Page 2 - Acquisition

L&T Technology Services acquires US-based Intelliswift for $110 million

The acquisition, according to the firm, will deepen its offerings across software product development, platform engineering, digital integration, data, and artificial intelligence (AI)

House of Abhinandan Lodha buys over 352 acres in key cities for Rs 3,000 cr

The acquisitions are said to be part of the company's national expansion plans

Macrotech acquires Bain Capital's stake in 3 entities for Rs 307 crore

Realty firm Macrotech Developers has acquired Bain Capital's stake in three industrial and logistics park entities for Rs 307 crore as part of a strategy to enhance rental income. Macrotech Developers is one of the leading real estate firms in the country. It sells properties under Lodha brand. In a regulatory filing on Thursday, the company informed that it has "executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the digital infrastructure platform entities (Bellissimo Digital Infrastructure Development Management Pvt Ltd, Palava Induslogic 4 Pvt Ltd and Bellissimo In City FC Mumbai 1 Pvt Ltd), in entirety at a consideration of Rs 307 crore". Bain Capital had a 30 per cent stake in Bellissimo Digital Infrastructure Development Management Pvt Ltd and a 33.33 per cent stake each in the other two entities. This is in line with the company's objective of gradual

Blackstone in talks to acquire shopping center owner Retail Opportunity

Blackstone is likely to prevail in the auction for ROIC that has also attracted interest from other private equity firms, including Bain Capital, the sources said

Zydus Wellness shares soar 3% on acquiring Naturell (India) for Rs 390 cr

The rise in the share price came after the company announced that it has acquired 100 per cent stake in Naturell (India) Private Limited (NIPL), including its wholly owned subsidiary, for Rs 390 crore

Zydus Wellness board approves acquisition of Naturell India for Rs 390 cr

Zydus Wellness on Wednesday said its board has approved the acquisition of Naturell (India), a maker of healthy snacks such as nutrition bars and protein chips, for Rs 390 crore. The company's board has approved entering into the share purchase agreement with the promoters and other shareholders of Naturell (India) Pvt Ltd to acquire 1,50,78,605 equity shares of Re 1 each, representing 100 per cent of the paid-up share capital, at a consideration of Rs 390 crore, it said in a regulatory filing. "We believe that this acquisition is an opportunity to expand our portfolio by investing in brands and products that resonates with our company's portfolio and today's health-conscious consumers," Zydus Wellness Chairman Sharvil Patel said. The acquisition represents a strategic addition to Zydus Wellness, perfectly aligning with the company's aspirations to expand within the consumer wellness space, he added. Vijay Uttarwar, founder of Naturell (India) said Zydus has a proven track record o

ArcelorMittal SA rejects 19 bn rand buyout offer of Networth Investments

ArcelorMittal South Africa (AMSA) has rejected a 19-billion rand buyout offer by local firm Networth Investments. Networth had planned to transform the country's struggling steel industry with green technology and more profitable stainless-steel production based on models in India. Networth CEO Harold Vermaak told the daily Business Report that his company had put in an offer to buy out ArcelorMittal Group's 60 per cent shareholding in AMSA, and around 2 per cent of AMSA's shares held by other foreign investors, in a leveraged buyout. However, a spokesperson of ArcelorMittal told the daily, "the correspondence (it had received from Networth Investments) does not reflect a firm or a bona fide offer. There is, therefore, no offer to be considered". Vermaak said that the strategy was to convert AMSA over time so that it ceases to produce low-value-priced products, and rather produces higher value products such as stainless steel. He said he had planned to fund the proposed capital ..

Thermax signs pact to acquire Buildtech Products India for Rs 72 crore

Thermax on Friday said it has inked a pact to acquire critical construction chemicals maker Buildtech Products India for about Rs 72 crore. This partnership solidifies Thermax's presence in the construction chemicals sector, the energy and environment solutions firm said in a statement. According to the statement, the company has signed an agreement to acquire a 100 per cent stake in Buildtech Products India Pvt Ltd for approximately Rs 72 crore, subject to various transaction adjustments. Established in 1995, Buildtech Products India manufactures admixtures, accelerators and capsules used in tunnels, infrastructure and railway projects. The Indian construction chemicals market is worth USD 3.76 billion and is expected to reach USD 5.17 billion by 2030 with a CAGR (compound annual growth rate) of 5.64 per cent, it stated. The acquisition of Buildtech will be completed in due course. "Chemicals has been a key area of investment for Thermax. Buildtech's products have created a nich

Acquisition of railway biz of Escorts Kubota, healthy Q2 lift Sona BLW 11%

The surge in Sona BLW share price came on the back of acquisition of the railway business division of Escorts Kubota Limited (EKL), coupled with a healthy Q2FY25 results

CD&R makes Rs 2,983 cr offer for 26% stake in Sanofi Consumer Healthcare

Global investment firm CD&R on Monday announced an open offer to acquire a 26 per cent stake in Sanofi Consumer Healthcare India Ltd for an aggregate of up to Rs 2,983 crore. The development follows Sanofi and Clayton, Dubilier & Rice (CD&R) entering into exclusive negotiations whereby CD&R Group has agreed to acquire a controlling stake in Opella, which holds a 60.4 per cent stake in Sanofi Consumer Healthcare India. The offer is made at a price of Rs 4,982.05 per share, aggregating to a total consideration of up to Rs 2,983.23 crore, according to the offer letter by Citigroup Global Markets India, the manager of the transaction, shared on BSE by Sanofi Consumer Healthcare India. The open offer has been triggered by Sanofi and CD&R entering into exclusive negotiations for the potential sale and purchase of a 50 per cent controlling stake in Opella, Sanofi's consumer healthcare division. The valuation of Opella is based on an enterprise value of 16 billion ...

