Financially stressed Williamson Magor group, promoted by the Khaitan family, got a major relief on Friday as the Kolkata bench of the National Company Law Tribunal (NCLT) allowed a financial creditor to withdraw its...
Volkswagen completes merger of three Indian units
German automobile manufacturer Volkswagen Group has completed the merger of its three Indian subsidiaries, as part of its efforts to arrest falling sales and revenue by saving incremental costs, utilising combined...
Repaying debt: Over 90 per cent of promoter stake in Zee pledged
Punit Goenka, CEO of Zee Entertainment Enterprises (ZEEL), said on Saturday that over 90% of the promoter holding in the company has been pledged. Goenka was addressing analysts following a disclosure made by VTB...
Taboola and Outgrain announce merger
Digital advertising platforms Taboola and Outbrain have entered into an agreement to merge, in order to provide enhanced advertising efficacy and reach marketers worldwide. The merger is also aimed at “helping news...
A first for PSUs: NHPC acquires Lanco’s Teesta-6 hydro project under IBC
In a first instance of a state-run company acquiring a stressed asset under the insolvency and bankruptcy code, NHPC on Friday signed an agreement to take over and implement the 500-MW Teesta-6 hydro electric project in...
Air India divestment: SPA to be shared with bidders at EoI stage
Taking lessons from last year’s failed attempt to privatise Air India, the government has, this time round, decided to share the actual “sale and purchase agreement (SPA)” privately with prospective bidders at the EoI...
PSU disinvestment: Modi govt amends process for strategic sale
In what shows the Modi 2.0 government’s policy intent to privatise a clutch of large state-run firms, starting with the current financial year itself, the Cabinet on Thursday approved new processes for strategic...
Insolvency and Bankruptcy Code spurs M&A activity
Acquisition of distressed assets has gone up in India since the implementation of the Insolvency and Bankruptcy Code. According to a report by Bain & Company, these acquisitions have accounted for 70% growth in deal...
Religare to sell its stake in NBFC arm to TCG Advisory for Rs 330 crore
Religare Enterprises has agreed to sell its entire stake in NBFC arm Religare Finvest to asset management company TCG Advisory Services for Rs 330 crore, the financial services company has said in a stock exchange...
Share of carve-outs in M&A deals rises as firms hive non-core assets
Large Indian corporates are increasingly selling down businesses that are not core. This trend is adding to the mergers and acquisitions activity too, in recent times. The share of carve-outs in mergers and acquisitions...
PSU disinvestment: Legal hurdles cleared for Bharat Petroleum sale
The privatisation of Bharat Petroleum Corporation (BPCL), which could fetch around 55% of the FY20 disinvestment target of Rs 1.05 lakh crore, will be fast-tracked to conclude the transaction by the fourth quarter of...
DLF settles Rs 8,700 cr amount payable to JV with GIC
Realty major DLF has settled the entire Rs 8,700 crore amount payable to DLF Cyber City Developers Ltd (DCCDL), its joint venture with Singapore-based GIC, by transferring various completed commercial properties and...
