Debt-ridden Wockhardt Ltd has divested its German business Esparma to Mova GmbH, a subsidiary of Lindopharm GmbH, Germany, for an undisclosed amount. The development comes as the Mumbai-based drug maker sets about the...
Infosys eyes buys in Mexico, Brazil to improve operations
Infosys Technologies Ltd is eyeing acquisitions in Mexico and Brazil to expand its delivery capability and grow business from local organisations in these geographies. The company, which expects its first centre in...
Federal Bank, Catholic Syrian merger likely in a month
The merger of Catholic Syrian Bank with Federal Bank is expected to be through in a month. According to reliable sources close to the deal, the boards of directors of both the banks will meet in a month’s time to...
Jubilant mulls sale of performance polymer biz
Pharmaceutical major Jubilant Organosys Ltd on Tuesday said it is looking at selling off its non-core business of industrial performance polymers. “The company is strategically focusing on pharmaceuticals and life...
Nomura agrees to buy 30.5% stake in LIC MF
Japanese financial services group Nomura has agreed to pick up a 30.5 per cent stake in LIC Mutual Fund for around Rs 227 crore. The deal values the Indian company at over Rs 700 crore. The Japanese firm plans to take...
SBI gears up for consolidation, awaits govt green signal
The Union Finance Minister, Mr Pranab Mukherjee’s accent on banking industry’s consolidation at a meeting with bankers last week will, in all likelihood, spur the State Bank of India to complete its...
Indian Hotels to acquire Sea Rock for Rs 680 cr
Indian Hotels Company Ltd (IHCL), which runs the Taj Group of hotels, will acquire Sea Rock Hotel in Mumbai for Rs 680 crore. IHCL will pick up an 85 per cent stake in ELEL, the company which holds a long-term sub-lease...
Vedanta investing Rs 600 cr in Sesa Goa
Sesa Goa, which on Thursday announced it was buying the mining assets of the Dempo group for Rs 1,750 crore, will raise Rs 600 crore through a preferential allotment of shares to Vedanta Resources plc, its parent...
Gitanjali group in talks to pick up major stake in MobileNXT
Jewellery major Gitanjali group is in advanced talks to pick up a major stake in the Bangalore-based mobile retail chain, MobileNXT. Confirming this to BusinessLine, Mr Vijay Menon, Founder Director, MobileNXT, said...
Phillips Electronics gets ready with second buyback offer
Phillips Electronics India (formerly Philips India) got its second buyback offer approved by the majority shareholders at its 79th annual general meeting here on Friday. The first buy back offer after delisting could...
Consolidating banks
The Finance Minister has stressed the importance of consolidation in the banking industry, which basically means merging some of the banks with each other so that the capital base and business of the new identity are...
Sesa Goa to buy Dempo’s mining assets for Rs 1,750 cr
Sesa Goa, a Vedanta Group company, has agreed to acquire the mining assets of Dempo Group for Rs 1,750 crore in an all-cash deal. The assets include mining leases, rights and related infrastructure in Goa. Sesa Goa on...
