National Mineral Development Corporation (NMDC) will acquire a majority stake in the troubled KIOCL (formerly Kudremukh Iron Ore Co Ltd). Addressing his first press conference since becoming the Union Minister of Steel...
The Hindu Businessline
Indus Hospitality to make open offer for Sterling Holiday
Indus Hospitality Fund and India Discovery Fund have together announced an open offer for the shares of Sterling Holiday Resorts Ltd at Rs 36.25 a share, to acquire 22.86 per cent of the company’s existing equity...
Lanxess India to acquire assets of Gwalior Chem for Rs 536 cr
Specialty chemicals company Lanxess India Pvt Ltd is set to acquire the chemical businesses and some assets of Gwalior Chemical Industries Ltd for Rs 536 crore (€82.4 million), a cost that includes debt of Rs 156...
Pfizer acquires Vetnex business
Pfizer Animal Health has acquired Vetnex Animal Health Ltd, Ranbaxy’s animal health business that was later divested to ICICI Venture. The acquisition is expected to close by the end of the third quarter of the...
Huawei may bid for majority stake in ITI
Chinese telecom vendor Huawei may be one of the interested bidders for picking up stake in the factories owned by State-run Indian Telephone Industries Ltd. Huawei told Business Line that it was open to discussing...
GVK takes over EMRI management
Emergency Management and Research Institute, which runs the ‘108’ emergency medical help ambulance service, has been renamed GVK-EMRI. It has also made additions to its board. These changes come as a...
Take Solutions deal with Korean co
Chennai-based Take Solutions has struck a deal with IL-Yang Pharmaceutical Company of South Korea, under which Take will provide ‘investigational new drug submission services’ to the pharma company. The...
MP Labs accepts exit price for Matrix shares
MP Laboratories (Mauritius) has issued a public notice to the shareholders of Matrix Laboratories that it has accepted the price of Rs 211 an offer share (‘exit price’) established by the reverse book...
Novartis hikes offer price to Rs 450 a share
Swiss drugmaker Novartis has increased its offer price to acquire an additional 39 per cent in Novartis India Ltd, from the initially proposed Rs 351 to Rs 450 a share. The 28 per cent hike in offer price was to...
Bharti-MTN deal: Pointer to the future
The merger talks between Bharti Airtel and South African telecom company, MTN, is a pointer to an emerging trend in the Indian telecom growth story. Saturated urban markets, declining average revenue per user, tighter...
Telecom sector leads M&A activity in India
The telecommunication sector has been a significant driver of mergers and acquisitions (M&A) in India accounting for the highest share of deals at 18.6 per cent and 22 per cent during the last two years with values...
RCom gets nod for demerger of optical fibre division
Reliance Communications (RCom) said on Tuesday that it has received shareholders’ approval for the demerger of its optical fibre division and subsequent merger with wholly-owned arm, Reliance Infratel. The...
