Mnacritique · Newsroom

RITES may get into station development by acquiring 25% stake in IRSDC
Railways subsidiary RITES, which is set to be listed, is likely to diversify into station development by acquiring a 25 percent stake in Indian Railway Stations Development Corporation (IRSDC)

February 8, 2018

Brazilian antitrust agency approves Bayer-Monsanto tie-up
Brazilian antitrust agency Cade on Wednesday approved Bayer AG’s proposed takeover of U.S. seeds company Monsanto Co without requiring further asset sales beyond a global proposal announced last October.

February 8, 2018

REI Agro goes in for liquidation
REI Agro, a firm that claims to have 22 per cent share in the world’s basmati rice market, has gone in for liquidation after the National Company Law Tribunal (NCLT) ordered it to do so.

September 14, 2017

'Government ready to provide capital support for PSU banks' merger'
The finance ministry is open to providing capital support for facilitating consolidation among state-owned banks, which are reeling under mounting bad loans, official sources said.

August 28, 2017

CPPIB to end Kotak JV plan for stressed assets
Canada's largest pension fund CPPIB will call off its proposed joint venture with Kotak Mahindra Group to invest in stressed assets in India.

August 28, 2017

Ebix set to acquire international remittance business of Wall Street Finance
Nasdaq-listed Ebix Inc. is set to buy business of Wall Street Finance Ltd.BSE 20.00 % in a two-leg transaction for Rs. 47 crores, the company said in a filing with the Bombay Stock Exchange.

August 18, 2017

China’s Belt and Road acquisitions surge despite outbound capital crackdown
Mergers and acquisitions by Chinese companies in countries that are part of the Belt and Road initiative are soaring, even as Beijing cracks down on China’s acquisitive conglomerates to restrict capital outflows.

August 16, 2017

HSBC profit rise by 5%, announces $2 billion share buyback
HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a year, indicating continued progress in the six-year turnaround plan of Europe's biggest bank.

August 1, 2017

IndiGo may junk sale-and-leaseback model, opt for outright buys
IndiGo would replace the industry’s traditional sale-and-leaseback model for aircraft financing with outright purchases for some of its future fleet additions, underscoring the focus on cutting total ownerships expenses

August 1, 2017

RCom, Aircel merger deal on sticky ground
The proposed merger of Reliance CommunicationsBSE -1.89 %' wireless business and Aircel is clouded with more uncertainty with the Department of Telecommunications setting the Supreme Court's

July 31, 2017

Snapdeal-Flipkart deal falling apart after six months of hard negotiations
A crucial meeting to settle the proposed merger of beleaguered online marketplace Snapdeal with market leader Flipkart, due to take place in Bengaluru over Monday and Tuesday, has been called off

July 31, 2017

Insolvency: NCLT reserves order against ABG Shipyard filed by ICICI bank
The Ahmedabad bench of National Company Law Tribunal (NCLT) on Thursday reserved its order on insolvency proceedings initiated by lender ICICI Bank against ABG Shipyard Ltd

July 28, 2017

Merger off table, focus is on HDFC Life IPO: Parekh
Deepak Parekh, the chairman of the largest mortgage lender HDFC, said on Wednesday the proposed merger of HDFC Life Insurance and Max Life has been called off

July 27, 2017

Freecharge sold to Axis for $60 million: The facts and details
Once the 'crown jewel' of Jasper InfoTech's (parent company of Snapdeal) portfolio, Freecharge, which until last year was the second largest mobile wallet player, has been sold to Axis Bank at almost one-tenth of the price.

July 27, 2017

KKR, Warburg Pincus show interest in Air India privatisation
Private equity funds KKR and Co. and Warburg Pincus are the latest to express interest in acquiring Air India’s businesses, according to two people directly aware of the development.

July 24, 2017

PMO scraps plan to divest MSTC's subsidiary FSNL
The Prime Minister's Office (PMO) has agreed not to go ahead with the divestment of MSTC's arm Ferro Scrap Nigam (FSNL) as the entity has no tangible assets barring machinery, a top official said.

July 24, 2017

IDFC-Shriram merger: Aim to give a fair deal to everybody, says R. Thyagarajan
As IDFC Ltd and Shriram group prepare to begin their 90-day exclusivity deal talks this week, R. Thyagarajan, founder of Shriram group, lays bare the rationale behind the proposed merger, his choice of Ajay Piramal

July 17, 2017

Bharat Petroleum makes its first US oil purchase, buys Mars, Poseidon
Bharat Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries R. Ramachandran said.

