Hero Electronix, backed by Suman Kant Munjal, is planning to sell a 25-30% stake in Bengaluru-based semiconductor design and engineering company Tessolve, cashing in on the growing investor appetite in the space, said...
NCLT directs to initiate insolvency proceedings against Syska LED Lights
The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Syska LED Lights, admitting the plea filed by its operational creditor — Sunstar Industries. Syska LED Lights, part...
LG Display agrees sale of Chinese LCD plant for $1.5 bln
South Korea’s LG Display said on Thursday it had agreed to sell its stake in its large liquid crystal display (LCD) plant in Guangzhou, China, to TCL’s LCD unit CSOT for 10.8 billion yuan ($1.54 billion)...
Nippo-maker Indo National sells entire 51% stake in Kineco for Rs 220 cr
Chennai-based Indo National Ltd, the manufacturer of consumer electrical brand Nippo, Tuesday said it has divested its entire 51% stake in composites maker Kineco Ltd for Rs 220 crore. Indo National said in a statement...
SoftBank in talks to invest in Sharp but feasibility unclear, Kyodo reports
Japanese telecom company SoftBank Corp is in talks to invest about 100 billion yen ($684 million) in electronics maker Sharp Corp, but the feasibility of the deal remains unclear, Kyodo news agency reported on Thursday...
LIC decreases stake by 2 percent in air conditioners giant Voltas
Life Insurance Corporation of India (LIC) decreased its equity stake shareholding in Voltas from 22,685,279 shares to 15,731,283 shares or from 6.856 per cent paid up capital of the company to 4.754 per cent — a drop of...
Samsung agrees to acquire British startup Oxford Semantic for AI
Samsung Electronics said on Thursday it agreed to acquire Oxford Semantic Technologies, a British startup specialising in technology that can be used for more sophisticated artificial intelligence (AI) applications...
NCLT admits personal insolvency plea against Rajkumar Dhoot of Videocon
The National Company Law Tribunal (NCLT) in Mumbai has admitted the State Bank of India’s application to initiate personal insolvency resolution proceedings against Rajkumar Nandlal Dhoot, promoter & co-owner of the...
Samsung Medison buys AI software firm Sonio SAS for $92 million
South Korea’s Samsung Medison said on Wednesday it is acquiring all of France’s Sonio SAS, a fetal ultrasound artificial intelligence software company for about 126 billion won ($92.4 million). Samsung...
Dixon to buy majority stake in Transsion manufacturing unit
India’s leading contract maker Dixon Technologies has said it plans to buy a majority stake in Ismartu India, a manufacturing unit of Chinese phone maker Transsion Holdings, to expand its business. Dixon will initially...
Tata Group in talks to acquire majority stake in Pegatron’s Chennai iPhone factory
Contract manufacturer Pegatron is in advanced talks to sell a majority stake in its iPhone manufacturing unit near Chennai to Tata Group, people aware of the matter told ET. “The deal is expected to be completed in the...
Whirlpool likely to sell 24% stake in its Indian unit via block deal
Whirlpool of India Ltd’s promoter, Whirlpool Mauritius Ltd, will sell 24% stake worth $451 million ( ₹3,745 crore) in the Indian appliance maker through a block deal on Tuesday, as per a term sheet reviewed by Mint. The...
