Greaves Cotton today announced the completion of its acquisition of the entire shareholding of Hemalatha Annamalai in Ampere Vehicles Pvt Ltd through a secondary purchase. In the process it has taken absolute control of...
Sembcorp buys out Gayatri Projects’ 5.95% stake in its subsidiary for ₹406 cr
Sembcorp Utilities, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), has signed a non-binding term sheet with Gayatri Energy Ventures Pte Ltd (GEVPL), a wholly owned subsidiary of Gayatri Projects Limited...
Legrand India to scale up manufacturing, also open to acquisitions: CEO
French electrical equipment maker Legrand plans to scale up its manufacturing capability in India as it diversifies its presence here and scouts for acquisition opportunities with an eye on the local market potential...
Govt collects ₹729 cr from sale of 10% stake in RITES
Finance Ministry has collected ₹729.44 crore from divestment of 10% stake, or 2.5 crore equity shares, in its railway engineering consultancy company RITES Ltd through the Offer-For-Sale (OFS) route. “Government...
McNally creditor withdraws insolvency petition after out-of-NCLT settlement
Financially stressed Williamson Magor group, promoted by the Khaitan family, got a major relief on Friday as the Kolkata bench of the National Company Law Tribunal (NCLT) allowed a financial creditor to withdraw its...
L&T to buy out partner in L&T IDPL, make it fully-owned arm
Larsen & Toubro (L&T) will buy out its partner, Old Lane, in L&T Infrastructure Development Projects Limited (L&T IDPL) to convert it into a fully-owned subsidiary. The engineering giant will buy out the...
AECOM nears $2.4 billion sale of management services unit: Bloomberg
U.S. construction and engineering firm AECOM is nearing a $2.4 billion deal to sell its management services unit to a consortium of private equity firms, Bloomberg reported on Sunday. The deal to sell the unit to the...
Schneider expects to complete L&T’s electric unit acquisition by early 2020
Schneider Electric expects to complete the ₹14,000 crore acquisition of Larsen & Toubro’s electrical and automation business by early 2020, its India head Anil Chaudhry said on Wednesday. In May last...
Competition Commission clears Capgemini’s acquisition of Altran Tech
Fairtrade regulator CCI on Tuesday said it has cleared the proposed acquisition of Altran Technologies SA by Capgemini. In June 2019, Capgemini and Altran announced that they have entered into an agreement for...
GE stake sale in Triveni JV subject to outcome of dispute, rules NCLAT
The appellate insolvency tribunal ruled on Tuesday that any changes by General Electric in its shareholding of unit Baker Hughes will be subject to the outcome of a dispute with Triveni Turbines over their joint venture...
Deadline extended for Punj Lloyd bids
The deadline for submission of binding bids for stressed engineering company Punj LloydNSE 4.55 % has been extended by 10 days to August 24 because no offers were made, said a person with knowledge of the matter. Punj...
In resolution plan, McNally Bharat Engineering looks to raise fresh capital
Financially stressed McNally Bharat Engineering, a BM Khaitan Group company, has proposed a resolution plan to its lenders outside the purview of the National Company Law Tribunal (NCLT). According to the plan, McNally...
