Adam Neumann, the former chief executive and co-founder of WeWork, recently submitted an offer to buy the bankrupt co-working company for more than $500 million, according to people familiar with the matter. It wasn’t...
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Tech Mahindra to merge US-based subsidy Born Group with parent Tech Mahindra (Americas) Inc
Tech Mahindra, India’s one of leading IT services and consultation firms, has said that the company will be merging its wholly-owned step down subsidiary Born Group with its parent company Tech Mahindra (Americas) Inc...
INOXGFL Group plans to sell majority stake in C&I business; mandates EY for sale process
INOXGFL Group has hired EY for a planned majority stake sale in its commercial and industrial (C&I) business, two people aware of the development said, a transaction with a potential equity value of around $200...
Defunct SVB Financial Group to offload Indian arm to First Citizens Bancshares
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%...
