In a major move aimed at consolidating public sector non-banking financial companies (NBFCs), Power Finance Corporation Ltd. (PFC) has acquired 52.63% of the government’s holding in REC Limited (REC), effectively making...
PFC-REC merger gets in-principle approval
The board of Power Finance Corporation (PFC) on Friday approved an in-principle merger with REC, taking the Union Budget proposal for restructuring of two of the major public sector non-bank lenders forward. PFC already...
Reliance Consumer Products acquires majority stake in Australia’s Goodness Group
Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited, has acquired a majority stake in Australia’s ‘better-for-you’ beverage company Goodness Group Global Pty. Ltd. (GGG), marking a key...
Titan completes acquisition of 67% stake in Damas Jewellery business
Titan Company announced that Titan Holdings International FZCO, UAE (Titan Holdings), a wholly owned subsidiary of the Company, has completed the acquisition of the Damas Jewellery business in the GCC countries through...
Angola seeks 20%-30% stake in De Beers: Report
Angola is pursuing a 20%-30% stake in Anglo American’s diamond unit De Beers, a proposal being discussed with other diamond-producing African nations, a senior official from Angola’s mining ministry told...
Williams weighs buying gas-producing assets to enhance AI energy supply to hyperscalers, sources say
Williams Companies is exploring buying natural gas production in the United States, a rare foray for an energy infrastructure operator, as it aims to secure natural gas supplies to support its one-stop-shop offering to...
TPG buys majority stake in $3.5 billion power infrastructure firm Sabre Industries
Private markets firm TPG has agreed to buy a majority stake in Sabre Industries from Blackstone, the companies said on Friday, in a deal two people familiar with the matter said valued the power infrastructure company...
Morrisons explores $1.4 billion property financing deal, Sky News reports
British supermarket group Morrisons is exploring options to raise up to 1 billion pounds ($1.36 billion) secured against part of its large freehold store portfolio, Sky News reported on Friday, citing sources. The...
IDBI stake sale: Kotak Mahindra, Fairfax to submit financial bids
Prema Watsa’s Fairfax Financial and Kotak Mahindra Bank are set to submit financial bids separately for a majority stake in IDBI Bank along with supporting documents on Friday, according to people with knowledge...
Insolvency case against Alchemist recalled after ED’s intervention
The National Company Law Tribunal (NCLT), New Delhi, has recalled the Corporate Insolvency Resolution Process (CIRP) initiated against M/s Alchemist Limited, upon holding that the insolvency proceedings were vitiated by...
NCLT allows Rs. 2,500-crore class action lawsuit against Jindal Poly Films
In a rare occurrence, the National Company Law Tribunal (NCLT) has admitted a class action lawsuit filed against Jindal Poly Films by minority shareholders who approached the court claiming Rs. 2,500 crore of damages...
Bankruptcy court orders insolvency proceedings against Gurgaon-based builder
The bankruptcy court has ordered the admission of a Gurgaon-based real estate developer under the corporate insolvency resolution process (CIRP) in an application filed by IDBI Trusteeship Services after the company...
