Sweden’s SKF, the world’s biggest maker of industrial bearings, on Tuesday said it had agreed to divest its linear and actuation technology business to investment firm Triton for 2.75 billion crowns ($314 million). The...
General Electric to spin off healthcare unit, divest Baker Hughes stake
General Electric Co said on Tuesday it will spin off its healthcare business and divest its stake in oil-services company Baker Hughes, leaving the once-sprawling conglomerate focused on jet engines, power plants, and...
Austria’s Andritz buys U.S. firm Xerium for $833 million in cash
Austrian engineering group Andritz (ANDR.VI) has agreed to buy Xerium Technologies (XRM.N), a supplier of paper industry products, in a $833 million cash deal that helps diversify its offerings. The move will enable...
Varroc Engineering IPO to launch on 26 June
Auto component maker Varroc Engineering Ltd on Tuesday said it will launch its Rs 1,955 crore initial public offering (IPO) on 26 June. Varroc Engineering, backed by Tata Opportunities Fund, has fixed a price band of Rs...
Siemens CEO dismisses report of large turbines unit sell-off
Siemens (SIEGn.DE) Chief Executive Joe Kaeser dismissed a report the German engineering company was considering selling off its struggling large turbines business as “media speculation” on Tuesday. The Munich-based...
ICICI Bank’s insolvency plea may not be admitted by NCLT: Punj Lloyd
Engineering and construction firm Punj LloydNSE 2.36 % today expressed hope that the insolvency plea against the company by ICICI BankNSE 0.79 % would not be admitted by the National Company Law Tribunal (NCLT)...
Govt to sell 12% stake in RITES through IPO
State-owned engineering consultancy RITES Ltd on Tuesday said that it will launch its ₹466.2 crore initial public offering (IPO) on 20 June. The sale will close on 22 June. The company has set a price band of ₹180-185...
Sansera Engineering looks to raise up to Rs1,000 crore via IPO
Bengaluru-based auto-component maker Sansera Engineering Pvt. Ltd has started a process to appoint investment bankers for its initial public offering (IPO) that could see the company raise around Rs750-1,000 crore, said...
Harsha Engineers plans Rs500 crore share sale
Harsha Engineers Ltd, which makes ball bearing cages, has started work on an initial public offering (IPO) which could see the manufacturer raise as much as Rs500 crore, three people aware of the development said. The...
Schneider deal done, L&T says no more non-core divestment on the cards
For engineering conglomerate Larsen & Toubro (L&T), the deal signed on Tuesday with Schneider may mark the end of non-core divestments for some time, according to company officials. However, analysts remain...
Schneider to buy L&T unit for Rs 14,000 crore
Schneider Electric, a global player in energy management and automation, has entered into a definitive agreement with Larsen & Toubro, a leading Indian conglomerate, to buy its electrical & automation business...
Larsen & Toubro to sell its electrical unit to Schneider for $2.1 billion
Larsen & Toubro, India’s largest engineering and construction company, has agreed to sell its electrical unit to a consortium led by Schneider Electric SE, people with knowledge of the matter said. A deal, which...
