ABB is stepping up its acquisition drive and is open to pursuing more than one multi-billion dollar transaction, Chairman Peter Voser told Reuters, as the Swiss engineering group looks to speed up growth after years...
ADM Group buys controlling stake in Thailand’s CCS Advance Tech
Pune-based ADM Group, a diversified manufacturing and engineering firm has acquired a controlling stake in Bangkok-headquartered CCS Advance Tech Co. Ltd for an undisclosed amount, the company said in a release. The...
Hillhouse buys minority stake in Carlyle-backed Quest Global at $4.5b valuation
Singapore-based Hillhouse Investment has acquired a minority stake in Carlyle-backed engineering services provider Quest Global. The companies did not disclose the size of the stake and deal value, in a joint statement...
Govt launches OFS to divest up to 5% in BHEL
The government has launched an Offer for Sale (OFS) to sell up to a 5% stake in Bharat Heavy Electricals (BHEL). Under the offer, the Centre will first sell a 3% stake, with an option to sell an additional 2% if the...
CKA Birla Group’s NBC Bearings enters advanced drone tech space, acquires 30% stake in Ahamani India
National Engineering Industries Ltd. (NBC Bearings), the flagship engineering company of the multi-billion-dollar CKA Birla Group and Ahamani EV Technology India Pvt. Ltd. (“Ahamani India”), the Indian...
L&T to acquire Sapura’s 40% stake in offshore shipping JV for Rs 122.4 crore
Engineering major Larsen & Toubro (L&T) on Monday said it will acquire the remaining 40% stake in L&T Sapura Shipping Private Limited (LTSSPL) from Sapura Nautical Power Pte Ltd for Rs 122.4 crore, making...
Novonor denies progress in talks regarding its controlling stake in Braskem
Brazilian engineering group Novonor has made no “material progress” in talks regarding a potential sale of its controlling stake in petrochemical firm Braskem, the latter said in a filing on Tuesday, citing...
SoftBank to acquire ABB’s $5.4 bn robotics arm, boosting global AI push
SoftBank Group on Wednesday announced it will acquire ABB’s robotics division, a Swiss company, for about $5.4 billion, Nikkei Asia reported. The move marks a major step in founder Masayoshi Son’s push into artificial...
Tega Industries and Apollo Funds to buy Molycop for $1.5 bn
Tega Industries has agreed to acquire control of Omaha-based mining equipment maker Molycop at an enterprise valuation of $1.5 billion. The Kolkata-based manufacturer of mining and mineral processing gears will acquire...
Reliance Infra to sell Pune Satara toll road project to Cube Highways and Infrastructure III for Rs 2000 c
Cube Highways and Infrastructure III Pte Ltd. (Cube Highways), a Singapore-based company, will acquire a 100% stake in Reliance Infrastructure Limited’s (Reliance Infra) Pune Satara Toll Road (PSTR) project, Reliance...
CCI approves Carlyle Group’s stake purchase in Quest Global, other key deals
The Competition Commission of India (CCI) on Tuesday said it has approved four proposals, including the acquisition of a stake in engineering services provider Quest Global Services by a Carlyle Group entity and Bequest...
Foseco in talks to acquire Morganite Crucible
Foseco is in talks to acquire Morganite Crucible in a cash and stock deal, according to sources aware of the matter. ET could not ascertain the value of the deal. The deal if it concludes will bring together the Indian...
