Mnacritique · Pressroom

Middle East giant in talks to buy Sahara's billion-dollar US hotels
Embattled Sahara group is in talks with a large Middle-Eastern enterprise for sale of its majority stake in two prime New York hotels -- including the iconic Plaza which was once owned by Donald Trump

August 28, 2017

RCom-Aircel merger: NCLT overrules DoT objections
The National Company Law Tribunal (NCLT), in its order admitting Reliance Communications Ltd’s (RCom’s) petition for merging its wireless division with Aircel Ltd

August 18, 2017

NCLT okays first insolvency resolution scheme under IBC
The National Company Law Tribunal (NCLT) on Monday pronounced the first insolvency resolution order under Insolvency and Bankruptcy Code, 2016, in the matter of Synergies-Dooray Automotive Ltd

August 16, 2017

Apple seeks to expand iPhone OLED display production, invests $2.7 bn in LG
Samsung may soon not be the only supplier of OLED displays for Apple as the Cupertino-based tech company has reportedly invested $2.70 billion in LG for the production of OLED panels for its iPhones.

August 1, 2017

India raises concerns around Chinese firm Fosun's takeover of Gland: Source
India has privately raised objections to Chinese firm Shanghai Fosun Pharmaceutical Group's proposed $1.3 billion takeover of Indian drugmaker Gland Pharma, a source familiar with the matter said on Monday.

August 1, 2017

IDFC infrastructure fund set to buy First Solar’s India portfolio for $300 million
The infrastructure fund of multi-asset manager IDFC Alternatives is set to make its biggest acquisition till date by taking over the entire 200 megawatts of First Solar’s operational portfolio of solar power projects in India.

July 31, 2017

Four banks withdraw opposition to NSEL-parent merger
Four years ago this week, thousands of investors in India were shattered to discover that they were victims of a huge fraud at commodity bourse National Spot Exchange (NSEL)

July 31, 2017

Tata and Temasek approve merger of Snapdeal, Flipkart
Tata group Chairman Emeritus Ratan Tata, Temasek, BlackRock and Foxconn, all high-profile stakeholders of Gurgaon-based online marketplace Snapdeal, have reportedly given in-principle approval to its merger with rival, Flipkart.

July 28, 2017

Aion and SSG cap racing to acquire debt ridden Alok Industries
A special situations fund — set up by US private equity giant Apollo Global Management and ICICI Venture — and pan-Asian reconstruction specialist SSG Capital have set sights on controlling stake

July 24, 2017

Bank mergers to benefit sector, end duplication of resources: Dena Bank CMD
Amid talks of consolidation gaining currency in the Indian banking space, public sector lender Dena Bank's Chairman and Managing Director (CMD) Ashwani Kumar has said the proposed move would bring about several benefits.

July 24, 2017

Inox wind challenges National Company Law Tribunal’s order
Wind energy solutions provider Inox Wind (IWL) is challenging the National Company Law Tribunal’s Chandigarh bench order on insolvency, claiming it is solvent and in "excellent" financial health.

July 17, 2017

Deloitte, KPMG & PwC in close race to acquire BMR Advisors
Three of the Big Four — Deloitte, KPMG and PwC — are in a close race to buy BMR Advisors, India’s best-known boutique tax firm, or at least, separate parts of the firm

July 17, 2017

Creador acquires 22 per cent stake in Paras Healthcare for Rs 275 crore
Malaysian private equity firm Creador has acquired a minority stake in Paras Healthcare through affiliate Commelina for Rs 275 crore, officials from both companies confirmed.

July 17, 2017

Malaysia's Genting sells stake in Australia's The Star
Malaysian tourism and gambling conglomerate Genting Group said on Friday it had sold its 5.6 percent stake in Australian casino operator The Star Entertainment Group Ltd (SGR.AX) for A$235.2 million ($181.9 million).

July 15, 2017

JSW Energy shareholders clear plan to raise Rs21,000 crore for acquisitions
Sajjan Jindal is readying a war chest to buy out stressed assets in the power sector. Shareholders of Jindal-promoted JSW Energy Ltd on Thursday voted to give the company board the power to raise up to Rs21,000 crore

July 15, 2017

Chris Gayle invests in Indian gaming start-up IONA Entertainment
Swashbuckling West Indian opening batsman Chris Gayle has invested an undisclosed amount in IONA Entertainment to bring one-stop entertainment to Indian sports fans, which includes state-of-the-art virtual gaming.

