India’s Niva Bupa Health Insurance Company is considering a minority stake sale at a valuation of $2 billion, Bloomberg News reported on Tuesday. The company is a joint venture between British United Provident...
NCLT adjourns ZEE lenders’ matter against proposed merger to 9 March
The Mumbai bench of the National Company Law Tribunal (NCLT) on Tuesday adjourned the matter related to applications filed by certain lenders and creditors, against the proposed merger of media and entertainment company...
UBI looks to sell KSK Mahanadi, Raigarh Champa debt to ASREC
State-run Union Bank of India will likely sell its ₹2,077 crore KSK Mahanadi Power and ₹54 crore Raigarh Champa Rail Infrastructure debt to ASREC (India) Ltd, an asset reconstruction company, said three people aware of...
M&A deals jump 40 per cent to USD 163 billion in 2022, aided by USD 57-billion HDFC merger: Report
The USD 57-billion HDFC-HDFC Bank deal helped the overall merger and acquisition activity in the country rise by 40 per cent to reach USD 163 billion in 2022, a report said on Monday. Strategic deals like the one...
Billionaire Uday Kotak’s Kotak Mahindra Bank weighs insurance unit stake sale, sources say
Kotak Mahindra Bank Ltd., backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit, according to people familiar with the matter. The lender is working with an adviser on...
CCI clears acquisition of commercial real estate assets by Nexus Select Trust
The Competition Commission of India on 13 February approved the acquisition of commercial real estate assets by Nexus Select Trust. As per details, the Nexus Select Trust is a Sebi-registered real estate investment...
Merger of seven subsidiaries with Tata Steel to be completed by FY24, says CEO Narendran
The merger of 7 subsidiary companies with Tata Steel is expected to be completed in 2023-24 fiscal year, its CEO and managing director T V Narendran said. In September 2022, Tata Steel board had approved a proposal to...
Kotak acquires Sonata Finance in ₹537-crore all-cash deal
Private lender Kotak Mahindra Bank said it has acquired micro-finance company Sonata Finance for ₹537 crore in an all-cash deal. Sonata Finance will be a wholly owned subsidiary of the bank after receiving regulatory...
NCLT admits Frost International for resolution on Bank of India plea
The bankruptcy court has admitted Mumbai-based trading house Frost International under the corporate insolvency resolution process and appointed Amit Chandrakant Shah as the interim resolution professional for the...
Bankruptcy court admits Zee Learn for resolution on Yes Bank plea
The bankruptcy court allowed Yes Bank’s petition to admit Essel Group company Zee Learn for the Corporate Insolvency Resolution Process (CIRP). The detailed order of the Mumbai bench of the National Company Law...
NCLT admits application seeking CIRP against McLeod Russel India
The National Company Law Tribunal, Kolkata Bench, on Friday, admitted an application for initiating a corporate insolvency resolution process (CIRP) against McLeod Russel India, the country’s largest bulk tea producer...
Competition Commission approves NIIF’s stake purchase in Hindustan Ports
The Competition Commission of India (CCI) cleared the acquisition of stake in Hindustan Ports Pvt Ltd by National Investment and Infrastructure Fund (NIIF). The proposed transaction relates to NIIF’s acquisition...
