271-1947

Fax:

212-489-2005

Key Executives for The Chatterjee Group

Chief Executive Officer and President
Founder and Chairman
Age: 64
Principal
Compensation as of Fiscal Year 2014.

The Chatterjee Group Key Developments

IOC Plans Exit From HPL Stake Sale

Indian Oil Corporation Limited (BSE:530965) has asked the state government to refund the earnest money it paid during the bidding process of Haldia Petrochemicals Limited (HPL). Indian Oil emerged as the sole bidder in October 2013 for about 40% stake owned by the state government, including the shares that have also been claimed by co-promoter Purnendu Chatterjee's The Chatterjee Group (TCG). Indian Oil holds 8.9% in HPL and paid some INR 200 million as bid earnest money. The state government put on the block 675 million shares, making up 40% equity. TCG has staked claim to 155 million shares out of this block.The government's stake would come down to 31% without this block. A division bench of Calcutta High Court has ordered that the government would have to seek its permission before transferring this chunk. TCG has 41% in HPL and also has the right of first refusal. While the timeline for matching IOC's offer of nearly INR 22 billion has ended, recent developments on the legal front forced a rethink. The IOC board had given its nod for bidding on the condition that there should be no liability on it due to the legal wrangle between the state government and TCG. IOC emerged as the sole bidder since others in the race - Reliance Industries Limited (BSE:500325); Mangalore Refinery and Petrochemicals Limited (BSE:500109); Oil and Natural Gas Corp. Ltd. (BSE:500312); GAIL (India) Limited (BSE:532155); Vedanta Resources plc (LSE:VED); Oil India Limited (BSE:533106) withdrew due to reservations over the state government's handling of the bidding process and pricing method. Executives of Reliance Industries were present on the bidding day but did not make any offer. West Bengal Industrial Development Corp has 272 million preference shares. HPL's management control would go to the company that acquires the 155 million shares on offer. TCG has the option of launching international arbitration that would be time consuming.

Indian Oil Corporation Emerges As Sole Bidder For Haldia Petrochemicals

Indian Oil Corporation Limited (BSE:530965) emerged as the sole bidder in the auction for 31% stake in Haldia Petrochemicals Limited. The absence of Reliance Industries Limited (BSE:500325) during the bidding of Haldia caused confusion in the state of West Bengal. With Reliance Industries' absence, Indian Oil had emerged as the sole bidder for the deal while The Chatterjee Group has declined the offer. Results of the bidding has not yet been disclosed as it will take 7-8 days to finalized.

Update On Haldia Petrochemicals Sale

The Chatterjee Group is yet to make an offer for 39.9% stake acquistion in Haldia Petrochemicals Limited from Bengal Government. The deadline for the offer is November 18, 2013. If Chatterjee Group fails to match the offer of INR 25.10 per share offered by Indian Oil Corporation Limited (BSE:530965), the latter will pick up the state's share, effectively wresting control of the company.

Similar Private Companies By Industry

Company Name Region
Hancock John Venture Technology Fund United States
Madison Capital Group, LLC United States
Cartoon Acquisition Inc. United States
Zealous ATS, LLC United States
Financial Broker Relations United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 12, 2014
Haldia Petrochemicals Limited
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact The Chatterjee Group, please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.