Page 5 - Acquisition

M&A deal value slows 9% to $38 billion in the first half of 2024

Deals to pick up in the second half, say bankers

HDFC Capital Advisors acquires 8.5% stake in TruBoard Technologies

HDFC Capital Advisors on Monday said it has acquired an 8.5 per cent stake in Truboard Technologies Pvt Ltd. TruBoard has developed a technology platform called TruGenie for real estate asset management which aims to address the needs of investors, asset owners and developers. TruGenie is currently being used by some of the top private banks and real estate funds, a statement said. "Our investment in TruBoard is part of the H@ART initiative which has been set up to invest and partner in technology companies that bring efficiencies in the real estate ecosystem," Vipul Roongta, Managing Director and CEO of HDFC Capital, said. TruBoard Co-Founder Vipul Thakore said this strategic investment by HDFC Capital is a testament to our vision and the value we bring to the industry. This strategic investment will help in accelerating technology enhancements, expand market reach, and ensure robust infrastructure and customer support for future growth, the statement added.

Boeing planning to acquire key supplier Spirit AeroSystems for $4.7 bn

Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice. Boeing previously owned Spirit, and the purchase would reverse a longtime Boeing strategy of outsourcing key work on its passenger planes. That approach has been criticized as problems at Spirit disrupted production and delivery of popular Boeing jetliners, including 737s and 787s. We believe this deal is in the best interest of the flying public, our airline customers, the employees of Spirit and Boeing, our shareholders and the country more broadly, Boeing President and CEO Dave Calhoun said in a statement late Sunday. Concerns about safety came to a head after the Jan. 5 blowout of a panel on an Alaska Airlines 737 Max 9 at 16,000 feet over Oregon. The Federal Aviation Administration soon after announced increased oversight of Boeing and Spirit, which supplied the

TVS Mobility arm acquires automotive components supplier Roberto Nuti

TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the global market. The pact between the two partners includes the 100 per cent purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs Private Limited and investments appropriate to the full re-launch of the company, TVS Mobility group said in a statement. It also said that both companies will continue to operate normally during the integration period. TVS Mobility has a well-established presence in Europe with some of the other businesses that are part of the group such as TVS Supply Chain Solutions and TVS Srichakra Ltd. Following this collaboration, the Bologna (Italy)-based group will now operate on a more international scale, benefiting from the market and product leadership of TVS Mobility, it said. "T

TPG agrees to acquire majority stake in digital services firm Altimetrik

TPG said in May it secured approximately $5.3 billion in capital commitments for its Asia VIII fund, making it the largest in its 30-year history investing in the region

JSW Infra buys 70.4% stake in logistics firm Navkar Corp for Rs 1,013 cr

An open offer will be made to the rest of the shareholders of Navkar Corporation which will cost around Rs 412.17 cr

Board of Axis Bank gives nod to hike stake in Max Life for Rs 336 cr

Max Life Insurance is a subsidiary of Max Financial Services

Cipla to invest additional 3 mn euro in mRNA technology company Ethris

The aim is to accelerate Cipla's entry into the mRNA space and deliver innovative mRNA-based therapies, particularly targeting respiratory treatments, to patients in emerging markets

PwC India expects rise in small, mid-size merger & acquisition transactions

PwC India anticipates an upswing in the India markets, especially in small to mid-size M&A (merger and acquisition) transactions and growth fundings driven by increasing investors' confidence. The year 2023 witnessed the emergence of a nuanced M&A landscape, with investors showing interests in diverse strategies and larger-scale ventures, even amid an overall decrease in PE investment, said Sanjeev Krishan, Chairperson, PwC in India. While PE deals were higher in volume, strategic deals dominated the top deals -- and domestic deals with group-level consolidations were a prominent theme. The first quarter of 2024 marked a resurgence in deal value and volume. According to a PwC report, top 10 deals of 2023 included JV buyouts, strategic investments, PE buyouts, and stock mergers, and contributed to 21 per cent of the total deal value. While PE deals were higher in volume overall, strategic deals dominated the top deals with domestic deals and group-level consolidations as a ...

