In a letter to the administrator of Reliance Capital (RCap), IRDAI said it cannot undertake due diligence regarding acquisition of the distressed financial services company’s insurance business by Hinduja-owned...
Advent, CVC make joint bid for European pet food business owned by Cinven, FT reports
Private equity groups Advent International and CVC Capital have teamed up to bid for Partner in Pet Food (PPF), a maker of animal food owned by Cinven, the Financial Times reported on Sunday. The talks are ongoing...
Masimo plans to spinoff consumer business
Medical technology company Masimo Corp said on Friday it is evaluating a proposed spinoff of its consumer business, which includes its consumer health and audio products, sending shares up 13% in extended trading. The...
INOXGFL Group plans to sell majority stake in C&I business; mandates EY for sale process
INOXGFL Group has hired EY for a planned majority stake sale in its commercial and industrial (C&I) business, two people aware of the development said, a transaction with a potential equity value of around $200...
Elliott and SoftBank set to merge Italian bad loan businesses
U.S. fund Elliott Management and Japan’s SoftBank Group are set to merge their Italian bad loan businesses in a cash-and-shares deal, SoftBank-backed doValue said on Thursday, as the industry consolidates to...
Aster DM in final stage of Gulf business sale
Aster DM Healthcare on Wednesday said that the separation of its Indian and Gulf (GCC) businesses, and the proposed investment in its GCC business by an investor group led by UAE-based PE firm Fajr Capital, is in the...
UK’s Johnson Matthey to sell medical device business for $700 mln
Britain’s Johnson Matthey (JM) will sell its medical device components business to Montagu Private Equity for $700 million in cash, as part of its strategy to focus on growth units and streamline operations...
Alight to sell payroll and professional service business for up to $1.2 billion
Alight said on Wednesday it has agreed to sell its professional services and payroll outsourcing business to an affiliate of private equity firm HIG Capital for up to $1.2 billion. Shares of the benefits service...
Vedanta’s plan to demerge businesses may face hurdles from shareholders, creditors: Report
Vedanta’s plan to demerge its businesses into separate entities could face hurdles from its minority shareholders and creditors, according to a report. On September 29, the mining conglomerate announced plans to...
Eris Lifesciences acquires Biocon Biologics domestic branded formulation business for Rs 1,242 crore
Eris Lifesciences on Thursday announced the acquisition of Biocon Biologics’ India branded formulation business for Rs. 1,242 crore. Eris has also signed a 10-year supply agreement with Biocon Biologics as a part of...
Dalmia Group continues its journey of segregation of businesses by way of demerger
Recently Dalmia Group announced yet another restructuring of one of its group companies Dalmia Bharat Refractories Limited. After selling its core business last year to RHI Magnesita, Dalmia Bharat Refractories Limited...
Indonesia’s Indosat set to launch stake sale in $1 bln fibre business, sources say
Indonesia’s Indosat Ooredoo Hutchison (IOH) is set to begin a process to sell a minority stake in its fibre business as early as March, in a deal that could value the asset at over $1 billion, said two people with...