U.S. manufacturer Regal Rexnord Corp will buy rival Altra Industrial Motion Corp in a $5 billion deal including debt, it said on Thursday, bolstering its automation business amid red-hot demand due to a worker shortage...
Sojitz Corp sells 2.83% stake in Samvardhana Motherson for Rs 825 crore
Sojitz Corporation on Tuesday divested 2.83 per cent stake in auto component major Samvardhana Motherson International for Rs 825 crore through an open market transaction. According to the bulk deal data available with...
Veritas Capital to buy Carlyle’s Chromalloy for $1.6 bln – sources
Private equity firm Veritas Capital Fund Management LLC has agreed to buy aircraft parts manufacturer Chromalloy Gas Turbine LLC from Carlyle Group Inc for more than $1.6 billion, including debt, according to people...
RBL Bank offloads over 12% stake in Kilburn Engg since May for Rs 17 cr
RBL Bank said it has offloaded over 12 per cent stake in Kilburn Engineering since May for a total consideration of over Rs 17 crore. The private sector lender had acquired 67,50,000 equity shares of Kilburn Engineering...
Zetwerk acquires 3 firms for ₹100 cr to strengthen industrial business
Global manufacturing network, Zetwerk has acquired three companies to strengthen its industrial vertical business in the segment of oil and gas, aerospace, defence, and infrastructure components. The transaction is...
Siemens Board Okays Large Drives Applications Biz Sale To Siemens Ag Arm
Siemens Ltd.’s Board has approved the sale of large drives applications business to a subsidiary of Siemens AG for ₹440 crore. “Following a valuation done by an external independent valuer, the LDA business was...
Lenders restructure Jain Irrigation’s debt worth Rs 3,878 cr
Lenders led by State Bank of India to ailing Jain Irrigation Systems Ltd (JISL) have completed restructuring of debt worth Rs 3,878 crore. The debt recast covered aspect like converting about 40 per cent of the total...
Hyundai, Daewoo tie-up gets EU antitrust veto
Hyundai Heavy Industries proposed takeover of rival Daewoo Shipbuilding & Marine Engineering Co Ltd to create the world’s biggest shipbuilder was hit with an EU veto on Thursday on concerns that the deal would...
Polymer maker Kraton explores sale of the company -sources
Kraton Corp, a U.S. manufacturer of polymers used in adhesives, coatings and personal care products, is exploring options that include a potential sale of the company, people familiar with the matter said on Tuesday...
EU sets July 2 deadline for decision on Cargotec-Konecranes deal
EU antitrust regulators will decide by July 2 whether to clear the merger of Finnish engineering company Konecranes and cargo handling machinery maker Cargotec. The companies, which announced the deal in October last...
Patni family office, Baring Private Equity to invest Rs76 cr in PG Electroplast
The board of PG Electroplast Limited (PGEL) at its meeting held on Tuesday approved raising ₹76.6 crore through compulsorily convertible debentures (CCD) and preferential allotment of equity shares, the company said in...
China’s XCMG says agreed with Tsingshan Group to invest in $843 million new energy project
Xuzhou Construction Machinery Group Co Ltd (XCMG) said it has agreed with Tsingshan Holding Group Co Ltd to invest in a 5.5 billion yuan ($843 million) new energy vehicle (NEV) project in the eastern Chinese city of...