KARAM Safety, a leading global Personal Protective Equipment (PPE) player and fall protection solutions provider, has acquired Midas Safety India, a prominent player in the hand protection safety products industry...
ITPCL debt restructuring: NCLAT rejects SBI’s objection on liquidation value provided by PNB
Appellate tribunal NCLAT has rejected SBI’s pleas opposing the liquidation value of ITPCL provided by the debt-ridden firm’s lead banker PNB and said the country’s largest lender cannot “wriggle...
Japan’s MUFG set to pick 20% stake in HDFC Bank arm HDB Financial for $2 bn
Bank of Tokyo-Mitsubishi UFJ (MUFG) is buying a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank at a $9-10 billion valuation, ahead of its proposed IPO, said people aware. The final decision...
Zetwerk bets big on defence, investing Rs 350 crore, to acquire European company
Contract manufacturing startup Zetwerk is betting big on the defence market and is looking to invest up to Rs 350 crore in the next few years to acquire foreign companies involved in manufacturing components for...
Rane Group to consolidate its listed operational entities
After keeping different operational listed entities for years, Rane Group, one of the key players in the Auto Ancillary space has decided to consolidate its listed operational companies under Rane (Madras) Limited. Rane...
Dalmia Group continues its journey of segregation of businesses by way of demerger
Recently Dalmia Group announced yet another restructuring of one of its group companies Dalmia Bharat Refractories Limited. After selling its core business last year to RHI Magnesita, Dalmia Bharat Refractories Limited...
Aditya Birla Capital, Aditya Birla Finance announce a Scheme of Amalgamation for creation of a large NBFC
The Boards of Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) on Monday approved the Scheme of Amalgamation (Scheme) of the two companies, to further create a large unified operating NBFC. It is to...
Indonesia’s Indosat set to launch stake sale in $1 bln fibre business, sources say
Indonesia’s Indosat Ooredoo Hutchison (IOH) is set to begin a process to sell a minority stake in its fibre business as early as March, in a deal that could value the asset at over $1 billion, said two people with...
Canal+ to make firm offer to buy remainder of S.Africa’s MultiChoice by April 8
Vivendi’s French media company Canal+ will publish a firm intention to buy shares of South African pay-TV company MultiChoice that it does not already own by no later than April 8, it said on Monday. This follows...
NCLT set to pronounce ruling on Hinduja group’s resolution plan for Reliance Capital
The bankruptcy court in Mumbai is likely to pronounce its ruling on Tuesday in an application filed by the administrator of Reliance Capital Ltd to approve the company’s acquisition by IndusInd International Holdings...
Prataap Snacks issues clarification: Yellow Diamond parent ‘not in negotiations’ with ITC for 47% stake sale
Prataap Snacks on Thursday rejected media reports that ITC is planning to buy a 47% stake in the company. The Yellow Diamond parent firm issued a clarification in which it said that it is not in any negotiations with...
Veolia agrees to buy Hungarian gas-fired power plant from Uniper
French utility Veolia has agreed to buy a 430-megawatt, gas-fired power plant in Hungary from Uniper, the companies said, marking the German group’s latest asset disposal to meet EU conditions imposed as part of...