Page 10 - Acquisition

Pidilite to enter lending business, to acquire promoter group's NBFC firm

Adhesive and construction chemicals manufacturer Pidilite Industries plans to enter the lending business, providing small-value retail loans. To facilitate this, Pidilite Industries, would acquire an existing NBFC -- Pargro Investments, belonging to its Promoter Group, according to a regulatory update. "Pidilite Industries Ltd, intends to set up a Lending Business," the company said. Over the next two years, to build the new business, the company expects to invest up to Rs 100 crore in tranches, through an optimum mix of equity and debt. "The new business would provide credit to its domain ecosystem to support their business growth. This credit will be provided primarily in the form of small-value retail loans," said Pidilite, the makers of Fevicol, Dr Fixit, Fevikwik and M-Seal. Pargro will be acquired by Pidilite through a wholly-owned subsidiary under a Share Purchase Agreement (SPA) to be entered by March 31, 2024. "The acquisition of Pargro will be done at a fair value of up

Byju's in talks with 3-4 strategic buyers to sell Epic for $450 million

Byju's and its term loan B lenders then decided to postpone the ongoing disagreement in the US courts and achieve an out-of-court resolution

Raymond Group to acquire 59% stake in Maini Precision for Rs 682 crore

The acquisition will be concluded through Ring Plus Aqua, a subsidiary of JK Files and Engineering

Raymond Group to acquire 59.25% stake in Maini Precision for Rs 682 cr

With this acquisition, Raymond's engineering business will emerge as a large‐scale provider of engineering, automotive, electric vehicle (EV), aerospace and defence components

Jhunjhunwala family-backed IKS Health acquires US tech firm for $200 mn

The combined company is forecast to have an annual revenue of over US$ 330 million (Rs 2,748 crore), as well as a global workforce of over 14,000 employees

Blackstone makes health care foray with $1 bn deals, buys Care Hospitals

Blackstone's investment commitment combining QCIL and KIMS is close to $1 bn

Hindustan Foods Ltd to invest Rs 100 cr to in sports shoes manufacturing

Hindustan Foods Limited has entered into a sales and purchase agreement (SPA) to acquire 100 per cent of the shareholding of KNS Shoetech Private Limited from its existing shareholder

TVS Srichakra to acquire US based firm, to grow off-highway tyre biz

TVS Srichakra Ltd, makers of TVS Eurogrip, Eurogrip and TVS brand of tyres, has drawn up plans to acquire the US-based Super Grip Corporation as part of its vision to grow in the global off-highway tyre market. On Friday, the company's board of directors approved the formation of a subsidiary in the United States market ahead of the acquisition plan. Super Grip Corporation, established in 1984, is engaged in manufacturing of high-quality tyres for the industrial tyre market. We view the proposed Super Grip transaction with excitement. The company fits in well with our plan to expand our off-highway tyre business globally, TVS Srichakra Ltd Director S Ravichandran said in a company statement here. The proposed transaction also brings with it an experienced and motivated management team, which will add value to the business over time, he said. TVS Srichakra recently invested in a new plant at its facility in Madurai to double the off-highway tyre capacity. This investment is largely

Tata Motors to acquire 27% stake in Freight Commerce for Rs 150 crore

'Freight Tiger' is a digital platform that provides end-to-end logistics value chain solutions for cargo movement in the country

Diagnostic services firm Manipal HealthMap acquires Medcis Pathlabs

Company buys remaining stake in peer after first deal in 2022 gave it 84%

JK Paper to acquire Manipal Utility Packaging Solutions for Rs 90 crore

JK Paper Ltd on Monday said it will fully acquire Manipal Utility Packaging Solutions Pvt Ltd for nearly Rs 90 crore. The company has entered into a share purchase agreement (SPA) for the acquisition of 100 per cent shares of Manipal Utility Packaging Solutions Pvt Ltd (MUPSPL), JK Paper said in a regulatory filing. Under the SPA, JK Paper will acquire 4.07 crore equity shares representing 100 per cent of capital of MUPSPL at Rs 21.80 per equity share of Rs 10 each, subject to adjustments as per terms of agreement, it added. The acquisition is expected to be completed within six weeks of execution of the SPA with the target entity and its promoters/shareholders, subject to fulfilment of conditions mentioned in the SPA, the company said. JK Paper Vice Chairman and Managing Director Harsh Pati Singhania said, "This acquisition is in line with the long-term strategic objective of the company in the packaging business and gives us an opportunity to offer combined solution to the custom

Birla Carbon acquires Belgium based Nanocyl for undisclosed amount

Aditya Birla group firm Birla Carbon on Wednesday announced the acquisition of Belgium-based Nanocyl SA for an undisclosed amount. The acquisition will help the Aditya Birla group firm to drive Growth in battery materials for lithium-ion batteries, said a joint statement from Birla Carbon and Nanocyl. Birla Carbon is a leading manufacturer and supplier of high-quality carbon solutions. "The acquisition expands Birla Carbon's presence in the Energy Systems market, creating a leadership position in material critical to Lithium Ion battery performance, along with other conductive applications," the statement said. The inclusion of Nanocyl's advanced multi-wall carbon nanotubes (MWCNTs) provides Birla Carbon with a remarkable range of solutions for conductive applications, it added. Financial details of the deal were not disclosed. "Birla Carbon has been nurturing a number of innovation opportunities in its effort to realise its multi-prong sustainability agenda. The acquisition of .

