The bankrupt parent company of Silicon Valley Bank plans to sell its entire stake in Indian subsidiary SVB Global Services India to lender First Citizens Bancshares, it said in a filing on Wednesday. SVB Financial Group...
Astarc Group’s Naxnova acquires 74% stake in Belgium-based firm
Astarc Group’s flagship company Classic Stripes, which rebranded to Naxnova last month, has acquired Belgium-based maker of customised printed electronics Quad Industries, in a bid to strengthen its manufacturing know...
Vodafone sells Italian unit to Swisscom in 8 billion euros deal for fixing UK group operations
Telecoms giant Vodafone announced on Friday, March 15, that it has agreed to sell its Italian unit to Swisscom for eight billion euros ($8.7 billion) in cash, completing efforts to overhaul the UK group’s European...
Electric-vehicle startup Fisker prepares for possible bankruptcy filing
Troubled electric vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running...
Ferrovial subsidiary Cintra to acquire 24% stake in IRB Infra Trust from GIC
Transport infrastructure developer Cintra, a subsidiary of Spanish infra group Ferrovial, will acquire a 24% stake in IRB Infra Trust from GIC affiliates, IRB Infra said in a statement on Thursday. Cintra has entered...
Govt not planning to sell SUUTI stake in ITC, says DIPAM Secy
The government has no immediate intentions to divest its share in ITC, held through SUUTI, despite British American Tobacco (BAT) reduced its stake through a block deal in the Kolkata-based FMCG company, according to...
Maharashtra Cabinet approves purchase of MMRDA-Reliance Infra joint venture from Anil Ambani
The Eknath Shinde-led Maharashtra Cabinet has given an in-principle approval for the acquisition of Mumbai Metro One, a public-private partnership project jointly owned by Reliance Infrastructure Limited (R-Infra), led...
Quorum Club sells 5% stake to Nikhil Kamath’s Gruhas in pre-series A round
Quorum Club Private Ltd, the parent company of luxury members-only club, The Quorum, has closed an undisclosed pre-series A funding round for a 5% divestment in stake led by Gruhas, a venture founded in 2021 by Nikhil...
ITC share price falls over 2% as BAT looks to sell a ‘small part’ of its stake as soon as this week
ITC share price fell over 2% in early trade on Monday after reports that British American Tobacco Plc was looking to sale of part of its stake in the Indian partner as soon as this week. ITC shares fell as much as 2.46%...
‘The Body Shop’ files for bankruptcy: UK-based cosmetics major to shut down all US stores
The Body Shop, a UK-based cosmetics firm, shut down all of its US-based operations, reported CNN on Monday, adding that it will soon be closing dozens of Canadian store locations after filing for bankruptcy. In an...
Max India explores PE deals for Antara stake sale
Max India Ltd is in talks with private equity (PE) firms to sell 5-10% stake in its subsidiary Antara Assisted Care Services Ltd, two people aware of the development said. Max India, part of the $4 billion Max Group, is...
IndiGo co-founder Rakesh Gangwal to sell 3.3% stake in InterGlobe Aviation
IndiGo co-founder Rakesh Gangwal plans to sell up to 12.75 million shares, or 3.3% of his stake in InterGlobe Aviation Ltd, through a block deal, according to a term sheet reviewed by Mint. The sale, estimated to be...
