Reliance Communications will sell telecom assets, including spectrum, towers and fibre, worth 25,000 crore by March 2018 to pre-pay lenders and exit the ongoing strategic debt restructuring (SDR) programme...
Banks reluctant to convert RCom debt to equity under SDR
Lenders to Reliance Communications Ltd (RCom) are reluctant to convert their debt into equity if the company doesn’t provide strong visibility on how it plans to reduce debt before December, three bankers aware of the...
GTL Infra goes for SDR; to merger with CNIL
GTL Infrastructure Ltd (GTL Infra) a Global Group Enterprise; was incorporated on February 4, 2004. It is a pioneer in Shared Telecom Infrastructure in India. The company is engaged in the business of providing Shared...
Banks Invoke SDR in Gammon India
In April 2016, Gammon India accepted a proposal from Thailand-based GP Group to invest Rs250 crore in its civil EPC business. The Board of Gammon India has approved the execution of the Investment Agreement. The entire...
Lack of raw materials pushes VISA Steel into SDR corner
VISA Steel announced last September that the Joint Lenders Forum had decided to invoke strategic debt restructuring (SDR) norms in accordance with the Reserve Bank of India circular dated June 8, 2015, after an earlier...
IDBI Bank stake sale may not be completed by March 2024: Govt official
The stake sale in IDBI Bank may not be completed by March 2024, a senior government official said. Department of Investment and Public Asset Monetisation (DIPAM) Secretary Tuhin Kanta Pandey said the transaction is...
Tata’s Tejas acquires majority stake in semiconductor firm Saankhya Lab
Tata Group firm Tejas Networks will acquire 64.40 per cent stake in semiconductor firm Saankhya Labs Pvt Ltd for Rs 283.94 crore in an all-cash deal. The initial acquisition of Saankhya shares is expected to close...
Myanmar junta backs Telenor unit sale after buyer M1 pairs with local firm – sources
Lebanon’s M1 Group will partner with a Myanmar firm to take over Norwegian telco Telenor’s business in the Southeast Asian country after its military junta sought a local buyer, three sources familiar with...
Self-driving truck startup Plus, Hennessy Capital pull merger on regulatory uncertainty
Self-driving truck startup Plus and blank-check company Hennessy Capital Investment Corp V have called off their merger, the companies said on Monday, citing developments in the regulatory environment outside the United...
Morrisons shareholder Schroders still mulling vote on Fortress takeover bid, CEO says
British money manager Schroders (SDR.L) is still considering how it will vote at upcoming court and shareholder meetings on Fortress Investment Group’s attempt to take over supermarket chain Morrisons (MRW.L), its...
Self-driving truck startup Plus to go public through $3.3 bln SPAC deal
Plus said on Monday it would go public through a merger with blank-check company Hennessy Capital Investment Corp. V in a deal that values the self-driving truck technology startup at $3.3 billion. The combined company...
Australia’s Perenti considers takeover of Downer mining arm
Australian mining services provider Perenti Global Ltd said on Wednesday it was considering buying Downer EDI’s mining servicing business, but dismissed a report of a A$700 million ($471 million) offer. Downer is...