Acquisition

Germany's Lufthansa Group on Friday finalised its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy's former flagship carrier. Under the 325-million-euro (USD 350 million) deal, Lufthansa takes an initial 41 per cent stake in ITA, formerly Alitalia, from the Italian government, gaining full control by 2033 with a total investment of 829 million euros. The remaining 59 per cent will initially continue to be held by the Italian Treasury. This deal was originally announced in May 2023 and was approved by the European Commission following a year-long investigation and with conditions to protect competition. The commission noted that Lufthansa, ITA and its partners, for example, control most routes from Rome and Milan to North America. Under the deal, the merged company must make it possible for rival airlines to launch non-stop flights between Rome or Milan and central European airports, where competition is limited; make room for rivals on ...

Information about deal size for Bengaluru-based firm not disclosed

The company further said that it will now await the regulatory approvals from the National Company Law Tribunal (NCLT) and Competition Commission of India (CCI)

Waaree Energies on Friday said it has inked a share purchase agreement to acquire entire equity stake in Enel Green Power India Pvt (EGPIPL) for a consideration of up to Rs 792 crore. The seller is one of Europe's largest renewable energy companies, and the EGPIPL is its Indian business, a regulatory filing stated. Waaree Energies Ltd has entered into a Share Purchase Agreement (SPA) with Enel Green Power Development S.r.l (Seller) on January 10 to acquire 100 per cent of the share capital of EGPIPL for a total amount of upto Rs 792 crore, subject to customary closing adjustments, according to the filing. The EGPIPL owns solar and wind projects in India which includes about 640 MWAC (760 MWDC) operational and portfolio under development. The operational portfolio includes projects jointly owned with a partner where the majority equity stake is with EGPIPL. Further, pursuant to the acquisition of shares, EGPIPL will become a subsidiary of Waaree Energies. The acquisition will dive

JSW Energy on Friday said its arm JSW Neo Energy has completed the acquisition of 125 MW of renewable energy assets from Hetero Group for an enterprise value of about Rs 630 crore. The 125 MW portfolio comprises wind projects located in Andhra Pradesh and Maharashtra and have long term power purchase agreements, a regulatory filing said. According to the filing, JSW Neo Energy Ltd (JSW Neo), a wholly-owned subsidiary of JSW Energy, has completed the acquisition of 125 MW of renewable energy assets from Hetero Labs Ltd and Hetero Drugs Ltd housed under three Special Purpose Vehicles (SPVs). The portfolio has a blended tariff of Rs 5.22/KWh and an average remaining plant life of 15 years. The total locked-in capacity of the company stands at 24.7 GW which consists of a diverse fuel mix and offtakers. The transaction values the Hetero's portfolio at an enterprise valuation of approximately Rs 630 crore, excluding net current assets and other adjustments under SPAs (Share Purchase ...

India has several venture-backed startups for whom the natural consequence is to have an exit, and between profitability and growth in the journey ahead, "we opted for the latter", Zoya Brar, founder of Core Diagnostics, which was recently acquired by Metropolis Healthcare, said. Metropolis Healthcare, one of India's leading diagnostics chains, acquired specialised diagnostics company Core Diagnostics for Rs 246.8 crore last month. "For an organisation to scale, it can either do it organically or inorganically. Since we have a number of venture-backed startups (in India), the natural consequence is, there needs to be an exit. And while IPOs are an option, they need a certain volume and scale before it makes sense. So we will continue to see consolidation," Brar told PTI. "Most importantly, incumbents like Metropolis need to constantly differentiate themselves to remain ahead of the competitive landscape and one simple way to do that is to acquire insurgents that have built an ...

For its initial portfolio, the trust will acquire, manage, and invest in nine completed and revenue-generating initial portfolio assets, aggregating approximately 682.43 km

Billionaire Mukesh Ambani's Reliance Industries Ltd has spent USD 13 billion on acquisitions in the past five years across new energy, telecom, retail and media business to script a pivot away from core oil and petrochemicals business to clean energy and consumer facing verticals. Last week, Reliance bought oncology platform Karkinos Healthcare for Rs 375 crore, adding another stack to its diagnostic and digital healthcare ecosystem, Morgan Stanley said in a report. "Over the past five years, RIL has announced USD 13 billion in acquisitions with 14 per cent in new energy, 48 per cent in technology, media and telecommunications (TMT), 9 per cent in retail, and increasingly more in healthcare," it said. Of this, USD 6 billion was in acquisition of companies and assets in media and education business and USD 2.6 billion in telecom and internet verticals. It spent USD 1.7 billion on acquisitions in new energy and USD 1.14 billion in retail, according to Morgan Stanley. RIL's biggest ..

