Page 2 - Merger And Acquisition

7-Eleven parent's new security rating won't affect a buyout: Japan minister

Seven & i this month rejected a $38.5 billion offer from Circle-K owner Couche-Tard, citing concerns about price

Nazara to acquire PokerBaazi parent Moonshine Technology for Rs 982 cr

PokerBaazi is India's largest online poker platform, contributing over 85% of Moonshine's net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%

Sebi approves IIHL's acquisition of PMS business unit of Invesco AMC

Capital market regulator Sebi has granted its approval to Hinduja Group firm IndusInd International Holdings for the acquisition of Invesco AMC's portfolio management services business. According to sources, Sebi's approval marks the completion of a crucial phase in IndusInd International Holdings Limited's (IIHL) 60 per cent acquisition of Invesco AMC, leaving only one final regulatory approval before the transaction can be completed. An application seeking the Securities and Exchange Board of India's green signal for grant of sponsor approval to IIHL is in process and upon receipt, IIHL will proceed with consummation of the transaction, sources said. The Competition Commission of India (CCI) has already granted its consent to IIHL for acquiring 60 per cent shareholding in each of InvescoAsset Management (India) Pvt Ltd and Invesco Trustee Pvt Ltd. IIHL will be holding the investment through its wholly-owned and controlled subsidiary. The company had earlier bid and emerged ...

Adani Ports to acquire 80% stake in Astro Offshore for $185 million

The company in a statement said the existing promoters of Astro will hold the remaining 20 per cent stake

RIL-Disney India merger worth $8.5 billion receives approval from CCI

Combined entity now India's largest entertainment conglomerate, with a portfolio of 120 channels and two streaming services

Medi Assist set to buy Paramount Health at enterprise value of Rs 312 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 at an enterprise value of Rs 311.8 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 acquisition represents one of the largest TPA deals in India, with an enterprise value of Rs 311.8 crore, subject to regulatory (Irdai) approvals, it added. Paramount TPA works with 30 insurers and over 3,000 group customers and retail ...

Infosys eyes acquisitions, more 'in-tech' buys possible: CEO Salil Parekh

After two acquisitions this year, India's second-largest IT services company Infosys is on the lookout to scoop-up more firms and says the acquisition matching scale of recent in-tech buy is certainly a possibility. In an interview to PTI, Infosys CEO Salil Parekh said the company is keen on acquisitions in areas like data analytics, SAAS, and may look at some geographies within Europe, and the US. Asked if more acquisitions could be of the scale matching in-tech, which came with a price-tag of 450 million euros, Parekh said, "Absolutely, I think those would be the size that we will look at in terms of scale, and given our structure we could do a few of those." Back in January, Infosys announced a definitive agreement to acquire 100 per cent of the equity share capital in InSemi Technology Services, a semiconductor design services company headquartered in India, for a consideration (including earn-outs, and management incentives and retention bonuses) totalling up to Rs 280 crore.

Global caution sends private equity-backed M&A deal value to 6-year trough

A private equity fund gathers money from investors, particularly high networth individuals and invests in high-return opportunities

White Matter Advisory acquires 90% stakes in fintech startup Fairexpay

Treasury risk consulting firm White Matter Advisory on Monday announced the acquisition of a 90 per cent stake in fintech startup Fairexpay for an undisclosed amount. The acquisition will help White Matter Advisory in expanding its portfolio in the area of cross-border remittance and fund collection services, a release said. White Matter Advisory, operating under the name SaveDesk (White Matter Advisory India Pvt Ltd), is in the treasury risk advisory sector. It oversees funds under management (FUM) totalling USD 8 billion, offering advisory services to a wide range of clients. Bangalore-based White Matter Advisory helps businesses navigate the complexities of treasury and risk management. Fairexpay, authorised by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalized Remittance Scheme (LRS) Regulatory Sandbox, boasts features, including best-in-class FX rates, 24-hour processing time, and comprehensive security compliance. "With this acquisition, White Matter Advisory

Citi to boost investment banking headcount in India betting on M&A surge

MUMBAI (Reuters) - Citigroup plans to bolster the headcount in its India investment banking unit, betting on a surge in equity capital market and M&A deals in one of the world's fastest growing economies, a top country executive said.

India Inc registers 501 deals valued at $21.4 bn in Q2 2024: Report

India Inc has recorded a total of 501 deals valued at USD 21.4 billion in Q2 2024, according to Grant Thornton Bharat Dealtracker. As per the consultancy firm, Q2 2024 witnessed the highest quarterly volumes in two years, while values declined due to the absence of big-ticket M&A transactions. The merger and acquisition (M&A) and PE deals taken together stood at 467, valued at USD 14.9 billion, reflecting a 9 per cent increase in volumes but a 28 per cent decrease in value, primarily due to the previous quarter's USD 8.5 billion Reliance-Disney mega-merger, Grant Thornton said. The just-ended quarter featured a one-billion-dollar deal and 30 high-value deals (over USD 100 million), which translates to a 58 per cent increase in high-value deals compared to the previous quarter. "Indian corporates are increasingly investing domestically, reflecting strong confidence in the local investment climate," Grant Thornton said in a release. Despite declining cross-border deals due to ...

