With the deadline of April 1 fast approaching for the mega merger of ten public sector banks, there seems to be more odd in the way of meeting the target date as a series of regulatory approvals and clearances are still...
Intesa kicks off Italian bank consolidation with $5.3 billion bid for UBI
Intesa Sanpaolo kicked off on Monday long-awaited consolidation among Italian banks with a surprise 4.86 billion euro ($5.3 billion) takeover bid for smaller rival UBI Banca. Italy’s top retail bank said it would offer...
Further consolidation or merger of banks will depend on need: Anurag Thakur
The government is open to further consolidation of banks depending on needs, Minister of State for Finance Anurag Singh Thakur has said. Last year, the government announced mega amalgamation of 10 public...
Markets may witness consolidation in holiday-shortened week ahead, say analysts
Equity markets may witness consolidation in the holiday-shortened week ahead amid lack of major triggers, though some stock-specific action can be expected due to a rejig in Sensex constituents, analysts said. Tata...
Brazilian payments company Cielo eyes consolidation deals
Brazil’s Cielo SA is considering potential mergers and acquisitions to consolidate its card-processing business, Chief Executive Paulo Caffarelli told reporters on Wednesday, ruling out reports that the company was in...
Titagarh Wagons Ltd moves ahead with consolidation of three entities
TITAGARH Group is a leader in manufacturing of heavy engineering equipment, like freight wagons, railway castings – bogies and couplers. The group is operated in India and Europe through several subsidiaries and joint...
Distressed asset acquisitions, consolidation behind large M&A transactions
Large deals or those worth more than $250 million each have seen a sharp increase in value terms since 2015, Bain & Co. said in its India M&A Report 2019. Between January 2015 to April 2019, 60 large deals worth...
NCLT clears consolidation of 13 Videocon units’ insolvency
The National Company Law Tribunal gave the go-ahead on Thursday for consolidating the insolvency proceedings of 13 Videocon group firms into a single process. The landmark move is expected to quicken Videocon’s...
JSW keen to push consolidation in value-added steel products
JSW Steel wants to consolidate the working capital-strapped downstream or value-added steel products industry in the country through its bids for assets like Asian Colour Coated Ispat and Vardhman Industries, a senior...
Consolidation of regional rural banks on government agenda
India is eyeing a mega revamp of its regional rural banks (RRBs) and the plan includes consolidation of these lenders for better operational efficiencies in line with the government’s big rural focus. The plan...
Government mulls various options for consolidation of PSU general insurers
The government is exploring various consolidation options including merger of state-owned general insurance companies with New India AssuranceNSE 0.54 % with a view to create synergy and unlock value. The Department of...
Consolidation in telecom sector to impact tower companies: Report
The telecom industry’s move towards oligopoly will potentially impact telecom tower companies through factors like tenancy losses, a report said Tuesday. The number of telecom operators has now reduced to about...