A company of Anil Ambani’s Reliance Group has submitted a resolution plan for another group firm, Reliance Naval & Engineering Ltd (RNEL), at a time when lenders have begun voting on two other proposals, two...
NCLT allows liquidator of EPC Construction to initiate arbitration against Indian Oil
A dedicated bankruptcy court has permitted the liquidator of EPC Constructions India Ltd (formerly Essar Projects) to initiate arbitration proceedings against Indian Oil Corp Ltd (IOC) to recover about Rs 1,005 crore in...
Bosch acquires 26 pc stake in B2B e-commerce firm Autozilla Solutions
Leading technology and services provider Bosch on Wednesday said it has acquired a minority 26 per cent stake in B2B eCommerce auto spares, garage equipment and accessories Autozilla Solutions. The Hyderabad-based firm...
Engine maker Cummins to buy Meritor for $2.6 bln in electric parts push
U.S. truck engine maker Cummins Inc said on Tuesday it will buy auto parts maker Meritor Inc for $2.58 billion in cash, to beef up its electric and hybrid vehicle parts offerings amid a boom in demand for climate...
Spain’s ACS plans to sell renewable business Zero-E, Expansion says
Spanish engineering group ACS is planning to sell its renewable energy unit Zero-E, which could be worth 1 billion euros ($1.14 billion), Expansion newspaper reported on Thursday, citing unidentified market sources. ACS...
ABB India completes sale of Dodge Business for Rs 45 crore
ABB India on Thursday said it has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a consideration of Rs 44.58 crore. Dodge Industrial India is an affiliate of RBC...
NCLAT rejects Kotak Bank’s plea to set aside insolvency proceedings against MSEL
The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition filed by Kotak Mahindra Bank along with a director of debt-ridden McNally Sayaji Engineering Ltd (MSEL) to set aside insolvency proceedings...
General Electric to split into three public companies
General Electric Co. said it will split into three public companies, breaking apart the more than century-old company that was once a symbol of American manufacturing might and has struggled in recent years. The plan is...
Govt receives financial bids for stake in Central Electronics
After Air India, the stage is set for the strategic sale of state-run Central Electronics Ltd (CEL). The government on Tuesday received financial bids for its stake in the entity. CEL is a pioneer in the country in the...
GE announces biggest acquisition under CEO Culp
General Electric Co on Thursday announced a $1.45 billion cash deal to acquire ultrasound company BK Medical to bolster its medical imaging business, signaling a shift away from the company’s exclusive focus on...
Blackstone to pay part of exit proceeds to Sona execs
Private equity firm Blackstone is seeking shareholder approval for an exit return incentive (ERI) plan that envisages to pay a compensation of 1-4% of the proceeds that Blackstone will generate from a future sale of its...
Siemens to buy rail software company Sqills in 550 million euro deal
Siemens is buying rail software company Sqills, the German engineering and technology company said on Thursday, its latest acquisition to expand into high growth markets outside its core activities. The trains-to...
