ABB India Wednesday said its board has given ‘in principle’ approval to segregate the power grids business from its other businesses. “The Board of Directors of the Company discussed segregation of the...
Larsen & Toubro lnfotech to acquire Germany’s Nielsen+Partner for EUR 28 million
IT firm Larsen & Toubro Infotech Thursday announced acquisition of Germany’s Nielsen+Partner for EUR 28 million (approx Rs 224.15 crore). “The company, through its wholly-owned subsidiary, Larsen &...
NCLT allows Amtek Auto’s debt resolution process to start from scratch
The Chandigarh bench of the National Company Law Tribunal (NCLT) on Wednesday allowed the committee of creditors of Amtek Auto to start the resolution process from scratch, 18 months after the process was first...
Centre allows all firms to take part in strategic disinvestment of EPIL
The Cabinet modified the earlier decision of its Committee on Economic Affairs allowing all companies to take part in the strategic disinvestment of Engineering Projects (India) Limited (EPIL). In October 2016, the...
Hindalco looks to buy equity stake in a copper mine abroad
Hindalco is scouting for copper mines abroad for backward integration of its copper business with concentrates, said its managing director Satish Pai. “We won’t run them, but we may take an equity interest, and based on...
Samsung Heavy turned down offer to buy Daewoo: KDB
Samsung Heavy Industries turned down an offer to take over rival shipbuilder Daewoo Shipbuilding & Marine Engineering, the top shareholder of Daewoo said on Tuesday. State-funded Korea Development Bank (KDB), which...
EU antitrust policy under fire after Siemens-Alstom deal blocked
Siemens and Alstom’s plan to create a European rail champion collapsed on Wednesday after EU regulators blocked the deal, prompting Germany and France to call for an overhaul of EU competition policy to better meet...
Germany on Siemens/Alstom merger plan: Back stronger global competition rules
German Economy Minister Peter Altmaier said on Tuesday that he did not favor getting ministerial approval for deals such as the proposal to merge Siemens and Alstom’s rail businesses to better compete in Europe and...
GE to complete spin off of transportation unit on February 25
General Electric Co said on Monday it expects to close the merger of its transportation business with Wabtec Corp on Feb. 25 and set a record date for distribution of shares. GE announced last year that it would merge...
South Korea Shipbuilder Daewoo rallies as rival Hyundai eyes stake
South Korea’s Hyundai Heavy Industries Group is interested in buying a stake in cross-town rival Daewoo Shipbuilding & Marine Engineering Co Ltd, a Hyundai official said, sending shares of Daewoo rallying as much as...
EU reviewing last-minute concessions from Siemens and Alstom on rail deal
The European Commission is reviewing last-minute changes from Alstom and Siemens aimed at getting a green light for the planned merger of their rail activities, EU Competition Commissioner Margrethe Vestager told...
EU competition chief signals caution over Siemens-Alstom rail merger
Europe’s competition commissioner has signaled her scepticism about the merger of Siemens’s (SIEGn.DE) and Alstom’s (ALSO.PA) rail businesses by describing both companies as world champions that can compete globally...
