Italy’s biggest builder Salini Impregilo (SALI.MI) gave the go-ahead on Tuesday to a takeover bid for stricken rival Astaldi (AST.MI), kickstarting a state-backed plan to revive the country’s moribund construction...
Srei Infra to transfer lending assets to Srei Equipment
Srei Infrastructure Finance Limited on Thursday said it has decided to consolidate all its lending business into its wholly owned subsidiary Srei Equipment. According to a statement by Srei, the proposed step, apart...
M Pallonji buys Turner Morrison building in Kala Ghoda for Rs 150 crore
In one of the rare outright transactions to be concluded in South Mumbai for an entire building, M Pallonji Group has bought Turner Morrison Building in Fort’s Kala Ghoda locality, said two persons with direct knowledge...
Standard Industries, private equity vie for BASF construction chemicals: sources
Building materials maker Standard Industries and several private equity groups are vying for BASF’s construction chemicals business, which the German chemicals group has put on the block to focus on more profitable...
Suraksha ARC and JM Financial invest Rs 2,000 crore in Unitech
Real estate investment company Unitech group secured a Rs 2,000-crore investment from two asset reconstruction companies to complete pending projects and is scouting for more investors for additional funding as the date...
Jaypee Infratech creditors meet to take stock of insolvency process
Debt-ridden realty firm Jaypee Infratech’s creditors, which include banks and homebuyers, Thursday met to assess the progress of the ongoing insolvency proceedings and decide the future course of action. According...
Lenders can vote against NBCC proposal to acquire Jaypee Infratech, rules NCLAT
The National Company Law Appellate Tribunal (NCLAT) has said that lenders can vote against state-owned construction firm NBCC’s proposal to acquire debt-ridden Jaypee Infratech and directed for the completion of...
NCLT orders initiation of insolvency process against Chennai-based Marg Ltd
The Chennai Bench of the National Company Law Tribunal (NCLT) has ordered the initiation of Corporate Insolvency Resolution Process (CIRP) against Chennai-based Marg Ltd on a petition filed by ICICI Bank Ltd. According...
Adani makes non-binding bid for Jaypee Infra; ready to infuse Rs 1,700 cr
Business conglomerate Adani group has made an unsolicited and non-binding bid to acquire Jaypee Infratech and is ready to infuse up to Rs 1,700 crore to expedite the construction of stuck housing projects of the debt...
Jaypee creditors to put NBCC’s revised bid on vote today
Debt-hit Jaypee Infratech’s Committee of Creditors (CoC), in a meeting held on Thursday, have decided to put the revised bid of state-run NBCC NSE -0.86 % (India) to acquire the realty developer on vote from Friday...
Jaypee Infra insolvency: Lenders put 5 conditions to NBCC for considering bid
Lenders of Jaypee Infratech have asked state-owned NBCCNSE 0.48 % to sweeten its bid to acquire the debt-laden realty firm and have demanded that the public sector firm should offer 1,426 acre land instead of 950 acre...
CDPQ, others in fray to buy Ashoka Concessions
Edelweiss Infrastructure backed Sekura Roads Ltd., Cube Highways & Infrastructure and Caisse de dépôt et placement du Québec (CDPQ) are in early stages of negotiations to acquire Ashoka Concessions for an enterprise...
