Essel group’s plan to acquire 62 per cent stake in LKP Finance has been dealt a blow following the change in liquidity position, said people in the know. They said that Essel has made payment for the 24 per cent it...
NCLAT reserves order on contempt plea filed against Reliance Infratel
The National Company Law Appellate Tribunal (NCLAT) on Wednesday reserved its order regarding admitting a contempt petition filed against Reliance Group Chairman Anil Ambani and its other officials by minority...
YES Bank acquires 9.47% stake in Eveready by invoking pledged shares
YES Bank has acquired a 9.47 per cent stake in Eveready Industries India, part of the B M Khaitan group, by invoking pledged shares. The shares were acquired on invocation of pledge subsequent to default/breach of terms...
EU objects to Hindalco’s plan to buy aluminum producer Aleris Corp
Kumar Mangalam Birla’s Hindalco Industries will have to tackle European anti-trust objections on its plan to buy aluminum producer Aleris Corp. to expand as a supplier to the car industry. Novelis said the European...
HDFC moves NCLT to keep Jet’s office out of insolvency proceedings
Housing Development Finance Corporation (HDFC) has moved the National Company Law Tribunal (NCLT) seeking to keep Jet Airways office in Bandra Kurla Complex out of the bankruptcy proceedings, as it had been mortgaged by...
CLP inks deal to buy 3 power assets from Kalpataru for Rs 3,275 cr
CLP India has entered into an agreement to buy three power-transmission assets from Kalpataru Power Transmission, for Rs 3,275 crore, the two companies announced on Wednesday. CLP will purchase equity stake in three...
APAC M&A activity in first half of 2019 slows to 1,525, lowest since 2013
Merger and acquisition activity in the Asia Pacific region, excluding Japan, moderated significantly during the first-half of 2019, amid an escalating US-China trade and technology war, a Mergermarket report said. The...
AB InBev’s sale of Asia-Pacific unit can raise $9.8 bn in Hong Kong IPO
Anheuser-Busch InBev NV kicked off the year’s biggest initial public offering, a sale of shares in its Asia Pacific beer unit that could raise as much as $9.8 billion and top Uber Technologies Inc.’s May listing. The...
Adani Power soars 17% on board nod to Korba West Power, GCEL acquisition
Shares of Adani Power zoomed 17.4 per cent to Rs 60 apiece in the intra-day trade on Monday after the company’s board approved acquisition of the entire stake of Korba West Power Company limited’s (KWPCL) and GMR...
Delhi High Court dismisses GVK plea to stop stake sale in Mumbai Airport
The Delhi High Court on Monday dismissed a petition moved by GVK Airport Holdings, a step-down subsidiary of GVK Power & Infrastructure, to stop Bid Services Division (Mauritius), an arm of Bidvest, from selling its...
PSB stake sales through ETFs to help govt achieve FY20 disinvestment target
The government will depend heavily on resource mobilisation by selling its stake in public sector banks through the newly launched financial sector ETFs. Government sources said that ETFs have been saviour for...
PSU general insurers need Rs 13k cr to restore health before merger: Report
The government may need to shell out close to Rs 13,000 crore to improve the financial health of public sector general insurers before initiating their consolidation, sources said. The government is exploring various...
