In a first-of-its-kind partnership between a quick service restaurant and a fast-moving consumer goods company, Jubilant FoodWorks, the master franchisee of the Domino’s brand in India, is partnering with ITC to deliver...
Novartis scraps sale of assets including Covid-19 drug to Aurobindo Pharma
Novartis AG on Thursday scrapped the $1 billion sale of US generic pill and skin drug assets to India’s Aurobindo Pharma Ltd as regulators balked, setting back the Swiss drugmaker’s shift to more profitable...
Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders
Indian Bank has on Wednesday allotted 520.56 million equity shares of face value of Rs 10 each at approved Share Exchange Ratio to the equity shareholders of Allahabad Bank following the amalgamation of Allahabad Bank...
Australian competition regulator approves Asahi-AB Inbev deal worth $11 bn
Australia’s competition regulator said on Wednesday it will not oppose Asahi Group Holdings Ltd buying Anheuser Busch InBev’s domestic operations for $11 billion, after the Japanese firm agreed to sell some...
Xerox abandons $35 bn hostile bid for HP over Covid-19 outbreak: Report
Xerox Holdings Corp decided on Tuesday to abandon its $35 billion hostile cash-and-stock bid for HP Inc after the coronavirus outbreak put the brakes on its takeover campaign, according to people familiar with the...
Nykaa raises Rs 100 crore from existing investor Steadview Capital
Omnichannel lifestyle retailer Nykaa has secured Rs 100 crore in funding from its existing investor UK-based Steadview Capital as a primary investment. This comes as the Mumbai-based cosmetic retailer scaled down...
Merger of 10 PSU banks into 4 effective from today; 6 banks cease to exist
The biggest ever consolidation exercise in the public sector banking space is slated to take shape on Wednesday when six PSU lender will be merged into four in a bid to make them globally competitive. The exercise...
Saudi Aramco plans to sell pipeline stake amid a slump in crude prices
Saudi Aramco, the world’s largest oil producer, is weighing the sale of a stake in its pipeline unit to raise money amid a slump in crude prices, according to people familiar with the matter. Aramco may need to raise...
RBI changes SLBC convenors over merger of 10 PSBs into 4 from April 1
The Reserve Bank on Monday proposed to change the convenors of State Level Bankers’ Committee (SLBC) in view of the merger of 10 public sector banks into 4 with effect from April 1. With the mega merger, 6 public...
CCI issues guidance note for combination applications to ease M&A filings
Competition Commission has revised its guidance note for filing applications seeking approvals for combinations, a move that will help in having a more standardised review process. The guidance note for Form I has been...
Defaulting promoters may get lifeline, lenders may defer pledged share sale
Several promoter entities that are facing a deadline of March 31 to either repay loans or lose control over their companies, are likely to get a lifeline with public sector lenders planning a “deep restructuring” of...
Reliance to sell some April-loading crude cargoes in a rare move: Report
In a rare move, Reliance Industries is seeking to sell some its April-loading crude oil cargoes from Middle East as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, sources told...
