The government is set to divest its shareholdings in defence PSUs, Garden Reach Shipbuilders & Engineers Ltd and Mishra Dhatu Nigam Ltd (MIDHANI). It will also divest its shareholding in BEML Limited, said Shripad...
Adani completes purchase of 23.5% stake in Mumbai International Airport
Adani Group has completed the purchase of 23.5 per cent stake in Mumbai International Airport (MIAL) from two South African entities, marking the first step towards acquiring a majority control in the country’s second...
Consolidation in public sector oil firms may be back on table in FY22
After a gap of more than two years, the government may again revive the plan for further consolidation in the public sector oil companies by allowing mergers between producing, marketing, gas transportation and...
Future moves HC against order to maintain status quo on Reliance deal
Kishore Biyani-led Future Retail moved the Delhi High Court on Wednesday against its single judge order directing the company to maintain status quo on its Rs 24,713 crore deal with Reliance Retail, which has been...
UPL, TeleSense tie up for tech solutions on commodity storage, transport
Agro-chemical firm UPL Ltd on Wednesday announced a strategic collaboration with US-based internet of things (IoT) innovator TeleSense to revolutionise post-harvest grain storage and transport. In a statement, UPL said...
TVS Motor to invest additional $1 mn in US-based Altizon via Singapore arm
TVS Motor Company Limited (TVSM) to invest $1 million in US-based Altizon Inc. The investment will be done through the company’s subsidiary TVS Motor Singapore. Under the deal, 212,220 Series A Preferred stock...
Public sector banks in turmoil after mega merger: Parliament panel
The mega merger of public sector banks (PSBs) has led to a “turmoil” as the state-owned banks do not have the necessary talent for specialised functions like risk management and new financial technologies, the...
M&A costs to go up after Budget 2021 axes tax depreciation on goodwill
The merger and acquisitions (M&A) transactions are set to become costlier after the Budget announced on Monday proposed that goodwill (including existing goodwill) will not be eligible for tax depreciation. The...
LIC IPO post Oct; BPCL, Air India stake sale by Sept: Divestment official
The initial public offering (IPO) of India’s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government’s divestment calendar that includes...
AM/NS buys Essar Steel’s CPP under Sarfaesi, says lenders will recover 85%
ArcelorMittal Nippon Steel India (AM/NS India) has acquired a captive power plant of Essar Steel, Essar Power Orissa Limited (EPORL), under the Securitisation and Reconstruction of Financial Assets and Enforcement of...
Exxon, Chevron CEOs discussed merger in early 2020, talks no longer active
The chief executives of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest U.S. oil producers in what would have been the biggest merger of all time, according to...
Happiest Minds acquires Pimcore Global Services for $8.25 million
Happiest Minds Technologies Ltd will acquire US-based Pimcore Global Services for USD 8.25 million (about Rs 60 crore). Houston-based Pimcore Global Services is a digital e-commerce and data management solutions company...
