Greenply Industries Ltd’s demerger of laminate business was approved by the Gauhati High Court on October 31, 2014, under Sections 100 to 104 and 391 to 394 of the Companies Act, 1956 between Greenply Industries Limited...
IDFC Demerges Financial Unit Into IDFC Bank
Infrastructure Development Finance Company Ltd (IDFC) on 30 October 2014, informed stock exchanges that it received the board’s approval to demerge its financial undertaking into a wholly owned step-down...
CSL Buys Novartis, Integrates It Successfully
CSL Limited has closed its transaction to acquire Novartis global influenza vaccine business for a cash consideration of US$275 million. The combined business will create the second largest influenza vaccine business in...
The Zen And Art Of Demerger
Demergers were an American invention of the 1920’s and became common since the 1950’s. The corporate demerger is one of the several ways through which a firm may divest a division and improve its focus. A...
Shasun Pharmaceuticals And Strides Arcolab Ltd Merge
Shasun Pharmaceuticals has got the approval from Madras High Court for Scheme of Amalgamation with Strides Arcolab Ltd. The Competition Commission of India (CCI) has issued its approval for the proposed merger of drug...
Cognizant Buys TriZetto
Cognizant has successfully bought Us-based TriZetto for $2.7 billion in cash primarily owned by private equity group Apax. BlueCross BlueShield of Tennessee and Cambria Health Solutions, both minority shareholders, will...
Adani Power Ramps Up Capacity
Adani Power Ltd (APL), the country’s largest private sector power generation company, has acquired Lanco Infratech’s Udupi plant for Rs 6,000 crore. The installed capacity of the plant is 1,200 MW. APL’s installed...
Strides Arcolab Buys Generic Business Of Bafna
Strides Arcolab Limited (Strides) has bought a majority stake of Bafna Pharmaceuticals Limited’s India branded generics business Raricap (enterprise value) of Rs 65 crore. Strides paid Rs 48.1 crore in cash and balance...
RBI Allows FDI In LLP
RBI welcomes Foreign Direct Investment in LLPs In a big benefit move, the Reserve Bank of India (RBI) has allowed foreign direct investment in limited liability partnerships. The LLP Act 2008 allowed foreign nationals...
Essel Publishers Merge With Zee Media
Zee Media Corporation Ltd is one of the India’s foremost multi-media companies with a strong presence in the national and regional news genre. The company was incorporated as Zee Sports Limited on August 27; 1999...
Delta Corp Puts Zing To Gaming Biz
In order to put its business on fast track, Delta Corp Limited, India’s only listed gaming company, merged its wholly owned subsidiary Delta Leisure and Entertainment Private Limited (DLEPL) in 2013. The scheme of...
Technip Divests 75% Stake In Seamec To HAL Offshore
TECHNIP a Euronext-listed entity, through its wholly owned subsidiary, Coflexip Stena (Mauritius) Offshore Limited, had entered into a binding agreement for the divestment of a majority stake of at least 51% and up to...