Abu Dhabi-based investor Avenir Investment RSC, an affiliate of International Holding Company, has agreed to purchase a 43.46% stake in Sammaan Capital for USD 1 billion, the non-bank lender said on Thursday. The...
Japan’s MUFG set sights on 20% stake in Shriram Finance for $2.6 billion
Mitsubishi UFG Financial Group (MUFG) is in advanced talks to take a 20% stake in India’s second largest non-banking finance company (NBFC), Shriram Finance, for about Rs 23,200 crore ($2.6 billion), according to...
US-based tax services provider Ryan acquires majority stake in Dhruva Advisors
The US-headquartered tax services and software provider Ryan has acquired a majority stake in the Indian tax and regulatory advisory firm Dhruva Advisors for an undisclosed amount. The transaction will pave the way for...
UK’s IPF jumps on Basepoint’s sweetened $693 million takeover proposal
Britain’s International Personal Finance said on Wednesday it received an increased 514.9 million pounds ($693.31 million) takeover proposal from U.S.-based specialty finance group Basepoint Capital, sending its...
Piramal Enterprises sets record date for merger; shareholders to get Piramal Finance shares
Piramal Enterprises (PEL) has announced September 23 as the record date for its merger with Piramal Finance (PFL). From this date, trading in PEL securities will cease, and shareholders listed in the company’s register...
NBFC Dhruva Capital announces merger with microlender Vector Finance
Non-banking financial company Dhruva Capital Services Ltd on Friday announced its strategic merger with Vector Finance, marking its entry into the microfinance business. The merger, approved by its board, will be...
Peerless to exit insurance distribution, focuses on expanding hospital biz
The Peerless Group, once a household name in financial savings, has decided to sell its financial product distribution subsidiary, while it is expanding its footprint in the healthcare sector. The group has identified a...
NCLT approves Gayatri Projects’ settlement plan from promoters
The Hyderabad bench of the National Company Law Tribunal (NCLT) has approved a ₹2,400 crore one-time settlement plan (OTS) by promoters of the engineering, procurement and construction company Gayatri Projects, pushing...
Financial services firm JTC in takeover talks with rival bidders Warburg and Permira
London-listed financial services firm JTC Plc said on Friday it was in separate talks with private equity firms Warburg and Permira after rejecting earlier buyout proposals from the two rival suitors. Shares in JTC...
ADIA exits One MobiKwik Systems; sells entire 2.1% stake for Rs 39 crore
Abu Dhabi Investment Authority (ADIA) on Monday exited One MobiKwik Systems by divesting its entire 2.10 per cent stake in the fintech firm for Rs 39 crore through an open market transaction. According to the bulk deal...
Desjardins to take Guardian Capital private in $1.21 billion deal
Canada’s Guardian Capital Group has agreed to be taken private by Desjardins Global Asset Management in a C$1.67 billion ($1.21 billion) all-cash deal, the financial services firm said on Thursday. The buyout...
Western Union to acquire Intermex for about $500 million
Money transfer company Western Union said on Sunday it will acquire Intermex, a U.S. firm that focuses on payment transfers to Latin America and the Caribbean, for about $500 million in cash. Western Union will pay $16...
