The government has decided to close two pharma public sector undertakings and disinvest the other three, Parliament was informed on Tuesday. “The Department of Pharmaceuticals has five public sector undertakings...
11 merchant bankers in fray for managing government’s 26% stake sale in Tata Communications
As many as 11 merchant bankers, including Goldman Sachs, JM Financial and Axis Capital, are in the race for managing the sale of the government’s 26.12 per cent stake in Tata Communications Ltd. The government...
Government begins strategic sale of NINL, invites EoIs
The government has invited expression of interest for strategic divestment of Neelachal Ispat Nigam Limited (NINL) at enterprise value. The sale will include transfer of management control, mining rights and leasehold...
French government hardens stance against Carrefour takeover
France on Thursday took a tough line against any takeover of retailer Carrefour by a foreign company, dealing a major blow to a near $20 billion bid approach by Canada’s Couche-Tard. French Finance Minister Bruno...
Government not to give further extension for Air India sale
The government will not extend deadline for submission of expression of interest by interested parties for sale of Air India, but has allowed them to submit physical bids within 15 days from the deadline instead of one...
Vedanta Group puts in expression of interest to buy government stake in fuel retailer BPCL
Vedanta Resources said it submitted an expression of interest (EoI) for the government’s stake in Bharat Petroleum Corp Ltd, making it one of three likely bidders, according to people with knowledge of the matter...
Huawei to sell phone unit for $15 billion to Shenzhen government, Digital China, others – sources
Huawei plans to sell budget-brand smartphone unit Honor in a 100 billion yuan ($15.2 billion) deal to a consortium led by handset distributor Digital China and the government of its home town of Shenzhen, people with...
Analysis: Dealmakers see divided U.S. government favoring mergers and acquisitions
Joe Biden’s projected win of the U.S. presidency and the Republican Party potentially retaining control of the U.S. Senate could drive a pickup in mergers and acquisitions (M&A) that took a hit amid the COVID-19...
Flipkart-Aditya Birla Fashion proposed deal violates government’s FDI policy: CAIT
Traders’ body CAIT on Tuesday raised objections over Aditya Birla Fashion and Retail’s plans to raise Rs 1,500 crore by issuing 7.8 per cent stake to Walmart-owned Flipkart Group, alleging that the proposed...
Government to go ahead with Air India sale, may not retire debt
The government is moving ahead with Air India strategic sale and is expected to ask suitors to bid based on the combined equity and debt value, while turning down suggestions to either run the operations for next two...
Thyssenkrupp CEO: government stake one option to fix steel unit
Thyssenkrupp will consider all options, including selling a stake to the German government, in its plans to fix its ailing steel unit, Chief Executive Martina Merz said. “State participation is one option,” Merz said on...
Government looks to sweeten Air India sale deal, discusses proposals for prospective bidders
The government has decided to go ahead with the process to divest stake in Air India and is discussing proposals to further sweeten the deal for prospective bidders by allowing some relaxations along the bidding process...