EU antitrust regulators on Monday fined U.S. conglomerate General Electric 52 million euros ($58.4 million) for providing misleading information in its takeover of Danish rotor blade maker LM Wind two years ago. GE told...
Wipro Infrastructure Engineering unit buys Incite Cam Centre’s Automation Business
WIN Automation, the industrial automation business of Wipro Infrastructure Engineering, said on Tuesday it has acquired Bengaluru-based Incite Cam Centre’s Automation Business for an undisclosed sum. This, according to...
NCLT clears Sharad Sanghi’s revised resolution proposal for Jyoti Structures
Dedicated bankruptcy court National Company Law Tribunal (NCLT) approved a resolution plan for debt-laden Jyoti StructuresNSE 2.78 % for Rs 3,965 crore with about 45% haircut. A group of investors led by Sharad Sanghi...
NCLAT sets aside Jyoti Structures liquidation, asks considering Rs 4,000 cr plan by Sanghi, others
The National Company Law Appellate Tribunal (NCLAT) has set aside the order to liquidate Jyoti Structure and asked the Mumbai bench of NCLT to consider the Rs 4,000-crore resolution plan submitted by Sharad Sanghi and...
Coesia, Koerber to bid for Bosch packaging unit – sources
Italy’s engineering group Coesia and German industrial holding Koerber are preparing offers for the packaging machinery unit that German auto supplier Bosch has put on the block, people close to the matter said. Private...
Jyoti Structures not to face liquidation, NCLAT upholds ultra high-net-worth individuals’ offer
Jyoti StructuresNSE 3.23 % was saved from going into liquidation after the National Company Law Appellate Tribunal (NCLAT) directed that a resolution plan for the company put forth by a group of ultra-high-net-worth...
Singapore’s Temasek to buy stake in Danish engineering firm
Singapore state investor Temasek Holdings agreed to buy about 30 percent of Denmark’s Haldor Topsoe A/S, the companies said, in a transaction that a source said values the engineering firm at around $1.5 billion. As...
L&T prepares for hostile takeover of Mindtree
Larsen and Toubro Ltd (L&T), which has been in talks to buy Cafe Coffee Day founder V.G. Siddhartha’s stake in Mindtree Ltd, is set to sign a binding agreement to close the deal, two people directly aware of the...
GE explores stake sale in Enel renewables joint venture: sources
General Electric Co is exploring a sale of its 50 percent stake in a renewable energy joint venture with Italy’s Enel SpA, the latest deal GE CEO Lawrence Culp is pursuing to pay down debt, according to people familiar...
ABB rules out large acquisitions for near future
ABB will not be making big acquisitions in the near future, Chief Executive Ulrich Spiesshofer said on Thursday, saying money raised from the near-$8 billion gained from the sale of its power grids business will go to...
Thermax to buy partner’s stake in joint venture
Engineering major Thermax on Tuesday announced entering into a definitive agreement with Germany-based Mutares Holding-24 AG and Balcke-Duerr GmbH to acquire their shareholding in its joint venture Thermax SPX Energy...
ABB, Dassault Systèmes enter global software partnership for digital industries
Swiss power major ABB NSE 2.52 % has entered into a global partnership with French software firm Dassault Systèmes to offer customers in digital industries a unique software solutions portfolio ranging from product life...