Dr. Reddy's to acquire Haleon's nicotine replacement biz for 500 mn pounds

The acquisition includes Nicotinell, a global leader in the NRT category, and its local market-leading brand names Nicabate, Habitrol, and Thrive

Govt must ensure corp takeovers are fair, monopolies not created: Cong

The Congress on Saturday said it is the government's responsibility to ensure that competition among corporates is not stifled, oligopolies or monopolies do not emerge and corporate takeovers are free and fair. It is also the government's responsibility to ensure that undue advantage arising out of access to political power is not exercised, party general secretary Jairam Ramesh said. His comments came after the Adani Group acquired Penna Cements while strengthening its share in the cement sector in southern India. "Aap chronology samajhiye (understand the chronology): September 2022: Adani acquires Ambuja Cements and ACC, to become country's second largest cement player. August 2023: Adani acquires Sanghi Industries, India's largest single-location cement unit. June 2024: Adani acquires Penna Cements, giving it substantial market share even in the last remaining region of South India." he said. "Upcoming: Adani is exploring the acquisition of Saurashtra Cement, Vadraj Cement, and

UST acquires Endeavor Consulting Group for an undisclosed amount

Founded in 2006, Endeavor serves clients in North America and Europe and has expertise in life sciences sectors

RCap lenders can't take coercive action against IIHL, rules NCLT

IIHL seeks 90-day extension ahead of May 27 deadline

M&A activity: Deals fell 60% in April to $5.19 bn despite more transactions

The overall deal activity by value declined by a sharp 60 per cent to USD 5.192 billion in April as compared to the preceding March's USD 12.934 billion, a report said on Monday. This was despite a 24 per cent increase in the number of deals at 176 during the month, the report by a consultancy firm said. The highest decline by value was in the merger and acquisitions transactions, which came down 75 per cent to USD 2.526 billion when compared with USD 10.212 billion in March, while the private equity transactions by value were marginally down at USD 2.666 billion, the report by Grant Thornton Bharat said. Within the broader M&A, the decline was sharpest in outbound deals that plummeted to USD 24 million as against USD 9.072 billion a month ago, it said. The Adani group's 8 per cent stake increase in Ambuja Cement and ACC for a cumulative USD 1.8 billion in two transactions was the highest M&A activity of the month, it said. "The deal outlook for 2024 continues to remain ...

Venturi Partners purchases stake of $27 million in K12 Techno Services

K12 Techno is a platform operating in the private education sector in India

Adani Energy Solutions arm to acquire 100% stake in Pointleap Projects

Adani Electricity Mumbai Ltd on Thursday signed an agreement to acquire 100 per cent stake in Pointleap Projects Pvt Ltd (PPPL) for a consideration of Rs 13.15 crore. Adani Electricity Mumbai Limited (AEML) is a subsidiary of Adani Energy Solutions Ltd (AESL). "AEML today executed Share Purchase Agreement (SPA) with Windson Projects LLP (WPLLP) for acquiring 100 per cent equity shares of PPPL," AESL said in a regulatory filing. The acquisition is expected to be completed within 4-5 working days from the execution date of SPA, it said.

Airtel appoints Ambareesh Mandelia as head of M&A, business development

Bharti Airtel on Wednesday said it has appointed Ambareesh Mandelia as head of M&A and business development. Before joining Airtel, Mandelia was heading the corporate health and wellness business units at Tata 1mg, along with corporate strategy. "Ambareesh Mandelia has been appointed as Head M&A and Business Development of the Company with effect from May 01, 2024," Airtel said in a regulatory filing. Mandelia is a qualified chartered accountant from the Institute of Chartered Accountants of India, 2003 batch. He has over 20 years of experience in investment banking, mergers and acquisitions, strategy and corporate development.

CESC acquires co building 300 MW solar park in Rajasthan for Rs 3.84 cr

CESC Ltd on Friday said one of its step-down subsidiaries has completed the acquisition of a company that is in the process of implementing a 300-MW solar park in Rajasthan. The acquisition aims at bolstering the renewable energy portfolio of the power utility. In a regulatory filing, CESC said Purvah Green Power has completed the acquisition of the 100 per cent stake in Bhadla Three SKP Green Ventures at a consideration of Rs 3.84 crore. The power utility said that the acquired company is developing a solar park with a capacity of 300 MW in Phalodi district of Rajasthan, and its operations are entirely based in India. "The target company has not yet generated any revenue, as its project is still under development. However, it has obtained the necessary approval from the central transmission unit for interstate evacuation of solar power with a capacity of 300 MW and has partially acquired land," CESC said in the filing. The power utility did not provide details regarding the ...