Co-working space firm WeWork Inc. has filed for Chapter 11 bankruptcy in New Jersey, as per a Bloomberg report. On November 1, the Wall Street Journal reported that WeWork plans to file its Chapter 11 petition for...
NCLT admits insolvency plea against Compuage Infocomm
The Mumbai bench of the National Company Law Tribunal (NCLT) on Friday admitted a plea seeking insolvency process against Compuage Infocomm. Plus Plus Unified Engagement, one of the financial creditors to the company...
Disney set to complete takeover of Comcast’s stake in Hulu for $8.6 billion
The Walt Disney Company announced it will buy Comcast’s $8.6 billion stake in Hulu, completing its takeover of the streaming service. The acquisition will “further Disney’s streaming objectives,”...
Butterfly’s merger with parent Crompton Greaves fails to gain nod
The public disapproval pushed shares of Butterfly Gandhimathi by 7% before they closed at ₹1085.4 apiece on the NSE. Shares of Crompton Greaves too closed marginally lower at ₹282 apiece. Despite holding a 75% stake in...
Zee-Sony merger: NCLAT transfers all cases to bench led by chairperson
The National Company Law Appellate Tribunal (NCLAT) transferred pleas filed by Axis Finance and IDBI Bank challenging the Zee-Sony merger to the bench of the chairperson, Ashok Bhushan. NCLAT’s move comes as the...
Tech Mahindra board approves merger by absorption of 3 subsidiaries
The board of directors of Tech Mahindra has approved the merger by Absorption of 3 subsidiaries of the firm and their respective shareholders. This announcement came alongside the company’s September quarter...
Kotak Mahindra gets RBI nod to acquire Sonata Finance for ₹537 crore
Kotak Mahindra, on Friday, received approval from the Reserve Bank of India to acquire Sonata Finance for ₹537 crore, the company said in its filing on Friday. The bank had announced to acquire 100% stake of the Non...
PTC India approves ONGC’s bid to buy PTC Energy for ₹925 crore
PTC India at its board meeting approved ONGC’s bid to acquire its subsidiary PTC Energy Limited for ₹925 crore. In an exchange filing, PTC India said, “PTC India in its Board Meeting held on 19 October has...
Softbank to cut stake in Zomato, plans full exit
Masayoshi Son-led SoftBank’s fund-SVF Growth (Singapore) Pte. Ltd will sell at least 1.1% stake in food-delivery and restaurant-discovery firm Zomato Ltd for around ₹1,020 crore on 20 October, as the Japanese fund plans...
A91 Partners-backed VideoVerse buys Optikka
A91 Partners-backed VideoVerse, a video editing platform, has bought AI-based design system Optikka for an undisclosed sum, marking its second acquisition this year. The deal will help VideoVerse expand its media...
IDFC gets CCI nod for merger with IDFC First Bank
The Infrastructure Development Finance Company (IDFC) has received approval from the Competition Commission of India (CCI) for its merger with IDFC First Bank, a regulatory filing stated on October 17. “…the CCI...
Maruti Suzuki to fully acquire Gujarat car unit in $1.54 bn share-swap deal
Maruti Suzuki India Ltd (MSIL), the country’s largest carmaker, on Tuesday said that it will issue shares worth ₹12,841 crore ($1.54 billion) to its parent Suzuki Motor Corp. to fully acquire Suzuki Motor Gujarat...