July 17, 2017

ONGC may not be required to pay premium for government stake in HPCL
Oil and Natural gas Corp (ONGC) need not pay a premium for government stake in Hindustan Petroleum (HPCLBSE -3.09 %) since the latter is widely traded and fairy valued by the market and the transaction

July 17, 2017

Abu Dhabi Investment Authority may pick up to 49% in GMR’s Hyderabad Airport
GMR Infrastructure is in advanced talks with sovereign wealth fund Abu Dhabi Investment Authority (ADIA) to sell a stake of up to 49% stake in Hyderabad International Airport

July 17, 2017

Japan's NEC considers buying Civica for $1.2 billion - Sky News
Japanese information technology company NEC Corp is looking at buying British software firm Civica for 900 million pounds ($1.2 billion) and has hired advisors to work on an offer, Sky News reported.

July 15, 2017

FanDuel, DraftKings scrap troubled merger
Daily fantasy sports companies FanDuel and DraftKings scrapped a plan to merge on Thursday following a legal challenge by U.S. antitrust enforcers.

July 15, 2017

Tata group in talks with 21st Century Fox to sell Tata Sky stake
Tata group has begun discussions to sell an additional stake in Tata Sky, its direct-to-home (DTH) television arm, to joint venture partner Twenty-First Century Fox Inc., said two people aware of the development.

July 15, 2017

Air India's Salvador Dali ashtrays and surreal debt cloud sale
Indian Prime Minister Narendra Modi’s cabinet has signed off on a plan to sell all or part of Air India Ltd., a debt-ridden, state-run carrier with the most unusual baggage.

July 12, 2017

Initiative for merger should come from banks: Former RBI Governor C Rangarajan
Former RBI Governor C Rangarajan today said bank merger should be need-based and the initiative should come from the lenders themselves.

July 12, 2017

Bankruptcy proceedings to make the wallets of consultants fatter
As banks try to recover cash from companies that defaulted on loans, top consulting partners and lawyers helping with the insolvency proceedings may end up earning as much as some Indian CEOs do.

July 12, 2017

Defaulters may follow Essar route to block bankruptcy
A number of large loan defaulters may follow the footsteps of Essar Steel by approaching courts to block bankruptcy proceedings against them, after the steelmaker got a stay on hearings on an insolvency petition moved by a bank.

July 7, 2017

IL&FS in talks to sell majority stake in QVC Group
Homegrown private equity fund IL&FS PE is in talks with global PE funds Brookfield, ISquared Capital and Macquarie to sell its majority stake in Bengaluru-based real estate developer QVC Group.

July 7, 2017

Bharti Airtel open to selling bigger chunk of tower arm Bharti Infratel
Bharti AirtelBSE 0.56 % may revive a plan to sell a controlling stake in tower arm Bharti Infratel in an effort to pare over $14 billion of debt and release funds for network expansion, people familiar with the matter said.

July 6, 2017

Australia's Vocus allows KKR to conduct due diligence for $1.7 billion bid
Embattled Australian internet company Vocus Group Ltd said it will open its books for KKR & Co LP to conduct due diligence, a sign it may accept a $1.66 billion buyout approach dismissed by investors weeks earlier as too low.

July 6, 2017

Essar Steel moves HC against insolvency proceedings
Essar Steel has moved the Gujarat High Court against insolvency proceedings initiated by the banks on the direction of the Reserve Bank (RBI).

July 5, 2017

PSB mergers should be between equals: SBI Chief Arundhati Bhattacharya
State Bank of India chairman Arundhati Bhattacharya said the merger of public sector banks should be between equals and added that things will start getting better on asset quality by the second half of the year

July 5, 2017

Premji Invest picks 2.2% stake in Aditya Birla Capital
Premji Invest, Wipro Chairman Azim Premji’s investment arm, has picked up 2.2 per cent stake worth Rs 700-crore in Aditya Birla Capital (ABCL) at a valuation of Rs 32,000 crore ahead of its listing next month.