CCI clears acquisition of Hitachi Astemo by HMCL, Japan Investment Corp

Fair trade regulator Competition Commission of India (CCI) on Tuesday said it has cleared the acquisition of certain shareholding in Hitachi Astemo Ltd (HAL) by Japan Investment Corporation and Honda Motor Co Ltd (HMCL). The proposed deal relates to the acquisition of 20 per cent voting rights in HAL by JICC, an affiliate of Japan Investment Corporation, together with certain control rights, board representation and other rights, according to an official release. JICC-01 Ltd Partnership is managed by JICC G.K, an affiliate of the Japanese government's sovereign wealth fund Japan Investment Corporation (JIC). Also, the regulator approved the acquisition of an additional 6.6 per cent of voting rights in HAL by HMCL, such that 40 per cent of the voting rights in HAL are held by HMCL. In addition, CCI also gave its nod to the acquisition of a 49 per cent stake in Hitachi Astemo Electric Motor Systems (HAEMS) by HAL, such that 100 per cent of the shareholding of HAEMS is held by ...

Exxon Mobil nears $60 bn acquisition of shale driller Pioneer Natural

The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998

Energy exchange IEX to acquire 10% stake in Enviro Enablers India

Energy exchange IEX on Friday said it will acquire a 10 per cent stake in Enviro Enablers India Private Limited. The association will fulfil IEX's commitment towards sustainability and decarbonisation in line with India's net zero commitments, Indian Energy Exchange (IEX) said in a BSE filing. "IEX entered into a share subscription agreement and shareholders' agreement with Enviro Enablers India Private Limited (EEIPL) to acquire a 10 per cent stake in the company through compulsory convertible preference shares (CCPS)," it said. This platform will catalyse solutions for compliant waste management, including segregation, processing, recycling, tracking, tracing, and valorization of waste fractions, all while uplifting informal waste pickers, SN Goel, Chairman and Managing Director of IEX, said. "This strategic alliance sets the stage for a transformative journey towards sustainability and circularity within India's energy landscape," Govindaswamy Mahesh Babu of EEIPL said.

Sajjan Jindal's firm, SAIC Motor to take over MG Motor India: Report

There will be no JSW Group companies involved in the deal and Jindal will participate through his private company

IQuest Enterprises to acquire active pharma ingredient business of Viatris

Multi-sector investment firm IQuest Enterprises will acquire the active pharmaceutical ingredients (API) business of Viatris in India for an undisclosed amount. The investment firm has entered into a definitive agreement to acquire the API operations of global pharmaceutical major Viatris in India, IQuest Enterprises said in a statement on Monday. IQuest emerged as the preferred investor following a global competitive bid, it added. As part of the deal, the company will acquire six API manufacturing facilities, three each in Vizag and Hyderabad, an R&D facility in Hyderabad, and third-party API sales. "We are excited about our largest investment in the pharmaceutical sector till date. Our investment comes at an opportune time when India is drawing significant attention amongst the global pharma industry," IQuest Enterprises Executive Director Gunupati Swathi Reddy noted. IQuest Enterprises is a multi-sector investment company. It has invested in various entities like AIG ...

EKI Energy Services picks up 26% stake in WOCE Solutions for Rs 80 lakh

EKI Energy Services Ltd on Friday said it has completed the acquisition of a 26 per cent stake in WOCE Solutions Private Limited (WOCE) for around Rs 80 lakh. In March 2023, its Board of Directors approved to subscribe to 35,140 equity shares of Rs 10 each at a premium of Rs 217.66 per share of WOCE Solutions Private Limited (WOCE), which resulted in the acquisition of 26 per cent of the equity capital of WOCE, EKI Energy Services Ltd (EKESL) said in a regulatory filing. "EKESL has successfully acquired 35,140 equity shares of WOCE, constituting 26 per cent of the equity shares capital of WOCE. As a result of the same WOCE has become an associate of the company," it said. A consideration of Rs 79.99 lakh will be paid in cash for the subscription of shares. EKESL said the acquisition will enhance the company's sustainability services by extending the facility to calculate and track carbon footprint. EKI Energy Services is a carbon credit developer and supplier across the globe.

Saregama acquires majority 51.8% stake of Pocket Aces for Rs 174 crore

Saregama, the country's oldest music label company owned by the RP-Sanjiv Goenka Group, on Thursday announced the acquisition of a majority 51.8 per cent stake in Pocket Aces Pictures, the youth-focussed digital content creator and publisher, for Rs 174 crore in an all-cash deal. The over 100-year-old Saregama, which was formerly known as The Gramophone Company of India, will also be picking up an additional 41 per cent in the fast-growing digital entertainment company over the next 15 months, the RPG Group statement said, adding the transaction completed is an all-cash deal. Pokcet Acers owns direct relationship with over 95 million younger digital-first customers across Instagram, Youtube, etc and boasts of an IP catalogue of over 3,000 content pieces ranging across web series, sketches, music videos and reels on its channels Filtercopy, Nutshell and Gobble, and releases over 30 new pieces of content every day. Its talent management arm, Clout, manages over 100 digital influencers

Emami enters into definitive agreement to acquire 26% of Axiom Ayurveda

Axiom has its own manufacturing facility in Ambala, Haryana and is setting up a fully automated new facility in Jammu (Kathua) at a cost of Rs 160 crore