In a last-ditch attempt to stave off liquidation, the resolution professional (RP) of debt-ridden Jyoti Structures Ltd approached the bankruptcy court on 2 April—the deadline for clearing an insolvency resolution...
ATON raises stake in South Africa’s Murray & Roberts in takeover attempt
German investor ATON said on Thursday it had raised its stake in South Africa’s Murray & Roberts (MURJ.J) to 33.1 percent as it seeks to takeover the engineering and construction firm despite management opposition...
TPG Capital, Blackstone vie for Kirloskar Oil Engines
Global private equity funds Blackstone Group Lp and TPG Capital are in separate discussions to acquire a controlling stake in Kirloskar Oil Engines Ltd, two people aware of the development said. The deal is expected to...
Dhoot Transmission set to buy UK’s Parkinson Harness
Dhoot Transmission, an Indian wiring harness manufacturer, is acquiring UK-based Parkinson Harness Technology in a deal likely to be announced this week, people close to the development said. Dhoot Transmission declined...
HG Infra Engineering to launch its Rs462 crore IPO on 26 February
Jodhpur-based HG Infra Engineering Ltd on Friday said it will launch its Rs462 crore initial public offering on 26 February. HG Infra has set a price band of Rs263-270 per share for the IPO. The offer will close on 28...
Lenders may okay ultra-HNIs’ bid for Jyoti Structures
Lenders led by State Bank of IndiaBSE -1.18 % are set to approve a bid for Jyoti StructuresBSE 4.92 % by a clutch of ultra-high net worth individuals, led by Netmagic founder Sharad Sanghi, said two bankers in the know...
RInfra emerges lowest bidder for NTPC Rs 567 crore contract
Anil Ambani-led Reliance Infrastructure has emerged as the lowest bidder to bag a Rs 567 crore turnkey contract from NTPC for carrying out of Flue Gas Desulphurisation (FGD) works of its 1,500-mw power plant at Jhajjar...
Burn Standard’s readies resolution plan, looks to raise Rs 100 crore and sell land
State-owned wagon maker Burn Standard is planning to put up its land on sale to pay off about Rs 100 crore dues to creditors of about Rs 100 crore as the last ditch attempt to get out of bankruptcy proceedings. Burn...
Hyundai Heavy Industries plans to raise $1.2 billion in sale of new shares
Hyundai Heavy Industries Co., the world’s second-biggest shipbuilder, plans to raise about 1.29 trillion won ($1.2 billion) selling new shares for working capital amid shrinking orders in the global industry. The...
L&T may sell some assets by March to fund acquisition spree
Larsen and Toubro Ltd (L&T), India’s largest engineering and construction group, said it expects to sell its electrical unit and spin out its road assets trust by March 2018, a sign that funding for plans to acquire...
Naik recalls thwarting takeover bids from Ambanis & Birlas
A M Naik, the non-executive chairman of the country’s largest construction and engineering firm Larsen & Toubro (L&T), has recalled in his biography how he thwarted hostile takeover bids from the Ambanis and...
Larsen & Toubro Infotech to acquire Syncordis SA
Larsen & Toubro Infotech (LTI) today said it will acquire Luxembourg-based Syncordis SA along with its subsidiaries in France, UK, Luxembourg and India for 15 million euros (about Rs 115.28 crore). The transaction...
