The Competition Commission of India (CCI) has given its approval for Sajjan Jindal-promoted JSW Group’s proposed acquisition of up to 38 per cent stake in MG Motor India. “The Acquirer is a newly...
Volvo eyes sale of Arquus to John Cockerill, takes $87 mln hit
Sweden’s Volvo said it had signed an option agreement to sell its Arquus defence unit to John Cockerill Defense, and would book a fourth-quarter operating loss from the deal of some 900 million Swedish crowns ($87...
Bahrain’s Mumtalakat says McLaren shareholders approve full recapitalisation
Bahrain’s sovereign wealth fund Mumtalakat said that luxury automaker McLaren Group’s shareholders have approved a full recapitalisation of the group. The recapitalisation will introduce a simplified share...
Hero MotoCorp to buy additional 3% stake in Ather Energy for up to ₹140 crore
Hero MotoCorp announced that it will purchase of additional shares of Ather Energy Pvt. Ltd., an associate company, from an existing shareholder. Ather, an existing Associate company of Hero MotoCorp Limited (HMCL), is...
Toyota to sell entire stake in Japan’s Harmonic Drive Systems – filing
Harmonic Drive Systems, a Japanese maker of speed reducers, said on Wednesday that Toyota Motor will sell its entire stake in the company in the open market overseas. The move could fan hopes among investors that Toyota...
Luxor Capital buys UK assets of bankrupt electric truck maker Volta Trucks
The UK business and assets of Volta Trucks have been sold to a new unit of hedge fund Luxor Capital, which had invested heavily in the electric truck maker, the bankrupt company’s administrators said on Friday...
JSW Group to acquire 35% stake in MG Motor India
Sajjan Jindal-promoted JSW Group inked an agreement with China’s SAIC Motor to acquire 35% stake in Indian subsidiary MG Motor India to jointly run automobile operations in the country. As per the agreement reached...
Maruti gets nod from shareholders to fully acquire Suzuki Motor Gujarat
Maruti Suzuki India on Saturday said its shareholders have approved the proposal to issue shares on a preferential basis to Suzuki Motor Corporation (SMC) as consideration for a related party transaction for the...
Truckmaker Volvo to buy Proterra’s battery business for $210 mln
Swedish truckmaker Volvo said it had won an auction for the battery business of troubled Proterra in the United States with a $210 million bid. The auction was part of the electric vehicle part supplier’s ongoing...
TVS Srichakra to acquire SG Acquisition Corporation for USD 3 mn
TVS Srichakra Ltd said it will fully acquire US-based SG Acquisition Corporation for USD 3 million (nearly Rs 25 crore) to take over Super Grip Corporation, an off-highway tyre maker. The company has made an investment...
Tata Motors to acquire 27% stake in logistics startup Freight Tiger for Rs 150 crore
Tata Motors Ltd said it will buy a 26.79% stake in digital logistics solutions platform Freight Tiger for Rs 150 crore, with an additional investment of Rs 100 crore planned over the next two years. Freight Tiger...
Maruti Suzuki to fully acquire Gujarat car unit in $1.54 bn share-swap deal
Maruti Suzuki India Ltd (MSIL), the country’s largest carmaker, on Tuesday said that it will issue shares worth ₹12,841 crore ($1.54 billion) to its parent Suzuki Motor Corp. to fully acquire Suzuki Motor Gujarat...
