Page 15 - Acquisition

Brookfield acquires controlling stake in CleanMax Solar for $360 million

Canadian investor Brookfield said on Thursday it had acquired a controlling stake in Indian solar-panel maker CleanMax Enviro Energy Solutions for $360 million

GQG Partners buys Max Healthcare shares for Rs 415 cr via open market

GQG Partners on Monday acquired shares of hospital chain Max Healthcare Institute for Rs 415 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), GQG Partners Emerging Markets Equity Fund bought 75,50,000 lakh shares of the firm. The shares were purchased at an average price of Rs 549.70 apiece, taking the transaction value to Rs 415 crore. Details about the sellers could not be immediately ascertained. Shares of Max Healthcare Institute gained nearly 1 per cent to close at Rs 550.45 apiece on the NSE. During the day, the scrip also touched its 52-week high of Rs 558.85 per share on the bourse. In a separate bulk deal, Morgan Stanley Investment Funds offloaded 9.60 lakh shares of Gland Pharma for Rs 89 crore. Morgan Stanley Investment Funds Emerging Markets Equity Fund sold 9,60,271 shares at an average price of Rs 930.69 apiece. This took the deal value to Rs 89.37 crore. On Monday, shares of Gland Pharma tu

Siemens dips 10% after board okays sale of low voltage-geared motors biz

In a step to address the fast-growing demand for electric vehicle (EV) charging infrastructure in India, the company signed an agreement to acquire the EV division of Mumbai-based Mass-Tech Controls.

Timex Group acquires watch retail brand Just Watches for undisclosed amount

US-based watchmaker Timex Group on Thursday said it has acquired Just Watches, a premium watch retail brand for an undisclosed sum. With this deal, Timex India will be taking over all the physical stores of Mumbai-based Just Watches and their e-commerce portal Justwatches.com, Timex Group said in a statement. "...this is in line with our future growth plans and hence brings a perfect synergy between the coming together of the two brands. We are confident that the acquisition will provide a wider choice of timepieces to our consumers. Through this business move, at Timex, we are geared up to increase our consumer base countrywide," Timex India Managing Director Deepak Chhabra said in a statement. Timex India currently operates over 35 exclusive franchised stores under the brand name Timex World. "The decision of this acquisition comes at a point wherein Timex India is looking to take their retail presence and business growth in the country to the next level reinforcing them to be th

Eiko Lifesciences acquires 25.01% stake in Reflux Pharmaceuticals

The acquisition is part of ELL's long-term strategic growth plan to diversify its portfolio and enter new markets

ZestMoney founders resign weeks after PhonePe calls off to acquisition

In April, ZestMoney laid off 100 employees, or about 20 per cent of its workforce

Qualcomm to acquire Autotalks to enhance its automotive safety technology

Qualcomm announced that it has entered into a definitive agreement to acquire an Israel-based fabless semiconductor company Autotalks that builds chipsets

Fair-trade regulator CCI approves for acquisition of Tower Vision India

Fair-trade regulator CCI on Wednesday granted approval for the acquisition of 100 per cent shareholding of Tower Vision India by Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Ltd. Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Ltd are funds and investment vehicles owned and controlled by Global Infrastructure Management LLC. The proposed combination pertains to acquisition by Ascend Telecom Infrastructure Pvt Ltd (Ascend) and GIP EM Ascend 2 Pte Ltd (GIP EM) of 100 per cent of the shareholding of Tower Vision India Pvt Ltd, according to an official release. Tower Vision India is controlled by Tower Vision Mauritius Ltd and is engaged in the provision of passive telecommunication infrastructure services. Separately, the regulator has given its nod to the acquisition by Sanjay Chamria of certain equity shares of Jaguar Advisory Services held by Poonawalla Fincorp Ltd and HDI Global SE. After acquiring the shares of Jaguar, it will result in an indirect acquisition by

CIEL Group to raise Rs 150-200 crore in FY23-24 to fund acquisition plans

Staffing solutions provider CIEL Group has planned to raise Rs 150 crore to Rs 200 crore this financial year to fund its acquisition plans, a top official said here on Wednesday. The funds raised would be deployed for the current acquisition targets of seven companies mainly in the professional staffing segment and human resource technology domain, among others, Ma Foi and CIEL Group executive chairperson K Pandiarajan told reporters here. The city-based company recorded revenue of Rs 815 crore in FY 2022-23, a 57 per cent increase on Rs the 520 crore revenue recorded in 2021-22. "We are planning to infuse around Rs 150 crore to Rs 200 crore through private equity and we have retained one of the most respected investment bankers for the purpose," Pandiarajan said. "Out of the seven companies, we believe four will be acquired during this year and we intend to deploy the funds for this purpose. We will also deploy a significant part of the funds towards strengthening the digital ...

