Page 3 - Acquisition

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

Dr Reddy's Laboratories on Monday said its Switzerland-based subsidiary has completed the acquisition of Haleon plc's global portfolio of consumer healthcare brands, outside of the US, in the Nicotine Replacement Therapy (NRT) category. Dr Reddy's Laboratories SA has completed the acquisition through the purchase of shares of Northstar Switzerland SARL, a Haleon group company. "We would like to inform you that acquisition has now been completed, and the company has made payment of upfront cash consideration of GBP 458 million," the Hyderabad-based drug major said in a regulatory filing. As part of the acquisition, Northstar Switzerland along with its wholly-owned subsidiaries North Star OpCo and North Star Sweden AB (Sweden) are now wholly-owned step-down subsidiaries of the company with effect from September 30, 2024, it added. The acquired portfolio consists of Nicotinell, a global leader in the NRT category with an extensive footprint in over 30 countries spanning Europe, Asia .

Adda247 acquires PrepInsta to expand into tech and digital skilling space

With this acquisition, Adda247 will enhance its offerings in artificial intelligence, cloud computing, and data science, positioning itself as a leader in developing top talent for global digital firm

Authum Invt hits 5% upper band as board okays stake buy in Prataap Snacks

Authum Investment's board approved the 42.31 per cent acquisition of Prataap Snacks

Pluckk buys 100% stake in wellness brand Upnourish to tap nutrition market

Pluckk's sales are divided across several channels, with 10-20 per cent coming from direct sales, 40-50 per cent from quick commerce, 20-30 per cent from e-commerce, and 10-15 per cent through retail

Authum, Mahi Kela to acquire 46.85% stake in Prataap Snacks for Rs 846.6 cr

Authum Investment & Infrastructure, along with Mahi Madhusudan Kela, will acquire a 46.85 per cent stake in Prataap Snacks, the Indore-based packaged foods company that owns the snack brand Yellow Diamond and sweet snacks brand Rich Feast, in a deal valued at Rs 846.60 crore. They have entered into a share purchase agreement on Thursday to acquire the entire 46.85 per cent shareholding, which is around 1.02 crore equity shares, from its three Private Equity promoters, according to an early morning filing by Prataap Snacks. The three Private Equity promoters -- Peak XV Partners Growth Investments I, Peak XV Partners Growth Investment Holdings II and Sequoia Capital GFIV Mauritius Investments hold stakes of 2.48 per cent, 34.65 per cent, and 9.72 per cent, respectively. "The acquirer and PAC (Persons Acting in Concert) have entered into a share purchase agreement dated September 26, 2024, with the sellers, pursuant to which the acquirer has agreed to acquire from the sellers 1.02 ..

OYO to acquire iconic Motel 6 brand in $525 million all-cash deal

IPO-bound travel tech platform OYO on Saturday announced it has agreed to acquire iconic American budget hotel chain Motel 6 and Studio 6 brands from Blackstone Real Estate for USD 525 million in an all-cash transaction, as the Indian unicorn eyes expansion in the US. Oravel Stays, the parent company of OYO stated that it has agreed to acquire G6 Hospitality, the leading economy lodging franchisor and parent company of Motel 6 and the chain's offshoot hotel brand, Studio 6. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. Motel 6's franchise network produces gross room revenues of USD 1.7 billion, which generates a strong fee base and cash flow for G6. OYO will leverage its comprehensive technology suite as well as its global distribution network and marketing expertise to further strengthen the Motel 6 and Studio 6 brands and drive continued financial growth, it stated. The travel tech platform has steadily expanded its

EQT to acquire 100% stake in Indostar Home Finance for Rs 1,750 crore

The fund will also invest an additional Rs 500 crore to fuel the company's geographic expansion and digital transformation

EaseMyTrip enters medical tourism; board approves Rs 90 crore acquisitions

EaseMyTrip has acquired a 30% stake in Rollins International for Rs 60 crore and a 49% stake in Pflege Home Healthcare for Rs 30 crore

Zydus Lifesciences to acquire Sterling Biotech's API biz for Rs 84 crore

Zydus Lifesciences Ltd on Tuesday said it will acquire the 'Target Business' of Sterling Biotech primarily engaged in manufacturing of fermentation-based active pharmaceutical ingredients products and a production facility at Masa in Gujarat for a pre-agreed sum of Rs 84 crore. In August this year when Zydus acquired a 50 per cent stake in Sterling Biotech Ltd (SBL), the company negotiated for the right to acquire the 'Target Business' of SBL at a pre-defined value. "This right has been exercised by the company," Zydus Lifesciences said in a regulatory filing. The board of directors of the company at their meeting held on September 17, 2024, have approved a business transfer agreement (BTA) to purchase the active pharmaceutical ingredients (API) business -- the Target Business -- of SBL, on a going concern basis, on slump sale basis, without values being assigned to individual assets and liabilities, on cash-free and debt-free basis at a pre-defined lump-sum consideration of Rs 84 .

