Finland’s Kone has agreed to acquire Germany’s TK Elevator (TKE) in a deal valued at 29.4 billion euros ($34.4 billion), creating the world’s largest lift maker. The takeover would propel Kone ahead of...
Engineering
Activist investor Engine Capital urges engineering contractor KBR to explore sale, WSJ reports
Activist investor Engine Capital has built a roughly 2% stake in KBR and is urging the engineering contractor to explore a sale, the Wall Street Journal reported on Wednesday, citing a letter from a senior executive...
Unimech signs deal to acquire Hobel Bellows for Rs 450 crore
Unimech Aerospace and Manufacturing Limited has signed a definitive agreement to acquire Hobel Bellows for Rs 450 crore. Hobel Bellows is a specialised Indian manufacturer of metallic bellows and precision-engineered...
Wipro Hydraulics to acquire majority stake in Italy’s Indeco Ind Spa
Wipro Hydraulics, a part of Wipro Infrastructure Engineering, on Thursday said it has signed a definitive agreement to acquire a majority stake in Italy-based Indeco Ind Spa. The acquisition will allow Wipro to expand...
Drone-maker AeroVironment buys aerospace engineering firm ESAero in $200 million deal
Drone maker AeroVironment said on Monday it has acquired Empirical Systems Aerospace, a producer of unmanned aircraft systems and advanced air mobility platforms, in a cash-and-stock deal valued at about $200 million...
Kone in talks to acquire rival TK Elevator, Bloomberg News reports
Finnish lift maker Kone Oyj is in talks to buy TK Elevator, which has been preparing for an initial public offering, Bloomberg News reported on Monday, citing people familiar with the matter. TK Elevator’s...
ABB open to ‘more than one’ big deal in renewed M&A drive, chairman says
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...