July 15, 2017

Pearson to raise $1 bn via Penguin Random House stake sale to Bertelsmann
Pearson is set to raise $1 billion from the sale of a 22 percent stake in book publisher Penguin Random House to majority owner Bertelsmann, in the British group's latest bid to rebuild following a string of profit warnings.

July 12, 2017

Tata Steel to sell SAW mills in UK to Liberty House Group
Tata Steel UK has signed a definitive sale agreement to sell two of its pipe mills in Hartlepool to Liberty House Group, a London-based industrial and metals multinational of India-born entrepreneur Sanjeev Kumar Gupta.

July 12, 2017

NLC India invests big money into renewable energy
State-owned power producer NLC India is investing heavily in renewable energy as producing only lignite and generating power from it may not be sustainable for long, chairman and managing director S K Acharya told ET.

July 12, 2017

PSL Limited files for insolvency
The Ashok Punj-owned PSL Limited, the largest manufacturer of pipes in India, has filed for insolvency under the Insolvency and Bankruptcy Code, 2016.

July 7, 2017

IDFC Bank, Shriram Capital plan mega merger, talks to begin next week
The Chennai-based Shriram Capital and IDFC Bank are set to begin 90 days of exclusive negotiations next week for an all-stock merger that could create a Rs 60,000-crore financial powerhouse

July 7, 2017

Govt asks Vedanta to make a buyback offer for Cairn's 9.8% stake
The government has asked Vedanta to make a buyback offer for Cairn UK’s 9.8 per cent equity in the company, attached by the tax department for non-payment of dues.

July 6, 2017

HDFC’s PE subsidiary may sell stake in Windflower Resorts
HDFC Property Fund is in advanced talks with prospective buyers to sell its stake in The Windflower Resorts and Spa for about Rs 100 crore, nearly three times its investment of Rs 30-35 crore

July 6, 2017

Britain's GFG Alliance says signed binding agreement to buy Australia's Arrium
British consortium GFG Alliance said on Wednesday it has signed a binding agreement to acquire deeply indebted Australian steel company Arrium Ltd, trumping a South Korean group backed by steel giant Posco.

July 6, 2017

Snapdeal board rejects Flipkart's $800-mn buyout offer
The board members of online marketplace Snapdeal have rejected the offer of $800 million made by Tiger Global-backed domestic online retail giant Flipkart, but sources said talks are still on.

July 5, 2017

Sun Pharmaceutical signs agreement with Samsung BioLogics for psoriasis drug
Sun PharmaceuticalBSE 0.49 % Industries, India’s largest drug maker, signed a long-term agreement with South Korea’s Samsung BioLogics for the manufacture of an experimental medicine to treat psoriasis.

July 5, 2017

Private equity firms invested record $11.3 billion in India from January to June
A PE deluge continues to drive up the deal street as well as India's foreign direct investment ranking. Breaking all previous records, private equity firms invested a record $11.3 billion in the country in the half year ended June 30

July 5, 2017

NCLT postpones decision on demerger of SRL from Fortis
The National Company Law Tribunal (NCLT) in Chandigarh has postponed its decision on a demerger of SRL Diagnostics from parent company Fortis Healthcare while it decides whether Daiichi Sankyo

June 30, 2017

Halliburton in talks to buy billionaire Kaiser's equipment firm - sources
Halliburton Co (HAL.N) is in late-stage talks to acquire a fast-growing U.S. oilfield equipment supplier backed by Oklahoma energy and banking billionaire George Kaiser, according to sources familiar with the matter.

June 30, 2017

Alibaba to invest $1 billion in Lazada to boost Asia expansion
Alibaba Group Holding Ltd will invest another $1 billion to raise its stake in online mall Lazada Group SA to 83%, securing control of a fast-growing start-up at the vanguard of its Southeast Asian expansion.

June 30, 2017

VW-Tata alliance likely to be called off
The alliance between Tata Motors and Volkswagen (VW) group is likely to be called off.

June 29, 2017

Cabinet nod for disinvestment: Air India stake sale takes off
The government on Wednesday gave in-principle approval for disinvesting stake in state-owned Air India. Whether or not the airline will be fully privatised is not yet known.

June 29, 2017

Ashok Leyland to consolidate CV business; new launches on anvil
Hinduja group flagship Ashok Leyland is looking at expansion of its commercial vehicle business with plans to introduce a slew of products.

