Reliance Industries Ltd on Wednesday said it has acquired a step-down subsidiary engaged in the manufacture of petrochemicals and hydrogen, for Rs 314.48 crore. In a stock exchange filing, the firm said Reliance...
HDFC Bank proposes to sell its subsidiary HDFC Education
HDFC Bank has decided to sell its 100 per cent stake in HDFC Education and Development Services Private Ltd. The transaction will be undertaken through the Swiss challenge method, HDFC Bank said in a regulatory filing...
Ferrovial subsidiary Cintra to acquire 24% stake in IRB Infra Trust from GIC
Transport infrastructure developer Cintra, a subsidiary of Spanish infra group Ferrovial, will acquire a 24% stake in IRB Infra Trust from GIC affiliates, IRB Infra said in a statement on Thursday. Cintra has entered...
SBI to acquire SBI CAPS subsidiary for Rs 708 cr
State Bank of India (SBI) said it will acquire SBI CAPS subsidiary for Rs 708.07 crore. SBI plans to acquire 100 per cent of SBICAPS Venture Ltd (SVL) for which all regulatory approvals are in place, the bank said in a...
NCLT admits Sahara group subsidiary into insolvency
The National Company Law Tribunal has ordered insolvency proceedings against a Sahara Group subsidiary, deciding that a dispute raised by the company against its creditor was a means to avoid paying its dues. A Mumbai...
Cipla concludes 51.18% stake sale in Ugandan subsidiary for $25 million
Cipla on Wednesday announced that it has completed the sale of its 51.18 per cent stake in Cipla Quality Chemical Industries Uganda (CQCIL) for a final consideration amount of $25 million. The transaction was finalised...
Hengli Petrochemical subsidiary eyes nearly $2 bln restructuring
Chinese independent refiner and petrochemicals producer Hengli Petrochemical has agreed to restructuring deals worth a total of up to $1.89 billion for its subsidiary Kanghui New Material Technology, filings showed on...
Suez Canal Authority to sell 20% of subsidiary in experimental offer
Egypt’s Suez Canal Authority (SCA) is offering a 20% stake in a subsidiary company in line with a government drive to boost the private sector, but selling or leasing the canal is “out of question”...
Volkswagen subsidiary MAN Energy Solutions sells gas turbine business to China’s CHGT
Volkswagen subsidiary MAN Energy Solutions said it signed an agreement to sell its gas turbine business to Chinese state-owned CSIC Longjiang GH Gas Turbine Co (GHGT), as the company phases out its fossil fuel business...
Allcargo Logistics closes 30% stake purchase from KWE in Gati subsidiary
Allcargo Logistics said it has completed the acquisition of 1.50 lakh shares, or 30% stake, in Gati-Kintetsu Express (GKEPL) for Rs 406.71 crore. Allcargo’s subsidiary, Gati already holds 70% stake in GKEPL. “With...
Crypto lender Amber mulls potential sale of Japan subsidiary
Crypto lender Amber Group is weighing options for its Japan unit, including a possible sale, and plans to apply for a Hong Kong license following the city’s pivot toward creating a digital-asset hub. The evaluation of...
Uber’s Middle East subsidiary Careem offloads 50.3% stake in super app to Emirates Telecom
A super app managed by Uber Technologies’ Middle East subsidiary Careem has offloaded a 50.3% stake to Emirates Telecommunications Group Company for $400 million, e& said in a filing. The super app will be...