Agrochemicals maker Excel Crop Care Ltd has said that its board has approved a plan that will see its present owner Sumitomo Chemicals India Pvt. Ltd reverse merge with the company to become a listed entity, the company...
LIC-IDBI deal ends need for IDBI Federal Life stake sale
Besides, with LIC owning a majority stake in IDBI Bank, it will be impossible to find a buyer, say experts, given that the bidders were looking at an exclusive bancassurance deal with IDBI Bank. “It is unlikely that LIC...
NCLT admits insolvency petition against apparel brand Provogue
The Mumbai bench of the National Company Law Tribunal admitted Provogue (India) Ltd for insolvency resolution on Thursday, making it the fourth company from the textile and garment sector to attempt loan resolution in...
Healthcare firm Grifols S.A. wins U.S. antitrust nod to buy Biotest US Corp
Global healthcare company, Grifols S.A. (GRLS.MC), which is based in Spain, has won U.S. antitrust approval to buy Biotest US Corp on condition that it sells certain assets, the Federal Trade Commission said on...
Jin Jiang Weighs Bid for $2 Billion Hotelier Radisson
Chinese hospitality provider Jin Jiang International Holdings Co. is weighing a bid for Radisson Hotel Group, the global chain owned by HNA Group Co., people with knowledge of the matter said. Jin Jiang, which is...
LIC-IDBI Bank deal receives cabinet approval
State-owned Life Insurance Corp. of India has received approval from the Union cabinet to buy a majority stake in state-run IDBI Bank Ltd. Wednesday’s nod clears the way for LIC to seek the go-ahead from the Reserve...
Canadian building-interior maker DIRTT drops bid to sell itself
DIRTT Environmental Solutions Ltd confirmed on Wednesday it was no longer in deal talks after Reuters reported that the Canadian building-interior manufacturer had abandoned an effort to sell itself. Private equity...
LIC’s acquisition of 51% in IDBI Bank a ‘win-win’ situation for both
Life Insurance Company (LIC)’s acquisition of 51 per cent stake in IDBI Bank will be a “win-win” situation for both the government-owned entities, Finance Minister Piyush Goyal said on Wednesday. This comes after the...
Piramal set to demerge pharma, finance arms, list them on stock exchange
Billionaire businessman Ajay Piramal’s Piramal Enterprises (PEL) has finalised a plan to demerge its financial services and pharmaceutical businesses and list them on stock exchanges to unlock value in the two fast...
NZ’s Contact Energy to sell LPG business for $177.4 mln
Contact Energy Ltd said on Tuesday it will sell Rockgas Ltd, which holds the company’s LPG business, to an associate of First Gas Ltd for NZ$260 million ($177.35 million) in cash. As a part of the deal, Contact will...
Binance to Buy Crypto-Wallet Company in First-Ever Acquisition
Binance, one of the world’s biggest cryptocurrency exchanges, is embarking on its first acquisition as it seeks to give customers more control over their digital coins. The closely held firm bought Trust Wallet, a...
SKF divests linear and actuation unit in $314 million deal with Triton
Sweden’s SKF, the world’s biggest maker of industrial bearings, on Tuesday said it had agreed to divest its linear and actuation technology business to investment firm Triton for 2.75 billion crowns ($314 million). The...
