Holcim has bought Teko Mining, a Serbian-based producer of aggregates, the Swiss building materials maker said on Tuesday. Teko, which has estimated 2022 sales of 20 million euros ($20.03 million), sells 2.4 million...
RBI approves merger of HDFC Bank with parent HDFC Corp
Private lender HDFC Bank said that it has received the Reserve Bank of India’s nod for its merger with parent HDFC Corp. The bank had applied to the RBI in April this year and is expecting to complete the merger process...
SIAC dismisses Future Group’s plea to terminate arbitration proceedings
The Singapore International Arbitration Centre (SIAC) has dismissed Future Group’s plea to terminate the arbitration proceedings between the Kishore Biyani-led firm and Amazon. The order said that there is no ground for...
Shriram Group receives RBI nod for merger of financial services business
The Shriram Group has secured RBI approval for the merger of Shriram City Union Finance and Shriram Capital Ltd with Shriram Transport Finance Company in a consolidation set to create the largest retail finance NBFC in...
Flipkart plans to restructure refurbished biz ahead of IPO
Walmart Inc.-owned Flipkart plans to restructure its refurbished products business ahead of a planned US listing in 2023, said two people aware of the matter. The company is exploring partnerships with refurbished...
Brazil’s Itau Unibanco buys stake in agribusiness marketplace Orbia
Brazilian lender Itau Unibanco said on Monday it has reached a deal to acquire a 12.82% stake in the agribusiness marketplace Orbia, formally known as Rede Agro Fidelidade e Intermediacao. In its securities filing, the...
Amazon, Future dispute: SC lets arbitration resume over FRL merger
The Supreme Court on Wednesday ordered resumption of arbitral proceedings before the SIAC tribunal over Future Retail’s merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd. A bench comprising Chief...
Triveni Turbine arm to acquire 70% stake in S African firm TSE Engineering
Triveni Turbine on Wednesday said that its arm Mis Triveni Turbines DMCC has inked an agreement to acquire 70 per cent equity of TSE Engineering in South Africa for 11.9 million South African rands (around Rs. 6.17...
NCLT allows liquidator of EPC Construction to initiate arbitration against Indian Oil
A dedicated bankruptcy court has permitted the liquidator of EPC Constructions India Ltd (formerly Essar Projects) to initiate arbitration proceedings against Indian Oil Corp Ltd (IOC) to recover about Rs 1,005 crore in...
Religare Finvest lenders to move RBI for insolvency
Lenders to Religare Finvest Ltd passed a resolution early last week to request the Reserve Bank of India (RBI) to start insolvency proceedings against the finance company after the banking regulator rejected the...
EDF confirms deal to take over French nuclear turbine unit from GE
EDF confirmed it would buy a France-based nuclear turbine unit from General Electric as the state-owned utility seeks to bundle nuclear activities deemed as strategic in France’s new push for multi-billion...
D-Orbit to go public in U.S. via $1.28 billion SPAC deal
Italian space logistics firm D-Orbit said on Thursday it will go public in the United States through a merger with a blank-check firm in a deal valuing the company at $1.28 billion, including debt. The deal with Breeze...