Page 9 - Acquisition

Food delivery major Zomato denies it is acquiring logistics firm Shiprocket

Deal for $2 bn is 'incorrect news, media speculation', says company in response to reports

Zomato denies reports of an offer to acquire Shiprocket for $2 billion

Earlier, Bloomberg had reported that Zomato had made an offer to acquire Shiprocket

JSL gets board approval to acquire Rabirun Vinimay for Rs 96 crore

Jindal Stainless Limited (JSL) on Tuesday said its board of directors has approved the acquisition of Rabirun Vinimay Private Ltd which is under liquidation. The cost of the acquisition is Rs 96 crore, JSL said in a regulatory filing. "The Board of Directors accorded its consent for acquisition of 100 per cent stake in Rabirun Vinimay Private Limited (RVPL), a company under liquidation, on a going concern basis, in terms of the applicable provisions of Insolvency and Bankruptcy Code, 2016," it said. JSL said RVPL has potential downstream cold-rolling manufacturing capacity of 250 KTPA (kilo tonne per annum) for wider and thinner segment besides having a capacity of 50 KTPA for pipe and tube segment. Its plant is located at Vidyasagar Industrial Park, Kharagpur, West Bengal over 60 acres of land area. The plant is currently shut down. "The proposed acquisition would complement the management's objective of increasing the cold-rolling capabilities of going thinner with wider width to

Tata Consumer Products in talks for acquisitions to expand globally: Report

CEO Sunil D'Souza hinted that the company would not acquire in the sector where there is already fragmentation like fizzy drinks and processed snacks

SpiceJet initiates fresh funding of $270 mn for Go First acquisition

SpiceJet is among three companies that have shown interest in acquiring the bankrupt airline

Kaynes Tech begins Rs 1,400 cr QIP; to acquire US-based firm for $2.5 mn

The QIP floor price is set at Rs 2,449.96 per share, and issue price will be determined after a committee meeting on December 21

Samvardhana Motherson Intl to acquire Lumen Gr, Deltacarb SA for Rs 575 cr

Auto components major Samvardhana Motherson International Ltd on Friday announced acquisitions of Australia's Lumen Group and Deltacarb SA of Switzerland for nearly Rs 575 crore. The company's board approved the two acquisitions of the Lumen Group and Deltacarb SA by its wholly-owned arm Samvardhana Motherson Automotive Systems Group BV, Samvardhana Motherson International Ltd (SAMIL) said in separate regulatory filings. Lumen Group comprises Lumen Australia Pty Ltd, Lumen International Holdings Pty Ltd (which further holds 100 per cent in Lumen North America, Lumen Thailand, Lumen Europe and 90 per cent in Lumen South Africa), Lumen Engineering Solutions Pty Ltd and Lumen Special Conversions Pty Ltd, it said. However, it will not include Lumen South Africa and merger control approvals are required from the authorities in South Africa, the company said. The acquisition of Lumen group is expected to be closed by the fopurth quarter of FY2023-24 subject to satisfactory completion of

Tata Capital eyes fashion brand Rare Rabbit at $300 mn valuation: Reports

Rare Rabbit was started in 2015 by an Indian family-run company Radhamani Textiles, and sells shirts, jeans, jackets and sneakers that are priced as low as $20 and all the way up to the high-end range

Infibeam Avenues picks up 49% stake in Ahmedabad-based Pirimid Fintech

The partnership aims to combine Infibeam's digital payments and AI-based frameworks with Pirimid Fintech's capital market trading software for its clients nationwide and globally

Nippon Paint announces acquisition of VIBGYOR Paints and Chemicals

After the acquisition, VIBGYOR Paints and Chemicals will become a division of Nippon Paint India, leveraging its resources and reach to further its growth and market leadership

Poonawalla HF gets a new name, rebrands as Grihum Housing Finance

The global private equity firm -- TPG acquired a 99.02 per cent equity stake in the company, taking over from Poonawalla Fincorp earlier this year

Sun Pharma revises upwards price to fully acquire Taro to $43 per share

Sun Pharmaceutical Industries on Tuesday said it has revised upwards the price at which it proposed to fully acquire Israel-based Taro Pharmaceutical Industries to USD 43 per share in cash. In May this year, the company announced a non-binding indication of interest to acquire all of the outstanding ordinary shares of Taro for a purchase price of USD 38 per ordinary share in cash through a reverse triangular merger. Subsequently, the company was engaged in multiple rounds of price negotiations with a special committee of the Board of Directors of Taro regarding the proposal. Such negotiations resulted in the company communicating to the special committee updated terms pursuant to which the company has proposed to acquire all of the outstanding shares of Taro's ordinary shares for a purchase price of USD 43 per share in cash, Sun Pharmaceutical Industries said in a regulatory filing. Further, the company said that on December 10, the special committee confirmed that it agreed in ...

LIC to infuse Rs 25 crore into its subsidiary LIC MF Asset Management

LIC MF ranks 23rd among fund houses in terms of assets under management (AUM). In the September 2023 quarter, the fund house's average AUM was Rs 24,257 crore

Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal with debt

Alaska Air Group said Sunday it agreed to buy Hawaiian Airlines in a $1.9 billion deal including debt. The combined company would keep both airlines' brands, which call the 49th and 50th states their homes. Alaska will pay $18 in cash for each share of Hawaiian, whose stock closed Friday at $4.86. The deal also includes $900 million in Hawaiian debt, which the airlines said brings the acquisition's total value to $1.9 billion. The deal still needs approval from the boards of both companies, as well as from the shareholders of Hawaiian Holdings. It will also need the blessing of U.S. regulators, which have shown resistance to more consolidation within the airline industry out of fear it could lead to higher fares. The companies expect the deal to close in 12 to 18 months.

Tata Power acquires Bikaner-Neemrana Transmission Project via bidding

Tata Power on Saturday said it has acquired Bikaner-Neemrana Transmission Project through a bidding process. Bikaner-III Neemrana-II Transmission Ltd is a special purpose vehicle (SPV) set up by PFC Consulting, for the project. The company has acquired Bikaner-Neemrana Transmission Project to boost renewable energy evacuation in India, a company statement said. The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by Ministry of Power, it added. The project, which will be developed on a Build-Own-Operate-Transfer (BOOT) basis, will enable the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project entails establishment of a 340-km transmission corridor from Bikaner-III pooling station to Neemrana II substation. Tata Power will maintain the transmission project for a period of 35 years. It is estimated to cost Rs 1,544 crore and i

Reliance Retail, Naturals Salon call off acquisition deal over valuation

Last year, Business Standard reported that Reliance Retail would foray into the salon business by acquiring a 49% stake in Naturals Salon & Spa

Philips Carbon Black to acquire Aquapharm Chemicals for Rs 3,800 crore

The acquisition of Aquapharm Chemicals Private Limited marks the company's foray into global specialty segments of water treatment chemicals and oil & gas chemicals

Open to acquisitions in health, personal care categories: Dabur Chairman

Dabur India is the maker of Hajmola and Fem beauty bleach

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