Adani Transmission Ltd (ATL) announced closure in its acquisition of 100 per cent stake of KEC International Limited in the latter’s transmission asset. In November 2018, both ATL and KEC International had signed...
NACL to raise Rs 100 cr from Krishi Rasayan Group, offers 16% stake in firm
Crop management solutions company NACL, formerly known as Nagarjuna Agrichem, has decided to raise Rs 100 crore from Kolkata-based Krishi Rasayan Group by offering a 16 per cent stake in the company. This is part of the...
Sale of pledged shares by L&T Finance, Edelweiss illegal: Reliance Group
Anil Ambani-promoted Reliance Group alleged on Friday that misconduct by certain non-banking financial companies (NBFCs), particularly L&T Finance and Edelweiss, had led to the recent slump in shares of some of its...
Bharti Airtel’s African subsidiary merges operations with Telkom Kenya
Bharti Airtel on Friday said its African arm Airtel Networks Kenya and Telkom Kenya would merge their respective mobile, enterprise and carrier services businesses in Kenya. The new business will be called Airtel...
Essar Steel insolvency case: Lenders to gain more, Arcelor tells NCLT
Defending itself against Standard Chartered Bank from diluting its bid for Essar Steel, ArcelorMittal on Thursday told the National Company Law Tribunal’s Ahmedabad Bench that lenders would gain more from the deal. The...
Dell explores sale of cybersecurity company SecureWorks to trim debt pile
Computer maker Dell Technologies Inc is exploring a sale of SecureWorks Corp, a U.S. provider of cybersecurity services with a market value of close to $2 billion, people familiar with the matter said on Thursday. A...
Essar Oil to acquire pipeline, oil terminal from BP for up to $100 million
Essar Oil UK said in an announcement on Wednesday that it has signed an agreement to acquire a few assets owned by energy major BP. The deal includes a stake in the UKOP pipeline, a contractual joint venture and...
World Bank arm IFC to invest $8 million in equity in lending firm Mintifi
International Finance Corporation (IFC) has proposed to invest up to $8 million in equity in Mintifi, a tech-driven distributor/dealer financing platform. The company also has an impact investment fund as an investor...
Debt-ridden Jet Airways sells loyalty miles to raise Rs 250 crore
Jet Airways has secured Rs 250 crore from advance sale of redemption miles to its associate firm. The airline is also in discussion with lenders for short-term loans. The board of Jet Privilege Private Limited (JPPL)...
Troubled pizza chain Papa John’s gets $200 million from Starboard
Starboard Value will make its CEO the chairman of Papa John’s International via a $200 million investment in the troubled pizza chain. The activist fund’s CEO, Jeffrey Smith (pictured), will take over the board role...
CPSEs lined up for IPOs, will meet Rs 90,000-cr disinvestment target: DIPAM
The Finance Ministry on Saturday said 10 CPSEs, including THDCIL, RailTel and TCIL, have been lined up for initial public offering (IPO) and plans are afoot to launch sector-specific ETFs to meet the ambitious Rs 90,000...
Tech Mahindra to acquire Dutch IT firm Dynacommerce for Rs 128 crore
IT services major Tech Mahindra on Friday said it will acquire Netherland-based IT firm Dynacommerce Holding BV for around Euro 15.9 million (around Rs 128 crore). The acquired entity provides software platforms and...
