Vayana, a Chennai-based start up, has acquired SolutionNET, also a city-based company, which has over 25 banks as customers, for an undisclosed sum. Vayana, which started operations in January, has a team of experts...
Ashok Leyland, John Deere complete pact for venture
Ashok Leyland, the flagship of the Hinduja Group, and John Deere Construction & Forestry Company today announced the completion of all legal formalities for the formation of the joint venture company – Ashok...
State Bank of Indore merger on course
State Bank of India will go ahead with the merger of State Bank of Indore with itself in the next three to six months, once it receives the necessary approval. The boards of both SBI and State Bank of Indore have...
Disinvestment firmly back on Centre’s agenda
Disinvestment in central public sector undertakings (PSUs) is now firmly on the UPA Government’s agenda. The Finance Ministry has initiated discussions with other ministries and departments for identifying the...
Tech Mahindra ‘comfortable’ holding 43% in Satyam
The board of Mahindra Satyam which met on Friday allotted 19.86 crore shares to Venturebay Consultants – a subsidiary controlled by Tech Mahindra, taking the stake of the new owner to nearly 43 per cent. Mahindra...
Bharati Shipyard ups open offer price to Rs 405
Bharati Shipyard, which acquired 19.47 per cent stake in Great Offshore last month, has increased its open offer price to Rs 405 a share. On June 23, Great Offshore found itself at the centre of a takeover battle, after...
SEBI guidance to Bharti on MTN deal
The Securities and Exchange Board of India ( SEBI) in an “informal guidance” to Bharti Airtel has said that MTN Group would be required to make an open offer only if it converted the Bharti Airtel GDRs they...
SBI’s consolidation proposal hits union hurdle
The Centre has advised the State Bank of India not to pursue with the Reserve Bank of India the issue of acquisition of State Bank of Indore. Instead, the Government has now asked the SBI management to invite bank...
Kavveri Tele buys 67% in Canadian firm
Kavveri Telecom Products Ltd, a maker of antennas and radio frequency (RF) products for the wireless industry, has acquired a 67 per cent stake in Canada-based design and development firm, Trackom Systems International...
Gitanjali to pick 70% in MobileNXT
Gitanjanli Gems is to acquire 70 per cent stake in Bangalore-based mobile phone retail chain MobileNXT Teleservices through its wholly owned subsidiary Gitanjali Lifestyle Ltd. Gitanjali Lifestyle has entered into an...
Wockhardt to shed more non-core biz
More non-core businesses will be sold in three to six months, the Wockhardt Chairman, Mr Habil Khorakiwala, told shareholders on Monday. The debt-ridden drug-maker has in the last 10 days announced the divestment of its...
Alstom in race for Areva’s T&D biz
Alstom of France, a global leader in the power generation equipment and services business, is believed to be the front-runner for buying out Areva’s power transmission and distribution division, according to...
