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...
RCom, Kribhco in joint venture
As part of its rural thrust, Reliance Communication has formed a joint venture with Krishak Bharti Cooperative Ltd (Kribhco) for offering value-added services to mobile users in villages. The joint venture, called...
NTT DoCoMo open to hiking stake in Tata Tele
Japanese mobile company NTT DoCoMo is open to picking up further stake in Tata Teleservices if it gets the right valuation. NTT DoCoMo recently picked up a 26 per cent stake in Tata Tele for about Rs 13,000 crore...
Pranab sees merit in bank consolidation for stability
The Finance Minister, Mr Pranab Mukherjee, has put his weight behind consolidation of banks, stating that this may be necessary to improve the state of competitiveness of Indian banks globally and also to reduce the...
Past acquisitions come to haunt Satyam
The street may have given thumbs-up to the better-than-expected financial health of Satyam Computer Services, but the troubles for the scam-hit firm are far from over. Apart from being locked in class-action lawsuits...
RInfra arrangement for demerger
The shareholders of Reliance Infrastructure Ltd (RInfra) on Tuesday approved the Scheme of Arrangement (Scheme) for demerger of the six divisions of the company. The demerger was carried according to the Sections 391 to...
Dorf Ketal acquires Sanmar unit
Dorf Ketal Chemicals has acquired Intec business from Sanmar Specialty Chemicals Ltd. Intec is leading player in organic titanates, poly vinyl formal and poly isocyanates, and has its manufacturing unit in Dadra. Dorf...
Sanlam open to hiking stake in Shriram Life
South African financial services firm Sanlam has said it is open to increasing its stake in Shriram Life Insurance, a joint venture with the Shriram Group. At present, the Sanlam Group holds 26 per cent stake in the...
TVS exits from joint ventures with Wabco
The TVS group has exited from the four decades old air brakes business in favour of its US partner, Wabco. This follows TVS and Wabco smoothly exiting from their two joint ventures, Sundaram Clayton ( SCL) and Wabco...
Lanxess acquires Gwalior Chemical for Rs 536cr
European specialty chemical major Lanxess has acquired the chemical and wind power assets of Mumbai based specialty chemical manufacturer Gwalior Chemical Industries for an aggregate value of 82.4 million euros (Rs 536...
PTC India to acquire coal mines in Australia, Indonesia
State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Indonesia for the purpose. "We are looking for coal blocks...
ICICI Venture sells animal health arm to Pfizer group firm
ICICI Venture Funds Management Company today said it has sold the animal healthcare division of RFCL, Vetnex, to Pfizer Animal Health for an undisclosed sum. The sale is expected to close...
