The Axis Bank-Max Life Insurance deal has moved a step closer to fruition with both firms agreeing to amend or remove clauses in their transaction that had displeased the insurance regulator, two people familiar with...
Out-of-court M&A deals set to pick up pace on IBC suspension
India may see more out-of-court merger and acquisition deals for distressed assets with the government suspending the insolvency and bankruptcy process for a year in view of the covid-19 crisis, and with banks under...
Diageo incurred loss of 2 mn pounds on sale of India wine business
World’s leading spirits maker Diageo incurred a loss of 2 million pounds on sale of its Indian wine business last year, the company’s annual report has said. Diageo-owned liquor firm United Spirits Ltd (USL)...
Singapore govt invests ₹450 crore in Phoenix Mills share sale
The government of Singapore has invested ₹450 crore in the recent qualified institutional placement (QIP) offering of mall developer Phoenix Mills Ltd, the company said in a filing to the stock exchanges. Mint had...
Deadline for completion of Jet Airways insolvency resolution to be extended beyond 21 August
The deadline for completion of Jet Airways (India) Ltd’s insolvency resolution process, which was earlier extended till 21 August due to the nationwide lockdown to contain the spread of the covid-19 virus, will be...
Tata Tele partners FirstWave solutions to expand cyber security portfolio
Tata Teleservices on Thursday said it has partnered with Australian cloud security company FirstWave Cloud Technology to expand its cyber security portfolio. As part of the partnership, Tata Teleservices (TTSL) will...
Johnson & Johnson borrowing $7.5 billion for Momenta in latest M&A bond sale
Johnson & Johnson is tapping the bond market for $7.5 billion to help fund its acquisition of Momenta Pharmaceuticals Inc., adding to a week that’s seen a resurgence in financing for takeovers. The drugmaker is the...
Reliance-Netmed deal to bring attractive returns for Sistema Asia Fund
Sistema Asia Fund (SAF) on Wednesday said Reliance Industries’ ₹620-crore deal to buy Netmeds will bring “attractive returns” for the venture capital fund within three years of its investment in the...
Diagnostics firms eye consolidation
The diagnostics industry in India could see rapid moves toward consolidation and formalization, executives at major chains said, as stand-alone laboratories struggled with cash and demand for quality services following...
Adani looks to buy OPG’s thermal plant
Adani Power, India’s largest coal-based private power producer, is in early discussions with OPG Power Ventures to acquire a 414-megawatt coal-fired plant near Chennai, said two people aware of the development. The...
Hiring platform Able Jobs raises $1.8 million in seed round led by SAIF Partners
Entry-level talent-hiring platform, Able Jobs, has raised a seed amount of $1.8 million from SAIF Partners, Y Combinator, former-WhatsApp executive, Neeraj Arora; Titan Capital and Firstcheque. According to the company...
Johnson & Johnson’s $6.5-bn pact to buy Momenta is year’s biggest pharma deal
Johnson & Johnson agreed to pay $6.5 billion in cash to acquire Momenta Pharmaceuticals Inc., a maker of autoimmune-disease drugs, in the largest pharmaceutical-industry merger this year. Though the price tag falls...
