Page 3 - Mergers And Acquisitions

NCLAT dismisses all challenges to AGI Greenpac's acquisition of HNG

In March 2023, the Competition Commission of India had granted approval to AGI Greenpac's takeover of HNG

IndiGrid to raise Rs 27.5 billion for acquisition, refinancing old debt

Will raise Rs 15 bn in equity; Bond offering Rs 12.5 bn

M&A value nosedives 75% to $32.6 bn in H1 of 2023 despite record volume

The value of merger and acquisition (M&A) deals plunged 75 per cent to USD 32.6 billion in the first half of 2023 even as the number of such deals crossed an all-time high of 1,400, according to industry data. More than 1,400 transactions in the first half, up 5.2 per cent on-year, made the first half of 2023 busiest semiannual period in terms of number of deals since records began in 1980. But the overall value of M&As fell 75 per cent to USD 32.6 billion during the period due to the lack of mega deals above USD 5 billion, unlike last year when the HDFC twins announced the USD 40 billion record-breaking deal last April, according to financial markets data provider Refinitiv, a part of the London Stock Exchange Group. The volume rose because the market saw a healthier level of mid-market transactions dominating the deal street. No deals bigger than USD 1 billion was announced during the first quarter of 2023, but there were four deals within the USD 1-billion range announced ..

Issa brothers to merge Asda with petrol station biz in $2.8-billion deal

The billionaire Issa brothers, Mohsin and Zuber, announced the merger Tuesday

Ipca Labs dips 9%, hits 52-wk low on plan to buy 33.4% stake in Unichem Lab

Brokerages believe the acquisition is expensive, given increased competition in the US generics oral solids space, rising regulatory risks and strong efforts needed to turnaround Unichem Labs

Parliament passes antitrust legislation on overseas mergers & acquisitions

The legislation was approved by the upper house of parliament on Monday. The lower house had ratified it last week. The bill will need a sign off from the president

M&A deals down 80% so far in CY2023 as buyers seek lower valuation

India acquisitions to remain sluggish till corporate sector margins improve, macroeconomic uncertainties ease

M&A, other corporate deals surpass pre-Covid levels in 2022: PwC report

Despite global headwinds, mergers and acquisitions and other corporate deals in India surpassed pre-Covid levels to reach USD 159 billion with as many as 2,103 transactions in 2022, a 29 per cent increase from 2021 in terms of value, said a PwC India report. India demonstrated signs of stable corporate deals defying the trend among most major economies of the world, said the PwC report titled 'Deals in India: Annual Review 2022'. Mergers and acquisitions accounted for a major share of the deal value, boosted by more than 20 large transactions, and reached a record high of USD 107 billion -- almost twice that of 2021. "However, excluding the HDFC Ltd and HDFC Bank merger (worth USD 60 billion), M&A deal values were about 15 per cent lower than that of 2021. Private equity (PE) investments stood at USD 52 billion, 22 per cent lower than 2021 but 20 per cent higher than all other preceding three years in terms of value and quantum," it said. It is to be noted that deal activity ...

India Inc logs 2,007 deals worth $127 bn last year, 6% down from 2021

Bengaluru topped the charts in volumes as most companies were born there, and Mumbai topped in values and accounted for 27 per cent of total values

RateGain acquires travel data exchange platform Adara for $16 million

RateGain Travel Technologies Ltd has announced it is acquiring Adara, a leader in data collection and management in the travel and hospitality space, for $16 million (about Rs 132.4 crore)

2023 may see an M&A surge in insurance sector: Shriram General Insurance MD

As per the trends, the industry is expected to double its CAGR to 10.2% by the end of 2022 from its slowest growth of the decade at 5% from 2021, said Shriram General Insurance Company Ltd MD

Dealmaking slips by almost a third in 2022 marked by volatility, inflation

Companies announced $3.5 trillion of deals in 2022, according to data compiled by Bloomberg

Marico to acquire 100% stake in Vietnamese personal care brand Beauty X

To pay Rs 172 cr under the deal, which is expected to be completed by March 31

What layoffs? Ronnie Screwvala-led upGrad on a hectic expansion spree

In a studied contrarian move, the Ronnie Screwvala-led edtech company is on a hectic expansion spree

Tata Consumer and Tata Coffee shareholders approve merger at Nov 12 vote

Tata Consumer Products will issue one equity share for every 22 share held in Tata Coffee to existing shareholders

Market regulator Sebi plans to streamline disclosure framework

Suggests halving disclosure timeline to 12 hours; proposes mandating top 250 listed firms to confirm/deny media reports

Reliance Retail net profit grows 36% in Q2; revenue up 44.5% YoY

Reliance Retail saw its (gross) revenue at Rs 64,920 crore, up 42.9 per cent year-on-year

Authum Investment acquires Reliance Commercial Finance for Rs 1 crore

Authum Investment and Infrastructure on Friday acquired debt-ridden Reliance Commercial Finance Limited (RCFL) for Rs 1 crore. "This is to inform that the company has sold its holding in wholly-owned subsidiary RCFL to Authum Investment and Infrastructure Ltd in pursuance of the implementation of the resolution plan of RCFL in terms of the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019," Reliance Capital said in a regulatory filing. Authum Investment bought RCFL for a consideration of Rs 1 crore, it added. This is the first subsidiary of Reliance Capital, which has successfully undergone resolution. RCFL, which according to its website has been re-branded as Reliance Money, is a non-banking finance company (NBFC) with assets under management of Rs 11,000 crore. The company offers a wide range of financial products, including small and medium enterprise loans, loans against property, infra financing, agriculture loans and supply chai

Radio phase-III rules may kick off M&As, see smaller players exit: Experts

Push into C&D category cities to aid growth; sector had shrunk to half its pre-pandemic market size of Rs 3,100 cr due to Covid-19 and other curbs over past two years

HSBC Holdings hires Credit Suisse's Chua for top M&A business in Asia

Credit Suisse Group AG's Christopher Chua is leaving the bank to help oversee the Asia mergers and acquisitions business at HSBC Holdings Plc