The Directorate General of GST Intelligence (DGGI) is probing a recent deal in which Raymond sold its consumer goods business to a Godrej unit, sources aware of the matter told ET. The sources cited said the GST...
Britain’s Entain to buy U.S.-based Angstrom Sports for up to $266 mln
Ladbrokes-owner Entain agreed to acquire U.S.-based Angstrom Sports for a potential consideration of up to 203 million pounds ($266 million) as it looks to widen its footprint in the country. The acquisition of the...
Relief for M&A: Selling business, company piecemeal shouldn’t attract GST, says AAR ruling
An Authority for Advance Rulings (AAR) has held that hiving off part of a business should not attract Goods and Services Tax (GST), providing much needed clarity to several multinationals, conglomerates and private...
Merger of GST slabs likely to take longer
A plan to merge goods and services tax (GST) slabs of 12% and 18% into a single rate that will apply to most goods is expected to get delayed, while the GST compensation cess levied on items like cars may be extended...
Brazilian drugstore chain Pague Menos buys rival Extrafarma for $133 million
Brazilian drugstore chain Pague Menos agreed to acquire rival Extrafarma from industrial holding company Ultrapar for 700 million reais ($133.06 million), according to a securities filing on Tuesday. Reuters had...
New York Community Bancorp to buy Flagstar Bancorp for $2.6 billion
New York Community Bancorp Inc agreed to buy Flagstar Bancorp Inc for $2.6 billion in an all-stock deal, as U.S. regional banks look to consolidate to compete better against larger lenders in a low-interest-rate...
Brazil drugstore chain d1000 plans to raise $82 million in IPO
Brazilian drugstore chain d1000 plans to raise roughly 439.2 million reais ($82.38 million) in an initial public offering, according to a securities filing late on Thursday. The company set the IPO price range at...
Japan drugstores plan mega-merger Oct 2021: Nikkei
Japanese drugstore company Matsumoto Kiyoshi Holdings and rival Cocokara Fine Inc plan to merge in October 2021, the Nikkei financial daily reported on Friday. The two companies announced last August that they were...
Mexico’s Femsa in talks to acquire Brazilian drugstore chain DPSP – report
Mexico’s Femsa is in talks to acquire Brazilian drugstore chain DPSP, Brazilian financial blog Brazil Journal reported on Monday, citing people with knowledge of the matter. DPSP is one of Brazil’s largest drugstore...
CBIC goes to NCLT, claims Rs 4.6 crore CGST dues from Videocon
The Central Board of Indirect Taxes and Customs approached the National Company Law Tribunal (NCLT) on Tuesday, to register a claim of Rs 4.6 crore as central GST dues from the Videocon group. The board is an...
NCLAT asks Tata Steel if it would pay Bhushan Steel’s GST, income tax dues
The company law appellate tribunal on Wednesday asked Tata Steel if it will clear the statutory dues like income tax and GST of Bhushan Steel, a company it had acquired in the insolvency proceedings earlier this month...
Whole Foods calls supplier summit amid Amazon angst
Whole Foods will host a summit on Tuesday for up to 200 of its suppliers, amid anxiety about how its ongoing business revamp will play out under new owner Amazon.com AMZN.O. Amazon’s $13.7 billion purchase of Whole...