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...
ABB India board approves hiving off power grids business
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...