CIEL Group to raise Rs 150-Rs 200 cr in FY 2023-24, says official

Staffing solutions provider CIEL Group has planned to raise Rs 150 to Rs 200 crore this financial year to fund its acquisition plans, a top official said here on Wednesday. The city-based company had recorded revenues of over 57 percent in FY 2022-23 to register Rs 850 crore, CIEL Group executive chairperson K Pandiarajan said. "We are planning to infuse around Rs 150 to Rs 200 crore through private equity and we have retained one of the most respected investment bankers for the purpose." MaFoi and CIEL Group executive chairperson K Pandiarajan told reporters here. The funds raised would be deployed for the current acquisition targets of seven companies mainly in the professional staffing segment, human resource technology domain among others, he noted. "Out of the seven companies, we believe four will be acquired during this year and we intend to deploy the funds for this purpose and we also deploy a significant part of the funds towards strengthening the digital properties," he

Fintech firm BharatPe acquires controlling stake in NBFC Trillion Loans

BharatPe said it has also infused a substantial amount of investment into Trillion Loans to enable the NBFC to grow its loan book

Brookfield buys 51% stake in Bharti Enterprises' 4 commercial properties

Global investment firm Brookfield has closed a deal to acquire a 51 per cent stake in Bharti Enterprises' four commercial properties, including Worldmark at Aerocity in the national capital, at an enterprise value of Rs 5,000 crore. In a statement, Bharti Enterprises and Brookfield Asset Management on Monday announced the successful closure of their joint venture agreement for a 3.3 million square feet portfolio of commercial properties primarily located in the Delhi-NCR region. The properties include Worldmark Aerocity (Delhi), Worldmark 65 and Airtel Center (Gurgaon) and Pavillion Mall (Ludhiana). "As part of this deal, a Brookfield-managed private real estate fund now owns a 51 per cent stake in this joint venture, while Bharti Enterprises continues with a 49 per cent stake. The enterprise value for the transaction is around Rs 5,000 crore," it added. Bharti Realty Ltd is the real estate arm of Bharti Enterprises, which has a presence in telecom, real estate, insurance, hospital

Axis Bank reports Rs 5,361 cr loss in Q4 on Citi acquisition payout

Axis Bank reported a Rs 5,361 crore loss on a consolidated basis for the January-March period against a net profit of Rs 4,417 crore a year ago, impacted by the Rs 12,490 crore payout towards the Citi acquisition. On a standalone basis, the third largest private sector lender reported a Rs 5,728 crore loss against a net profit of Rs 4,117 crore in the year-ago period, and Rs 5,853 crore in the preceding December quarter. Its managing director and chief executive Amitabh Chaudhry told reporters that the impact of acquiring Citi's retail businesses is a one-time one, and if one were to exclude the same, the net profit would have grown by over 61 per cent on a year-on-year basis. The bank's core net interest income grew 33 per cent to Rs 11,742 crore driven by a 0.73 per cent expansion in the net interest margin at 4.22 per cent and an over 20 per cent growth in advances. The other income grew 16 per cent to Rs 4,895 crore during the quarter. Its chief financial officer Puneet Sharma

PhonePe may forgo ZestMoney's $18 mn debt after failed acquisition: Report

ZestMoney is said to be in talks with some of its existing investors to raise separate equity capital, the report said

HDFC Bank to buy stake in Griha, gets Singapore regulatory body's approval

The proposed agreement is subject to approval from the market regulator Sebi

CCI gives nod to Blackstone-Emerson Electric Co acquisition deal

The Competition Commission of India (CCI) on Friday said it has granted its approval for the stake acquisition in climate technologies' business of Emerson Electric Co by BCP Emerald Aggregator LP. BCP Emerald Aggregator LP is an affiliate of US-based alternative asset manager Blackstone. The deal has been cleared under the green channel route. The proposed transaction relates to the acquisition by BCP Emerald Aggregator LP (Buyer) of a majority stake in the climate technologies business of Emerson Electric Co (Seller), according to CCI. The regulator has also approved the proposed investment by Stamford Bridge Investment Pte Ltd, an SPV of GIC (Ventures) and Platinum Falcon B 2018 RSC Ltd (Platinum), in BCP Emerald Aggregator LP. GIC (Ventures) is a subsidiary of Singapore's sovereign wealth fund GIC, while Platinum is an affiliate of the Abu Dhabi Investment Authority (ADIA). Emerson Electric Co designs and manufactures products and delivers services to a wide range of industri

Epic Games acquires game developer firm AQUIRIS to enhance Fortnite

According to the company, the AQUIRIS team will be the foundation of Epic Games Brazil, the first Epic studio in Latin America

Wipro acquires Brahmins, to launch snack brand, focus on southern markets

Wipro Consumer Care and Lighting on Thursday announced the acquisition of Brahmins - a Kerala-based traditional vegetarian, spice mix and ready-to-cook brand - and it has also drawn up plans to launch its snacks brand targeting the southern market. The company will focus on the southern market and is in the process of launching its own brand in the fast-growing ready-to-eat and snacks segment, Wipro Consumer Care and Lighting and Managing Director Vineet Agrawal told PTI. He further said Wipro Consumer Care and Lighting would take the acquisition route for expanding in the spices segment. The company, part of Azim Premji-led Wipro Enterprises, forayed into the foods segment in December last year with the acquisition of the Nirapara brand. It is seeking to tap opportunities for growth in South India in the food space. "As of now, we would look at South India and the reason is, unlike North and West India, there is no organised player in South India in terms of snacks like Haldiram a

Japanese giant Sega to acquire Angry Birds creator for $1 bn: Report

Rovio in February this year removed its original Angry Birds game from Google Play Store, and renamed the Apple iOS version to Red's First Flight

ZestMoney laying off 100 employees after deal with PhonePe fails

PhonePe in talks with BNPL firm to hire some staff left after acquisition talks fail