The Ambani family won a high-stakes bidding battle this week to secure a stake in the London-based Oval Invincibles cricket team. Reliance Industries Limited won a virtual auction with the minority stake worth about £60...
Byju’s insolvency: NCLT reinstates Glas Trust as financial creditor, ejects resolution professional
The National Company Law Tribunal on Wednesday reinstated Glas Trust Co. Llc and Aditya Birla Finance Ltd as Byju’s financial creditors, in a major setback to the edtech company as the two lenders will now have a...
LVMH Sells Stella McCartney Stake Back to Founder After Downturn
LVMH Moët Hennessy Louis Vuitton SE is selling the stake it owns in Stella McCartney back to the brand’s founder as the luxury group cleans up its portfolio of labels amid a downturn for high-end goods. Stella...
Perplexity AI revises merger proposal with TikTok, offers 50% equity to US, ByteDance to retain algorithm: Report
Aravind Srinivas’ Perplexity AI has revised its merger proposal with TikTok owner ByteDance to create a new joint company, Reuters reports. Under the new terms, the US government would be offered up to 50% of the...
EV Maker Nikola Explores Sale, Partnerships With Cash Dwindling
Nikola Corp. is exploring options to stave off a cash crunch, including potentially selling parts or all of the company, according to people familiar with the matter. Other possibilities under consideration include...
Unilever Is Smart to Spin Off Ben & Jerry’s and Magnum
Unilever Plc is cutting the fat — in every sense. Chief Executive Officer Hein Schumacher plans to spin off its ice-cream business, including the Magnum and Ben & Jerry’s brands, to focus on higher growth categories...
Busy Bee Airways challenges liquidation of Go First in NCLAT
Busy Bee Airways Pvt Ltd, one of the bidders for the grounded airline Go First, has approached the National Company Law Appellate Tribunal (NCLAT) to challenge the airline’s liquidation. On 20 January the National...
Pune court temporarily blocks termination of trademark pacts in Kirloskar dispute
A Pune district court has temporarily restrained Kirloskar Proprietary Ltd (KPL) from terminating its trademark licence and user agreements with Kirloskar Brothers Ltd (KBL). The court’s decision, made on 9...
NCLT rejects Akshay Kumar’s insolvency plea against edtech Cue Learn
The National Company Law Tribunal’s (NCLT) Delhi bench has dismissed Bollywood actor Akshay Kumar’s plea to initiate insolvency proceedings against ed-tech company Cue Learn Pvt. Ltd. Kumar had filed a plea...
Brazil’s Ethanol King Sells $1.5 Billion Vale Stake to Cut Debt
Billionaire Rubens Ometto’s conglomerate Cosan SA is giving up its stake in mining giant Vale SA, ending its bet on a mining investment in order to pay down debt. Cosan sold 173 million shares in a deal worth nearly 9...
Universal Plans US Share Sale for Pershing Square Stake
Universal Music Group NV has agreed to plan a US share sale by Sept. 15, in order to fulfill an agreement with billionaire Bill Ackman’s hedge fund Pershing Square. The Amsterdam-listed entertainment company will use...
Adani Group offloads 13.51% stake in Adani Wilmar
Shares of Adani Wilmar remained flat on Thursday, January 16, even as other Adani Group stocks witnessed gains. The muted response in Adani Wilmar’s stock came after Adani Commodities LLP, a promoter entity of the...