June 30, 2017

Essar Steel insolvency proceedings: SBI, Standard Chartered differ on choice of IRP
Essar Steel’s insolvency proceedings could turn into a test case for India’s bankruptcy framework with lenders differing on the choice of the so-called interim resolution professional (IRP)

June 30, 2017

Not that courageous to invest in Air India: Anand Mahindra
"I don't possess that much courage" to invest in Air India, noted industrialist Anand Mahindra has said amid the government deciding to sell stake in the loss-making airline.

June 30, 2017

KKR sells stake in Norwegian software company Visma for $1.8 billion: source
Private equity company KKR & Co LP (KKR.N) has sold its entire stake in Norwegian software company Visma for 1.4 billion pounds ($1.81 billion) to a group of investors that includes Singaporean wealth fund GIC

June 30, 2017

Staples in $6.9 billion sale to private equity firm Sycamore
Sycamore Partners said on Wednesday it would acquire U.S. office supplies chain Staples Inc (SPLS.O) for $6.9 billion, a rare bet by a private equity firm this year in the U.S. retail sector

June 30, 2017

AIG CEO Brian Duperreault may reduce buybacks, focus on acquisitions
American International Group (AIG) Inc's new chief executive Brian Duperreault said on Wednesday the company would likely slow the pace of share buybacks and instead spend on acquisitions.

June 29, 2017

News Corp completes acquisition of GMX Services in India
Diversified media and information services company News Corp today said it has completed the acquisition of Bengaluru-based GyanMatrix Services (GMX).

June 29, 2017

Columbia Asia to invest Rs 400 crore on 2 new hospitals in India
International healthcare firm Columbia Asia will invest over Rs 400 crore to set up two new hospitals in India by the end of 2019 as it looks to expand presence in the country.

June 29, 2017

Bharat Forge, Sona Koyo competing with Blackstone Group, KKR and DA Capital for Amtek
Domestic strategic buyers, including Bharat ForgeBSE 2.67 % and Sona KoyoBSE 1.99 % Systems, are competing with bulge-bracket private equity funds such as Blackstone Group, KKR and DA Capital to acquire all or part of Amtek Group’s

June 29, 2017

Godrej Consumer Products eyeing an acquisition to enter skincare market
Godrej Consumer Products Ltd (GCPL) may buy a company in India, potentially in the skincare business, having consolidated its African joint ventures (JVs) by acquiring controlling stakes in them.

June 28, 2017

Bankruptcy proceedings started against Essar Steel, Monnet Ispat
Essar Steel Ltd and Monnet Ispat and Energy Ltd have become the first of the 12 big bad loans cases identified by the Reserve Bank of India (RBI) against which bankruptcy proceedings have been filed

June 28, 2017

Airtel may buy Tata Tele: UK research firm
Bharti Airtel is the most likely acquirer of the struggling Tata Teleservices as the Indian telecom sector consolidates into a four-operator market in the next three years

June 28, 2017

Holding company discount may weigh on Grasim merger
Grasim Industries Ltd has been on investors’ radar screens since it announced its fourth-quarter results last month, with all of them eager to get an update on the much-talked about restructuring plan.

June 27, 2017

IFMR Capital plans fund to invest in firms focused on financial inclusion
IFMR Capital, an impact-focused financial services firm, is planning to set up an overseas fund as it looks to raise capital from offshore markets for investing in businesses focused on financial inclusion, a senior executive of the firm said.

June 27, 2017

Vedanta's dream has just begun; to invest $6-7 billion: Anil Aggarwal
Working on creating a natural resources giant anchored in India, Vedanta's dream has only just begun and it will invest USD 6-7 billion on expanding overall capacity in 3-4 years, metals and mining baron Anil Agarwal said.

June 27, 2017

Snapdeal sale to Flipkart delayed due to complex due diligence process
A complex due diligence process is delaying the Snapdeal sale to Flipkart, two people familiar with the matter said.

June 26, 2017

SAIL seeks NITI's help over differences with ArcelorMittal in Rs 5K-cr JV
The country's largest steel maker SAIL has sought help from government think-tank NITI Aayog to resolve differences with ArcelorMittal over setting up of about Rs 5,000-crore auto-grade steel plant.

June 26, 2017

Siemens, Schneider Electric and Eaton Corporation join ABB in race for L&T's electrical unit
Global industrial conglomerates Siemens, Schneider Electric and Eaton Corporation have joined ABB in the race to acquire the electrical and automation division of Larsen & Toubro

June 26, 2017

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