The Centre has put in abeyance a plan to merge the three public-sector general insurance companies OIC, UIIC and NIC, but might soon sell about 10% each in General Insurance Corporation (GIC Re) and New India Assurance...
Cabinet clears ordinance to amend Companies Act
The Union cabinet on Thursday gave its approval for promulgation of an ordinance to bring amendments to the Companies Act 2013. The amendments are largely in line with recommendations of a panel headed by corporate...
Lenders seek bids for Coastal Energen
Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months. As of December 2016, Coastal Energen’s outstanding term debt stood...
Disinvestment: Coal India OFS may fetch Centre Rs 15,000 crore
Anxious to give disinvestment process the much-needed momentum, the Centre on Tuesday announced sale of up to 9% stake (558.66 million shares) in Coal India (CIL). At the floor price of Rs 266 apiece, the exercise could...
Delta Air Lines evinces interest in JetAirways, may buy Goyal, Etihad stakes
Even as the Tata group is believed to have intensified negotiations for a possible purchase of a stake in troubled airline Jet Airways, the carrier may find a white knight in Delta Air Lines, three people familiar with...
Zydus buys Complan and Glucon D maker Heinz’s basket of brands
In a deal that puts them in a commanding position in the health foods and nutrition space, Zydus Wellness and Cadila Healthcare on Wednesday said they were acquiring Heinz India at a valuation of Rs 4,595 crore. Heinz...
IndiGo’s CEO Rahul Bhatia says open to acquiring airlines
IndiGo co-founder and interim CEO Rahul Bhatia, in an investor call, on Wednesday said that the airline will look at any opportunity that the current aviation market throws up along with its growth strategy of growing...
‘ONGC bought GSPC gas field stake for half the asking price of Rs 20k cr, replacement cost’
State-owned ONGC bought Gujarat State Petroleum Corp’s (GSPC) stake in a KG basin gas block for USD 1.2 billion (about Rs 8,000 crore) when the replacement value of brand new assets built by the company is at least USD...
Outbound activity drives Merger and Acquisition’s robust growth in Q3 of 2018
Merger and acquisition (M&A) deal values recorded a 5.3-times increase year-on-year (y-o-y) in the third quarter of calendar year 2018 (Q32018) driven by outbound activity, according to a dealtracker report by Grant...
Jack Ma backed Alibaba in talks to check in at Spencer’s Retail, say reports
The global e-commerce major Alibaba is eyeing a stake in food and grocery chain, Spencer’s Retail, according to various newspaper reports. RP-Sanjiv Goenka’s retail chain, which is a wholly-owned subsidiary of CESC Ltd...
Hathway: Acquisition or tie-up is a key upside catalyst
The wired broadband market offers significant growth potential, and Hathway is actively engaging to improve subscriber traction in it. Offering Android set-top boxes is an interesting proposition to attract customers...
Bank Unions to protest against PSU banks’ merger decision on Tuesday
A bank employee unions’ federation has called upon bank unions to hold demonstrations Tuesday to protest against the merger of three state-run lenders –Bank of Baroda, Vijaya Bank and Dena Bank, a union leader said...
