Infrastructure investment trust India Grid Trust said it has completed the acquisition of Virescent Renewable Energy Trust (VRET). India Grid Trust said the enterprise value is not exceeding Rs 4,000 crore, subject to...
Energy Transfer to buy Crestwood in $7.1 billion pipeline deal
U.S. energy pipeline operator Energy Transfer agreed to buy rival Crestwood Equity Partners in a deal valued at about $7.1 billion including debt. Consolidation in the oil and gas pipeline business has accelerated this...
NCLT approves NARCL’s resolution plan for two Srei group firms
The National Company Law Tribunal’s Kolkata bench has approved National Asset Reconstruction Company Ltd’s resolution plan for two Srei group companies, according to a regulatory filing. NARCL emerged as the...
ROUTE MOBILE: A Serial Acquirer gets Acquired
Route Mobile Limited (“Route” or “RML”) established in 2004 is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). RML’s portfolio...
Takeover norm violations: SAT sets aside Sebi order against Ambani brothers
The Securities Appellate Tribunal (SAT) set aside the Securities and Exchange Board of India’s April 2021 order that had imposed a penalty of ₹25 crore on Mukesh Ambani, Anil Ambani, Reliance Industries Holdings...
L&T Innovation Campus board approves merger with L&T Seawoods
The Board of Directors of L&T Innovation Campus (Chennai) Limited (LTICCL) at its meeting held on July 19, 2023, has approved a scheme of arrangement for merger of LTICCL with L&T Seawoods Limited (LTSL). LTICCL...
Belgium telecom provider Proximus to buy majority stake in India’s Route Mobile
Belgian telecom service provider Proximus Group on Monday said it will buy a 57.56% stake in Route Mobile for 59.22 billion rupees ($720.53 million). Proximus will pay 1,626.40 rupees per share of the Indian cloud...
Bharti Airtel buys 20.6% stake in Lavelle Networks, total stake will reach 45.6%
India’s leading telecom firm, Bharti Airtel has acquired additional 20.6% stake in the SD-WAN startup, Lavelle Networks. With this, Bharti Airtel’s total ownership will increase to 45.6% in the SD-WAN...
CORONA remedies buys Sanofi India’s ortho brand Myoril
Ahmedabad-based pharmaceutical company CORONA Remedies has acquired leading muscle relaxant brand Myoril from Sanofi India, for Rs234 crore. Corona has acquired Myoril (Thiocolchicoside) and its extensions such as...
HDFC-HDFC bank merger likely to be effective July 1
The merger of HDFC Corp with the country’s largest private lender HDFC Bank will likely take effect July 1, chairman of India’s mortgage-lending pioneer Deepak Parekh said Tuesday. The combined entity will...
Bupa looks to raise stake in health joint venture
UK-based healthcare services and insurance provider Bupa is in talks with domestic private equity firm True North to pick a part of the PE firm’s stake in Niva Bupa Health Insurance Co, a joint venture between the...
NCLT approves Ace Infracity resolution plan for 3C Homes
The NCLT has approved the resolution plan by Ace Infracity Developers for the debt-ridden 3C Homes. The NCLT bench observed the resolution plan submitted by Ace Infracity Developers has been approved by the Committee of...