Finland’s Valmet has approached valves maker Neles with a merger proposal, challenging a $2 billion bid that Neles’ board recommended from Swedish engineering group Alfa Laval in July. Valmet, Neles’ largest...
Bosch picks up 26% stake in SUN Mobility
German automotive component manufacturer Bosch has picked up a 26% stake in the Bangalore-based electric vehicle (EV) focused firm SUN Mobility, it said on Friday. In an official statement issued by Bosch, it said its...
Siemens sells mechanical drives business to Siemens AG subsidiary
Siemens’ board of directors have approved to sell the company’s mechanical drives (MD) business to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG. “The...
Siemens’ acquisition of C&S Electric India operations gets CCI approval
Fair trade regulator Competition Commission of India (CCI) on Thursday said it approved the proposed acquisition of C&S Electric by Siemens. As per a statement issued by Siemens in January, it had inked an agreement...
Sulzer buys Swiss-German device maker Haselmeier for $118 million
Sulzer said on Monday it would buy Swiss-German drug delivery device maker Haselmeier for an enterprise value of 100 million euros ($118 million) to boost its applicator systems business that has been hurt by a slump...
German group Allgeier SE’s iQuest and Nagarro merge operations in Romania
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...
