Digital engineering and technology solutions firm Nagarro and software development company iQuest — both members of the German group Allgeier SE — on Friday announced the merger of their operations in...
Alfa Laval makes $2 billion bid for Finland’s Neles, biggest owner sceptical
Sweden’s Alfa Laval announced on Monday a 1.73 billion euro ($1.96 billion) bid for valves maker Neles NELES.HE, but the Finnish firm’s largest owner said the offer was not in the interest of the company, raising...
Alstom ready to sell assets to win EU nod for Bombardier deal – sources
French TGV high-speed train maker Alstom is prepared to sell assets to secure early EU antitrust approval for its bid for Bombardier Inc’s rail division, people familiar with the matter said. Alstom and Bombardier...
Ashok Piramal Group sells Miranda Tools to Swedish Dormer Pramet
The Ashok Piramal Group has sold its high-speed steel cutting tools business, Miranda Tools to Swedish Dormer Pramet, a division within Sandvik Machining Solutions Group for an undisclosed sum, the companies said in a...
Bankruptcy process at Indu Techzone set aside by NCLAT
The National Company Law Appellate Tribunal (NCLAT) has set aside the insolvency proceedings at Indu Techzone, providing relief to promoters led by I Syam Prasad Reddy, who is a co-accused in the disproportionate assets...
Siemens to initially keep 45% in Siemens Energy after spin-off: sources
Siemens is planning to keep a 45% stake in its energy business which the German engineering group wants to spin off later this year, two people close to the matter said on Monday. Siemens plans to give its owners one...
Siemens AG sells 24% stake in Indian unit for ₹8,520 crore to group firm
German conglomerate Siemens Aktiengesellschaft on Tuesday sold shares worth over ₹8,500 crore in its listed Indian subsidiary Siemens Ltd, amounting to about 24 per cent stake, to another group firm Siemens Gas and...
High debt will not deter Motherson Sumi from eyeing new acquisitions
Motherson Sumi Systems Ltd (MSSL), the flagship company of auto parts maker Samvardhana Motherson Group (SMG) remains focussed on new acquisitions even though the company’s debt level has increased sharply. In an...
European EPC major A&M Group enters India in JV with Oberoi Group
Leading European infra player A&M Development Group has inked a joint venture with the Delhi-based engineering and construction player Oberoi Group to enter the country. The joint venture Oberoi-A&M Infra...
L&T board approves fund raising up to Rs 9000 crore via various instruments
Engineering conglomerate Larsen & Toubro (L&T) on Thursday said the company’s board has approved fund raising plans for up to Rs 9,000 crore through various instruments, including non convertible debentures...
Japan’s Kubota to acquire 10% stake in Escorts for Rs 1,042 crore
Engineering conglomerate Escorts Friday said Japan’s Kubota Corporation will acquire 10% equity stake engineering in the firm for Rs 1042 crore. Upon completion of this transaction, Escorts and Kubota will partner and...
How Conzerv Systems and Schneider Electric managed a tricky biz of merger
Most acquisitions fail because of a cultural clash. But Conzerv Systems and Schneider Electric managed this thorny issue successfully. Hema Hattangady & Ashish Sen throw light on what worked for the two companies in...
