The Board of Directors of Ultratech Cements Limited & Kesoram Industries Limited at their respective board meeting have approved a composite scheme of arrangement (scheme) which envisages the demerger of the cement...
ReNewing through SPAC
In order to raise funds for expansion, Goldman Sachs promoted renewable power generation company ReNew Power will list on NASDAQ through a business combination with RMG Acquisition Corporation II (RMG II). In a public...
Will Debt Restructuring turn the TIDE for SUZLON ENERGY?
Loss making wind turbine maker Suzlon Energy has finally completed its debt restructuring. The company has met all the stiff conditions put forth by its lenders. After the restructuring, the company's term debt has been...
McNally Bharat close to reaching rescue deal
McNally Bharat Engineering Ltd (MBEL), the stressed engineering company of the Williamson Magor Group (WMG), is close to roping in an Iceland-based strategic investor to tide over the ongoing financial crisis in the...
Rattan India Amravati finds saviour in Goldman Sachs, Varde Partners
Rattan India’s Amravati power project (1,350 Mw) has concluded its debt restructuring with new lenders coming on board. Goldman Sachs and Varde Partners will take over Rs 4,050 crore of the total debt from existing...
UltraTech acquires Century Textiles’ cement business
The Board of Directors of Century Textiles and Industries Limited (Century) had approved a Scheme of Arrangement between the Century, UltraTech Cement Limited (UltraTech), and their shareholders and creditors for the...
BIRLA Group Restructuring Deal Updates
On June 1, 2017, The Hon’ble National Company Law Tribunal (“NCLT”) bench at Ahmedabad, have approved the merger of Aditya Birla Nuvo Ltd. (“ABNL”) and Grasim Industries Ltd. (“Grasim”), to be followed by the listing of...
2016 — India Inc’s year of fire sales
The year 2016 will go down in the history of India Inc for the record number of fire sales as companies struggled with stressed balance sheet and banks burdened with bad loans. For years in the past, companies across...
Abengoa unit wins U.S. court nod to join restructuring plan
A leading bankrupt subsidiary of Abengoa SA (ABG.MC) won U.S. court approval on Wednesday to join a $10 billion debt-restructuring agreement in Spain, a week before a deadline for the renewable energy firm to secure...
Maersk May Target Hanjin, Hyundai in New Acquisition Plan
A.P. Moeller-Maersk A/S’s container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea’s two biggest shipping firms, according...
Birla Group’s yet another Restructuring favoring Whom?
Aditya Birla Group always tries to expand their business inorganically. From the acquisition of cement business from L&T to the consolidation of retail business in last year, Aditya Birla group relentlessly tries to...
SBI pushing for Jyoti Structures takeover by Dubai’s Amin Group
Mumbai: State Bank of India (SBI) is pushing creditors of Jyoti Structures Ltd to accept a takeover proposal from Dubai-based Amin Group, despite knowing about a past working relationship between promoters of the two...