Billionaire Mukesh Ambani's Reliance Industries has acquired technology-driven and oncology-focused healthcare platform Karkinos for Rs 375 crore, the firm said on Saturday. Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Mumbai-listed India's most valuable company, completed the acquisition of Karkinos Healthcare Pvt Ltd with allotment of requisite shares, the firm said in a stock exchange filing. Karkinos was incorporated in India on July 24, 2020, and is in the business of providing technology-driven innovative solutions for the early detection, diagnosis, and management of cancer. It had a turnover of about Rs 22 crore in the 2022-23 fiscal. "Reliance Strategic Business Ventures Ltd has on December 27, 2024, subscribed to and has been allotted 1 crore equity shares of Rs 10 each, for cash, aggregating Rs 10 crore and 36.5 crore optionally fully convertible debentures of Rs 10 each, for cash, aggregating Rs 365 crore of Karkinos," according to the ...

The deal is expected to increase Oyo's earnings before interest, taxes, depreciation and amortisation (Ebitda) to over Rs 2,000 crore in FY26

The National Company Law Appellate Tribunal (NCLAT) on Monday upheld the approval of Sapphire Media's resolution plan for acquiring Big 92.7 FM, owned by Reliance Broadcast Network Limited, dismissing a batch of appeals filed by Radio Mirchi, Orange FM, and others.The NCLAT Bench, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, concluded, "After considering the submissions, we find no grounds to interfere with the NCLT's order dated May 6, 2024, and consequently, the appeals are dismissed."Earlier, the National Company Law Tribunal (NCLT) cleared Sapphire Media's resolution plan in a ruling on May 6, 2024, with the plan being filed for approval by the resolution professional in NCLT Mumbai.The decision made by the National Company Law Tribunal (NCLT) was contested by the unsuccessful bidders, Abhijit Realtors & Infraventure and Creative Channel Advertising & Marketing, who filed a set of five appeals before the NCLAT. The appellants claimed ..

Alibaba Group Holding Ltd. announced Tuesday it's going to sell Chinese department-store chain Intime to a local apparel group for $1 billion. The price is around 30% of the company's valuation

Jindal Saw on Tuesday said it has inked a pact to acquire 31.20 per cent equity in ReNew Green Energy. However, the company did not divulge the financial details of this equity acquisition. In a filing, Jindal Saw said, "It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company". The acquisition is with an objective to procure electricity at a concessional rate, the company said. Jindal Saw further said it aims to complete the acquisition by May 31, 2025, or any other date as may be mutually decided between the parties. It is a manufacturer and supplier of steel pipe products, fittings and accessories with manufacturing facilities in India, the US, Europe and the UAE.

The crux of the litigation is a clash over Qualcomm's license agreement for the use of Arm's intellectual property following Qualcomm's $1.4 billion acquisition of chip startup Nuvia in 2021

The VBL board approved the acquisition of SBC Tanzania for Rs 1,304 crore and SBC Beverages Ghana for Rs 127 crore

IPG has a presence in India through IPG Mediabrands India. Globally, WPP, Omnicom, Publicis Groupe, and IPG form the 'Big Four' of the advertising world

The Competition Commission of India (CCI) on Tuesday cleared MUFG Bank's and American conglomerate Koch Group's proposed acquisition of shareholding in logistics aggregator Shiprocket. "The proposed combination envisages acquisition of certain shareholding of Shiprocket Pvt Ltd by MUFG Bank Ltd," the CCI said in a release. MUFG Bank is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG), being the ultimate parent company. It is engaged in banking services in India. In another release, fair trade regulator CCI said the proposed combination envisages acquisition of certain shareholding in Shiprocket Pvt Ltd by KDT Venture Holdings, LLC. KDT Venture Holdings LLC is an early-stage venture capital firm. It is a wholly owned subsidiary company of Koch, Inc. Koch is one of the largest private companies in the US after multinational food corporation Cargill Inc. Shiprocket operates a logistics platform whereby it provides logistics services to other businesses, ...

Murugappa Group firm Tube Investments of India Ltd on Thursday said it will acquire a 67 per cent equity stake in the Indian arm of South Korea's KC Altech Co Ltd for Rs 62 crore. The company has executed a definitive agreement for subscription of a 67 per cent equity stake in Kcaltech System India Pvt Ltd (KCAL India), a subsidiary of KC Altech Co Ltd, the Tube Investments of India (TII) said in a statement. "This strategic acquisition will enable TII to strengthen its position in the growing automotive sector, particularly in the domain of aluminium tubes and parts used in heating, ventilation, and air conditioning (HVAC) systems for automobiles," it added. The proposed investment will support KCAL India's expansion plans, including increasing its manufacturing capabilities, the company added. The acquisition will be carried out "by way of subscription to fresh equity shares for a consideration of about Rs 62 crore", TII said in a regulatory filing. The acquisition is expected t

Tube Investments proposes to acquire 2,24,08,313 equity shares of Kcaltech representing 67 per cent of its equity share capital

Jisang Yoo, CEO, Mirae Asset Capital Markets India, will be appointed as the CEO of Mirae Asset Sharekhan.