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...
Cobham to be acquired by Advent International: FT
British engineer Cobham Plc (COB.L) is to be acquired by U.S. private equity firm Advent International in a deal that would value it at about 4 billion pounds ($4.99 billion) including debt, the Financial Times...
Sterlite Power, Welspun, IARC, others bid for Punj Lloyd
Bankrupt engineering company Punj Lloyd has received initial bids from both strategic players and asset reconstruction companies, including Sterlite Power, Welspun Enterprises, International Asset Reconstruction Company...
Cummins makes offer for VW’s large engines unit: sources
United States-based diesel engines maker Cummins (CMI.N) has made an indicative offer for Volkswagen’s (VOWG_p.DE) MAN Energy Solutions unit, people close to the matter said, as the carmaker seeks to slim down its...
Finland’s Metso merges minerals technology arm with Outotec
Finnish engineering group Metso is merging its main minerals technology business with smaller rival Outotec, Metso said on Thursday, sending shares in both companies higher. Outotec shares were up 19 percent, and...
Varroc in talks with Sintex to buy automotive moulding unit
Aurangabad-based Varroc EngineeringNSE 0.23 % is in advanced talks with Sintex Plastic Technology to acquire the latter’s domestic automotive custom moulding business, according to several people familiar with the...