Max to acquire 64% stake in Jaypee Healthcare at Rs 1,660 cr valuation

Max Healthcare Institute on Friday said it will acquire 64 per cent stake in struggling Jaypee Healthcare for an enterprise value of Rs 1,660 crore. The company has entered into a strategic agreement with Lakshdeep Group, the promoter of Jaypee Healthcare Ltd (JHL) which is undergoing Corporate Insolvency Resolution Process (CIRP), Max Healthcare said in a regulatory filing. The collaboration and proposed acquisition will give Max Healthcare a controlling stake in JHL, including its flagship asset, the 500-bed Jaypee Hospital in Noida, it added. Under the agreement, Max shall organise debt for repayment of admitted claims of the financial creditors of JHL and proposes to simultaneously acquire 64 per cent stake in the company, with call and put option for the remaining stake, it said. The acquisition is based on an enterprise value of Rs 1,660 crore, reflecting JHL's strong market position, which includes two operational hospitals -- 500-bed Jaypee Hospital, Noida and 200-bed Jayp

Mankind Pharma plans Rs 9,000 crore raise for Bharat Serums acquisition

The move will position Mankind as a leader in the gynaecology-fertility segment, with an anticipated market share of around 20%, surpassing Emcure

Blackstone close to $13.5 billion deal to acquire Australia's AirTrunk

A deal hasn't been finalized and terms could change as talks continue, the people said. Representatives for Blackstone, Macquarie and PSP declined to comment

Adani Wilmar eyes FMCG expansion, sets aside $1 billion for 3 acquisitions

Adani Wilmar is planning to purchase at least three brands specialising in spices, ready-to-cook foods, and packaged edibles

Seven & I shareholder urges company for negotiations with Couche-Tard

he Canadian operator of Circle K hasn't disclosed terms or a price for its proposed buyout of Seven & i, which currently has a market value of 5.47 trillion yen ($37 billion)

BLS International acquires 51% stake in SLW Media for Rs 80.24 lakh

Visa processing and consular services provider BLS International on Saturday said it has acquired a 51 per cent stake in sports management company SLW Media for a value of Rs 80.24 lakh. The company has entered into a definitive share purchase agreement to acquire a 51 per cent stake in SLW Media for a value of Rs 80.24 lakh, SLW Media said in a statement. The acquisition aligns perfectly with BLS International's extensive global presence, allowing for seamless integration of golf events with its visa and travel services across more than 66 countries, it said. SLW Media is a prominent sports management company with over two decades of experience in the golf industry. "With this acquisition we are driving a transformative leap in our brand equity. This partnership acts as a powerful vehicle to elevate our global presence and position us strategically on the world stage. Our unified approach underscores our dedication to innovation and excellence, setting a new benchmark for success

GRM Overseas buys stake in Rage Coffee in push into new-age brands

The company becomes the largest shareholder in three-year-old Rage Coffee's parent, whose investors include Sixth Sense Ventures, and prominent figures such as cricketer Virat Kohli

Zomato completes acquisition of Paytm's entertainment ticketing biz

The new business will be spun off into a separate going-out app, District, in the coming few weeks

Medi Assist to fully acquire Paramount Health in a deal worth Rs 400 cr

Medi Assist Healthcare Services, which offers third-party administration services to insurance firms, on Monday said it will fully acquire Paramount Health Services & Insurance TPA in a deal valued at over Rs 400 crore. Medi Assist Insurance TPA, a wholly-owned subsidiary of Medi Assist Healthcare Services, has inked a pact with Fairfax Asia and Nayan Shah & family to acquire Mumbai-based Paramount Health Services & Insurance TPA. Paramount is a prominent player in the TPA space, owned by Fairfax Asia and the Shah family. With the acquisition of Paramount TPA, Medi Assist TPA's market share will grow to 36.6 per cent for the group segment and 23.6 per cent of the health insurance industry, by premiums managed, the company said. The deal was concluded at an enterprise value of about Rs 311 crore, and around Rs 110 crore of cash equivalents will be paid as part of the acquisition, it added. The acquisition represents one of the largest TPA deals in India, subject to ...

Medi Assist Insurance TPA to acquire Paramount Health for Rs 312 crore

Paramount TPA works with 30 insurers and more than 3,000 group customers and retail policyholders

Zydus Life shares sink as analysts wary of 'premium' Sterling Biotech buy

Despite the acquisition effort, analysts await details on the joint venture's renewed strategy and planned investments to revitalise SBL's prospects