Neither Reliance, nor Saregama, Poonawalla gets 50% stake in Johar's Dharma

Adar Poonawalla's Serene Entertainment has acquired a 50 per cent stake in Dharma for Rs 1,000 crore

Kotak Mahindra Bank to buy Rs 4.1K cr India personal loan book of StanC

This deal marks the second significant transaction between an Indian private sector bank and a foreign bank in recent years

Accenture elevates Kishore Durg as group operating officer-technology

In August this year, Accenture announced the elevation of Arundhati Chakraborty as group chief executive of Accenture Operations

Sudarshan Chemical to buy global pigment biz of Heubach for Rs 1,180 cr

Sudarshan Chemical Industries Ltd on Friday said it will acquire global pigment business operations of the Heubach Group of Germany for a total consideration of Euro 127.5 million (about Rs 1,180 crore). The company has entered into definitive agreement on October 11, 2024, whereby Sudarshan Europe BV, a wholly-owned subsidiary in the Netherlands, will acquire the global pigment business operations of the Heubach Group of Germany, Sudarshan Chemical Industries Ltd (SCIL) said in a regulatory filing. The acquisition is for a cash consideration of Euro 127.5 million (about Rs 1,180 crore), it added. The proposed transaction includes the acquisition of assets and business operations of Heubach Colorants Germany GmbH, Heubach GmbH (c) Dr Hans Heubach GmbH, and Heubach Group GmbH and participations held by Heubach Holding Switzerland AG, in downstream Group Companies in various countries from insolvency administrator in the aforesaid countries, the filing said. It also includes the ...

Good Glamm Group acquires Sirona Hygiene for Rs 450 cr in all-cash deal

This marks one of the largest cash exits for a direct-to-consumer startup in the women's health and well-being space

CCI approves JM Financial's 43% stake buy in JM Fin Credit Solutions

Fair trade regulator CCI on Tuesday cleared JM Financial's proposed acquisition of a 43 per cent stake in JM Financial Credit Solutions Ltd. JM Financial Credit Solutions is an RBI-registered systemically important non-deposit-taking non-banking finance company (NBFC). It is a subsidiary of JM Financial Ltd (JMFL). It is engaged in wholesale lending activities with a primary focus on real estate financing and corporate financing. "The proposed combination envisages acquisition of 42.99 per cent of the total paid-up share capital of JM Financial Credit Solutions Ltd (JMFCSL) by JM Financial Ltd (JMFL)," CCI said in a release. JMFL, a BSE and NSE-listed entity, is the operating cum holding company of the JM Financial Group, that provides integrated and diversified financial services on its own and through its subsidiaries. Its primary business includes investment banking business, and private equity fund management, along with undertaking operations of private wealth and portfolio .

Amazon buys MX Player, merges it with miniTV to launch Amazon MX Player

Amazon on Monday said it has acquired free streaming OTT platform MX Player and merged it with its content streaming service miniTV to launch 'Amazon MX Player'. Amazon did not disclose the valuation of the acquisition. The merger aims to make premium-free entertainment accessible to a larger audience. "Amazon recently acquired certain assets of MX Player, including the MX Player app, a leading free streaming OTT service in India. With this acquisition, Amazon is merging two of India's most popular free AVOD (or ad-supported video on demand) services -- MX Player and Amazon miniTV into one service -- Amazon MX Player," the statement said. In September, over 250 million unique users enjoyed access to thousands of original shows, popular movies and international shows dubbed in local languages on the combined service, it added. The service is available through its app on mobile, Amazon.in Shopping app, Prime Video, Fire TV, and Connected TVs. The integration of Amazon miniTV and MX

BoB to sell Oman operation to Bank Dhofar as part of rationalisation

State-owned Bank of Baroda (BoB) on Thursday said it proposes to sell its Oman operation to Bank Dhofar as part of rationalisation of foreign operation. The bank has accorded approval for accepting the offer for acquisition of the banking business of Bank's Oman territory operations by Bank Dhofar on a going concern basis, BoB said in a regulatory filing. This is subject to approval from concerned regulatory authorities, it said. The total business of BoB operation in the country was 113.35 million Omani Rial while the net worth stood at 25.54 million Omani Rial. It is to be noted that the bank has been rationalising its foreign operations based on a comprehensive evaluation framework. As part of this exercise, the wholesale branch in China was closed during 2020-21, and the entire stake in the wholly-owned overseas subsidiary at Trinidad and Tobago viz. Bank of Baroda (Trinidad and Tobago) Ltd was divested by way of sale to Ansa Merchant Bank Ltd. As of March 31, 2024, the BoB's

PepsiCo to buy Texas-based tortilla-chip maker Siete Foods for $1.2 billion

Texas-based Siete Foods, founded in 2014 by Veronica Garza, also makes products such as enchilada sauce and Mexican wedding cookies

Dr Reddy's completes acquisition of Haleon's global NRT portfolio

DRL's Swiss subsidiary completed the acquisition through the purchase of shares of Northstar Switzerland SARL, a Haleon group company