Bank of India acquires over 6% stake in recently incorporated CCIL IFSC

State-owned Bank of India on Monday said it has acquired a 6.125 per cent stake in the recently incorporated CCIL IFSC, listed in GIFT SEZ, reflecting its commitment to the growth of IFSC. The announcement was made by Bank of India's Executive Director (International Operations) Subrat Kumar in GIFT City while speaking at an event to mark the first anniversary of the bank's IFSC Banking Unit in GIFT City. "The acquisition of 6.125 per cent stake in CCIL IFSC for Rs 6.125 crore showcases our strategic commitment towards the growth of GIFT City IFSC and its emergence as a global financial services provider," Kumar said. Promoted by Clearing Corporation of India Limited (CCIL), CCIL IFSC is the proposed entity to build and operate a real-time foreign currency settlement system at GIFT City, the country's only operational international financial services centre. The entity will act as a clearing house and system operator at GIFT City. The foreign currency settlement system is expected

Cognizant Technology to acquire Belcan for $1.3 bn in cash and stock

The acquisition is expected to significantly expand Cognizant's ER&D capabilities, building upon the company's existing strengths in the Internet of Things (IoT) and digital engineering practice areas

Brookfield India REIT to acquire Bharti Enterprises' stake in realty JV

Following this, Bharti would become the second largest unitholder in Brookfield India REIT with an ownership stake of 8.53%

Manipal Hospitals rebrands AMRI units eight months after acquisition

Manipal Hospitals, which acquired an 84 per cent stake in AMRI Hospitals in September 2023 for around Rs 2,300 crore, announced brand integration on Tuesday

Uber to take over Delivery Hero's food panda biz in Taiwan for $1.25 bn

Asia has become Delivery Hero's biggest market after its $4 billion deal in South Korea in 2019 but the company has been trying to divest some of its assets in the region to improve profitability

Warburg Pincus to acquire Shriram Housing Finance for Rs 4,630 crore

Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment from all the sellers

Vedanta to fully acquire Japanese display glass major AvanStrate

Mining billionaire Anil Agarwal-led Vedanta Ltd of Friday announced that it has acquired an additional 46.57 per cent stake in Japanese glass substrate manufacturer AvanStrate Inc. With this acquisition, Vedanta's total holding in AvanStrate has increased to 98.2 per cent. The transaction is likely to be completed by the first quarter of the current financial year. "The board of directors of Vedanta Limited on Friday... have approved the acquisition of additional stake of 46.57 per cent in AvanStrate Inc (ASI) (an indirect subsidiary of the Company with 51.63 per cent holding) from HOYA Corporation, Japan through Cairn India Holdings Ltd (CIHL), a wholly-owned subsidiary of the company," the mining conglomerate said in a filing to the BSE. Vedanta had bought a controlling stake in the Japanese company in 2017 for USD 158 million. The acquisition of AvanStrate aligns with the company's vision of pivoting towards technology and diversifying into hi-tech manufacturing, while expanding

Value of mergers and acquisitions at lowest level in at least 76 months

With 98 deals, the total value of M&A stood at $1.8 billion. In the same month last year, the value was $8 billion across 204 deals

TVS Holdings to acquire 80.74% in Home Credit India for Rs 554 cr

2 companies will need approval from the Competition Commission and Supreme Court for deal

Happiest Minds to acquire US-based Aureus Tech Systems for $8.5 million

This is the third acquisition by Happiest Minds in FY25. In April, it acquired PureSoftware Technologies for $94.5 million (Rs 784 crore) and Macmillan Learning India for Rs 4.5 crore

Paramount Global in talks to open its books to Sony Pictures and Apollo

A special committee of Paramount's board that is evaluating the company's options allowed an exclusivity period to lapse in its deal discussions with Skydance last week