Apollo Hospitals Enterprise Ltd on Wednesday said it has acquired a 60 per cent stake in leading classical Ayurveda hospital chain AyurVAID for a consideration of Rs 26.4 crore. The investment will be used to upgrade...
CCI needs to be abreast of global best practices on mergers: FM Sitharaman
Finance Minister Nirmala Sitharaman said the Competition Commission of India (CCI) would need to keep pace with global developments on the merger and acquisition front and combine them with Indian laws. Speaking at the...
Vodafone in talks for UK merger with Hutchison’s Three, shares rise
Vodafone is in talks with CK Hutchison about merging their businesses in Britain to create a market leading mobile network that could accelerate the roll-out of 5G services and expand broadband availability...
Naspers-owned Prosus calls off India’s largest fintech M&A deal
The biggest M&A (merger & acquisition) deal in the Indian fintech space has been called off. Naspers-owned Prosus has terminated the $4.7-billion deal to acquire India’s leading payments aggregator BillDesk. The...
True North acquires minority stake via own fund in Accion Group for $93 mn
India-based private equity player True North has invested $93 million in Pittsburgh-based digital engineering company Accion Group. True North has routed this transaction through its Indium VI (Mauritius) Holdings fund...
Suzlon Energy to raise Rs 1,200 crore via rights issue of 2.4 bn shares
Suzlon Energy said its board has approved raising Rs 1,200 crore via a rights issue of 240 crore shares. The Securities Issue Committee of the Board, at its meeting held on Sunday, approved the rights issue, the company...
Rupee Cooperative Bank set to explore merger proposal, SFB conversion
Following a stay on cancellation of banking licence by Bombay High Court, Pune-based Rupee Cooperative Bank’s administrator will explore various options. These include conversion into a small finance bank (SFB), or...
Two firms can face IBC proceedings if both are corporate debtors: SC
The Supreme Court on Thursday said if two corporate bodies fall within the ambit of corporate debtors, there is no reason why insolvency proceedings cannot be initiated against both under the IBC. Section 7 of the...
Singtel arm sells 1.59% stake in Bharti Airtel for Rs 7,261 crore
Pastel Ltd, an entity of Singtel, on Thursday divested 1.59 per cent stake in Bharti Airtel for Rs 7,261 crore through an open market transaction. The stake has been picked by Bharti Airtel’s promoter Bharti...
Defence Ministry to acquire dual-role missiles from BrahMos Aerospace
In a further impetus to self-reliance in defence production, the Defence Ministry on Thursday signed a contract with BrahMos Aerospace for the acquisition of additional dual-role capable surface-to-surface BrahMos...
IDBI Bank completes sale of entire stake of Ageas Federal Life Insurance
Belgium-based Ageas Insurance International has completed the acquisition of a majority stake in its Indian joint venture Ageas Federal Life Insurance (AFLIC), picking up 25 per cent stake of IDBI Bank for Rs 580 crore...
NCLT adjourns Bajaj Hindusthan bankruptcy petition to December 7
The National Company Law Tribunal’s Allahabad bench has listed the State Bank of India petition against Bajaj Hindusthan Sugars for December 7. In an order dated September 14, the NCLT asked Bajaj Hindusthan to...
