Facility management firm Tenon Property Services, a subsidiary of LSE-listed and Singapore-based Mortice Ltd, has acquired Delhi-based Rotopower Projects Pvt Ltd for a consideration of Rs 10 crore. The acquisition has...
NTPC buys 44.6% in TELK
NTPC Ltd said on Monday it was buying a 44.6 per cent stake in Transformers and Electricals Kerala Ltd (TELK), from the Kerala Government. The power producer said the stake was valued at Rs 31.34 crore ($6.4 million)...
ABG, Bharati slug it out for Great Offshore pie
Great Offshore, a supplier of rigs used for offshore drilling, found itself at the centre of a takeover battle on Tuesday, following an unsolicited bid by ABG Shipyard to counter an ongoing open offer from Bharati...
Govt bans Chinese cos from bidding for ITI units
With the government looking at a sale or formation of joint ventures to run the three loss-making units of Indian Telephone Industries (ITI), the home ministry has said it would not grant approval to Chinese firms to...
India Inc targets IT, pharma firms in US
The number of US-bound acquisition deals by India Inc stood at 143 in the last two fiscals with Tata Chemicals, Reliance Communications and Wipro emerging as major acquirers, says a study. "During the two...
Godrej sets up M&A cell, to focus on rural markets
The Godrej group has decided to set up a mergers and acquisitions (M&A) cell to explore opportunities in India and abroad. Mr Adi Godrej, Chairman, Godrej Group, said at a recent analysts meet, “We have great...
Satyam offer: Tech Mahindra gets US nod
Telecom solutions company Tech Mahindra said on Thursday that it has received approval from the US anti-trust authority regarding its Rs 1,154-crore open offer for the purchase of an additional 20 per cent stake in...
LIC seeks nod to raise stake in public sector banks beyond 10%
Life Insurance Corporation of India has sought the permission of the Insurance Regulatory and Development Authority for raising its stake in public sector banks beyond 10 per cent. Ever since the IRDA put a 10 per cent...
State Bank of Indore to be merged with SBI
Less than a fortnight after the Finance Minister, Mr Pranab Mukherjee, endorsed the consolidation process among State-owned commercial banks, State Bank of India (SBI) has set the ball rolling. The board of State Bank...
Govt looking at proposal to divest 10% in BHEL
The Government is considering the proposal to divest 10 per cent stake in Bharat Heavy Electricals Ltd, the Minister for Heavy Industries and Public Enterprises, Mr Vilasrao Deshmukh said on Friday in response to a...
Zandu’s FMCG business to be merged into Emami
In a three-way restructuring plan, Emami Ltd and its listed subsidiary, Zandu Pharmaceutical Works, have proposed to merge Zandu’s FMCG business into Emami, demerge Zandu’s other (non-FMCG) assets and...
SBI plans to merge two arms
State Bank of India (SBI) is readying merger plans for two of its little-known subsidiaries, restarting a slow-moving and controversial effort to consolidate its operations. SBI Commercial and International Bank...