June 29, 2017

Legal tussle to recover Rs 3,500 crore: Daiichi moves NCLT to block Fortis demerger
Japanese drugmaker Daiichi Sankyo has approached the National Company Law Tribunal (NCLT) in Chandigarh to stop former Ranbaxy promoters Malvinder and Shivinder Singh from splitting hospital and diagnostics businesses

June 29, 2017

Blackstone exits Jagran Prakashan holding firm, sells stake to promoters
Jagran Prakashan Ltd (JPL), the publisher of Dainik Jagran, India’s most-read newspaper, on Tuesday said its promoters have purchased the entire stake held by private equity investor Blackstone Group in the company.

June 28, 2017

NCLT rejects insolvency proceedings by Leo Duct Engineers & Consultants
The fledgling National Company Law Tribunal has rejected insolvency proceedings sought by Leo Duct Engineers & Consultants that facilitates the continuation of banks’ recovery under the SARFAESI Act

June 28, 2017

Reliance Industries seeks shareholders’ nod to raise Rs25,000 crore via debt
Reliance Industries Ltd (RIL) has sought shareholders’ approval to raise as much as Rs25,000 crore through debt to meet capital expenditure, the firm said in a stock exchange notice.

June 27, 2017

HDFC seeks shareholders' nod for Rs 85,000-cr fundraising
Mortgage lender Housing Development Finance Corporation (HDFC) will seek shareholders' approval at the annual general meeting (AGM) next month to raise up to Rs 85,000 crore through various debt instruments.

June 27, 2017

Insolvency resolution: SBI ropes in A&M, EY, Deloitte and PwC
State Bank of India has mandated bankruptcy specialist Alvarez & Marsal to act as interim resolution professional to reorganise Ruias-owned Essar Steel that defaulted on Rs 44,000 crore debt

June 27, 2017

Uttam Galva Steels plans to reduce risk as it faces insolvency proceedings
The Miglani family-controlled Uttam Galva Steels is in the process of entering into a raw material supply agreement with JSW Steel, in a bid to mitigate risk to the company in the wake of insolvency proceedings.

June 26, 2017

Tata Group to enter online grocery business by acquiring Gurgaon-based GrocerMax
The Tata group is buying out the management team and technology infrastructure of Gurgaon-based GrocerMax to enter the online grocery business as consumers increasingly place orders for their supplies over the internet.

June 26, 2017

Diageo to buy George Clooney's tequila brand Casamigos for up to $1 billion
Diageo Plc (DGE.L) has agreed to buy George Clooney's high-end tequila brand Casamigos in a deal valuing it at up to $1 billion, as the world's largest spirits maker seeks to boost its presence in a high-growth market.

June 23, 2017

Mswipe raises $31 million in fourth funding round
Independent PoS (point of sale) merchant acquirer and network provider Mswipe Technologies on Wednesday announced a Series D, or fourth strategic round of funding of $31 million.

June 23, 2017

Delhi HC allows Singh brothers to sell Fortis stake with a rider
The Delhi high court on Wednesday cleared the way for former Ranbaxy promoters Malvinder and Shivinder Singh to potentially sell a stake in Fortis Healthcare Ltd on the condition that the disclosed value

June 23, 2017

EESL may go for an IPO to raise Rs200 crore
State-run Energy Efficiency Services Ltd (EESL) may go for an IPO to raise about Rs200 crore by diluting 20% stake before the end of this current financial year, a top official of the company said on Wednesday.

June 23, 2017

Adani Capital invests Rs 50 cr in PRA Realty's project in Pune
Adani Capital, the NBFC arm of the Adani Group, will invest Rs 50 crore in PRA Realty's project in Pune.

June 22, 2017

Sebi eases M&A norms for distressed firms
The Securities and Exchange Board of India (Sebi) relaxed some rules on Wednesday to hasten the resolution of stressed assets in bank balance sheets.

June 22, 2017

Ramky Enviro Engineers may sell stake in non-civic waste unit
Ramky Enviro Engineers is in separate talks with Canada’s alternate asset manager Brookfield Asset Management, American private equity fund Blackstone group LP and British developmental finance institution CDC Group Plc

June 22, 2017

Chinese firms inks deal with Adani Group, to invest $300 mn in Gujarat
India's Adani Group inked a deal with East Hope Group, one of China's largest companies, which will invest over $300 million to set up a manufacturing unit for solar power generation equipment in Gujarat.

June 21, 2017

Polyhose acquires Ashok Leyland-John Deere JV facility
Polyhose Group, which has been manufacturing hoses for both the Indian and export markets, has acquired the construction equipment manufacturing facility of the Ashok Leyland-John Deere, joint venture, to foray into this segment.

June 21, 2017

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