Hindustan Unilever (HUL) on Monday said it was merging GlaxoSmithKline (GSK) Consumer Healthcare with itself in a transaction worth Rs 317 billion, in the largest deal of the consumer goods space in the country. The...
Proposed acquisition of PFC by REC needs approval of RBI, CCI: Official
The proposed acquisition of Power Finance Corporation (PFC) by state-run Rural Electrification Corporation (REC) would require the approval of banking regulator RBI and competition watchdog CCI, an official said...
ICICI Securities selected to advice Finance Ministry on two M&A deals
ICICI Securities has been selected to advise the Finance Ministry on two merger and acquisition (M&A) deals, an official said. Six firms — Ernst & Young LLP, Deloitte Touche Tohmatsu, ICICI Securities...
Asset sale to Jio at risk from govt’s Rs 29-bn demand, RCom tells SC
Billionaire Anil Ambani’s Reliance Communications (RCom) told Supreme Court on Monday that its asset sale to Reliance Jio Infocomm may not go through if approvals aren’t in place by mid-December, putting at risk planned...
RIL’s arm acquires substantial stake of Rs 10.3 mn in media startup NEWJ
Reliance Industries arm has acquired substantial stake in media startup New Emerging World of Journalism (NEWJ) with an initial investment of Rs 10.3 million. “As initial tranche, RIIHL (Reliance Industrial...
PNB to raise Rs 5.39 bn through staff stock purchase scheme from Nov 30
State-owned Punjab National Bank on Wednesday said it will raise Rs 5.39 billion by issuing 100 million equity shares to its employees under staff stock purchase scheme. The issue price was decided at the board meeting...
TCS’ second acquisition this month, acquires US-based BridgePoint Group
India’s largest IT service provider Tata Consultancy Services (TCS) seems to be actively getting back to mergers and acquisitions space after focusing only on organic growth strategy for almost last five years. The...
Govt gives approval to sell 100% stake in Air India’s ground handling firm
The government on Tuesday approved 100 per cent stake sale in state-owned airline Air India’s ground-handling company Air India Air Transport Services Limited (AIATSL). The approval comes at a time when the government...
Google confirms acquisition of $1-billion office park in Silicon Valley
Google has invested $1 billion in a large office park near its headquarters in Mountain View, California, the media reported. A Google representative confirmed the $1 billion purchase price for the office park but did...
Centre considers REC-PFC merger to bridge budget gap ahead of 2019 polls
India is considering a proposal to combine two state-run lenders to utilities, REC Ltd. and Power Finance Corp., according to people familiar with the discussions, as it seeks to raise funds to bridge a budget gap. The...
Japan’s NTT acquires 55% stake in 63moons’ subsidiary Atom for $9 mn
Tokyo-headquartered NTT Data, a leading IT services provider, has acquired 55.35 per cent stake in Atom Technologies, a subsidiary of 63moons technologies, for an aggregate consideration of $9.24 million (Rs 650...
HDFC to raise Rs 85 bn by issuing bonds to shore up long-term capital needs
Mortgage lender HDFC Ltd will raise up to Rs 85 billion by issuing bonds on a private placement basis to shore up long-term capital needs. The secured redeemable non-convertible debentures (NCDs) with an issue size of...
