Jaypee group’s Jaiprakash Associates has called a board meeting on Monday to take a decision to sell its Nilgrie cement unit in Madhya Pradesh. Dalmia Cement is a frontrunner in the race to acquire the company...
Concor stake sale: Inter-ministerial group expected to clear EOI today
In another step towards the divestment of government stake in Container Corporation of India (Concor), an inter-ministerial group will meet on Thursday to clear the expression of interest (EoI) for the stake sale. The...
Fullerton acquisition deal: Sumitomo Mitsui Group faces $670-mn tax bill
Sumitomo Mitsui Financial Group is facing a $670-million tax bill from India on its $2-billion acquisition of Fullerton India Credit, far outweighing what the Japanese lender has set aside, according to people familiar...
Healthium Medtech inks pact to sell UK-based unit to KKR for unrevealed sum
Healthium Medtech said it has inked a pact to sell its UK-based subsidiary to global investment firm KKR for an undisclosed amount. The company has entered into a definitive agreement to sell Watford-based Clinisupplies...
Dhunseri Tea to acquire two estates from Apeejay Tea in Assam’s Tinsukia
Soon after entering into a deal with Warren Tea to buy its four tea estates in Assam, the C K Dhanuka-promoted Dhunseri Tea & Industries is set to buy another two tea gardens from Apeejay Tea Ltd, a part of the...
Cognizant acquires US-based management consulting firm AustinCSI
IT major Cognizant on Wednesday announced that it was acquiring the management consulting company AustinCSI for an undisclosed sum. Based in Dallas, Texas, AustinCSI provides consulting services for Fortune 500 clients...
HSBC to sell Canada business to RBC for $10 billion, says report
HSBC has agreed to sell its business in Canada to the Royal Bank of Canada for $13.5 billion Canadian dollars ($10.04 billion) in cash. The sale comes as HSBC pursues a strategy of focusing its resources on its core...
Alibaba to sell Zomato shares worth $200 million via block deal: Report
Alibaba Group Holding Ltd plans to sell a stake of about 3% in Indian food delivery firm Zomato Ltd worth $200 million through a block deal, CNBC Awaaz reported on Tuesday, citing sources. The Chinese e-commerce giant...
PhonePe set to acquire fintech start-up ZestMoney for about $300 mn
Digital payments firm PhonePe is set to acquire fintech start-up ZestMoney for $200-300 million, according to sources. The acquisition would help Walmart-owned PhonePe to strengthen its lending services and compete with...
Insolvency proceedings begin in Ansal Properties and Infrastructure
The National Company Law Tribunal (NCLT) has ordered the commencement of a corporate insolvency resolution process of Ansal Properties and Infrastructure. The creditors of Ansal Properties have been asked to submit...
L&T Finance Holdings completes sale of L&T AMC for Rs 3,484 crore
L&T Finance Holdings completed the sale of L&T AMC to HSBC Asset Management, according to a regulatory filing. “…With respect to the proposed sale of 100 per cent of the paid-up share capital of...
HSBC Asset Management Company completes acquisition of L&T Mutual Fund
HSBC Asset Management Company (AMC) has completed the acquisition of L&T Investment Management. In a filing with exchanges, L&T Finance Holdings said it has received Rs 3,485 crore from HSBC AMC as sale proceeds...
