Page 17 - Acquisition

Jupiter Wagons rises 4% day after announcing Bonatrans India buyout

Jupiter Wagons has acquired Bonatrans India, manufacturer of rolling stock wheelsets, for a consideration of Rs 271 crore.

Himadri Speciality Chemical to acquire 40% stake in Invati Creations

Himadri will have two nominee directors on the board of Invati Creations Private Limited

Canada-based firm Fairfax offers all-cash deal to acquire IDBI Bank

IDBI Bank's disinvestment process began in October 2022, with LIC and the government selling their respective shares of 30.24% and 30.48%

Tata Group considering buying Walt Disney's minority stake in TV Platform

The companies are in preliminary talks about an acquisition of Disney's significant minority stake, which would value Tata Play at about $1 billion or more, the people said

Reliance to buy Paramount's entire 13.01% stake in Viacom18 for $517 mn

The transaction is also subject to the completion of Reliance's previously announced merger with Walt Disney for their India TV and streaming media assets

BP, ADNOC suspend $2 bn deal to acquire 50% stake in Israel's NewMed

NewMed said all parties had agreed to pause negotiations, although Abu Dhabi National Oil Co (ADNOC) and BP have reaffirmed their interest in the deal

Nirma completes acquisition of 75% stake in Glenmark Life Sciences

The acquisition strengthens Nirma's presence in the pharmaceuticals and life sciences sector

Triveni Engineering acquires 25.43% stake in Sir Shadi Lal Enterprises

Sugar company Triveni Engineering & Industries Ltd has acquired a 25.43 per cent stake in Sir Shadi Lal Enterprises Ltd (SSEL) for Rs 35 crore and launched an open offer to shareholders for acquiring an additional 26 per cent stake. Triveni Engineering is one of the leading integrated sugar producers in the country. It is also into engineered-to-order high speed gears & gearboxes and water and waste water management business. In a statement, the company said it has acquired a 25.43 per cent stake in SSEL. Pursuant to a share purchase agreement executed with Vivek Viswanathan and Radhika Viswanathan Hoon on January 30, 2024, the company on Monday acquired 25.43 per cent equity stake in SSEL for an aggregate consideration of Rs 35 crore, i.e. at a price of Rs 262.15 per equity share of SSEL. To acquire a majority stake in SSEL, the company had launched an open offer to the shareholders of SSEL to acquire up to 26 per cent of the outstanding voting share capital at Rs 262.15 per .

Kilburn Engineering acquires turnkey solutions provider M E Energy

The acquisition, effective February 20, 2024, was made for an aggregate consideration of Rs 98.70 crore

Flipkart in talks to potentially acquire Reliance-backed startup Dunzo

Despite having raised approximately $500 million to date, Dunzo has faced increased competition in the hyperlocal delivery segment

Capital One to buy Discover for $35 billion in yr's biggest all-stock deal

It's a "singular opportunity" to bring together two companies that can compete with the largest payment networks, Capital One Chief Executive Officer Richard Fairbank said in the statement

Sun Pharma to acquire 16.33% stake in US-based Surgimatix for $3 million

The transaction is expected to be completed by the end of February 2024, pending fulfilment of certain conditions

Hinduja nears Rs 4,000 cr borrowing deal for Reliance Capital acquisition

The group's acquisition is still pending court and regulatory approvals. If the transaction is successful, IIHL, along with other entities, will have a controlling stake in Reliance Capital

Walmart in talks to buy TV maker Vizio for more than $2 billion: WSJ

The talks come at a time Walmart is increasingly monetising its reach and troves of shopper data to sell ads on its properties including its website and store assets such as digital diplays

Wipro acquires Aggne for $66 mn to boost capabilities in insurance sector

Founded in 2019, Aggne is incorporated in the US and India, with offices in Tampa, Florida, and Hyderabad, India. The company has 230 employees based in India and the United States

IndiGrid plans to raise Rs 1,000 crore for acquisitions, debt rejig

IndiGrid has announced the acquisition of 100 per cent of ReNew Solar Urja Private Limited (RSUPL). The deal is expected to be valued at Rs 1,650 crore

PE majors Blackstone, ChrysCapital join race to buy Healthium Medtech

The company is generating good response from the potential bidders as it is focusing primarily on products in surgical and post surgical as well as chronic care

Yatharth Hospital acquires Faridabad-based Asian Fidelis for Rs 116 crore

Yatharth Hospital and Trauma Care Services on Monday said it has acquired Faridabad-based Asian Fidelis Hospital for Rs 116 crore. The healthcare provider, which currently operates three super specialty hospitals in NCR (national capital region), has inked a definitive agreement with Pristine Infracon Pvt Ltd and its shareholders for the buyout. "This acquisition aligns with our company's strategy of expanding its footprint in the North India region," Yatharth Hospitals whole-time director Yatharth Tyagi said in a statement. The healthcare provider currently operates hospitals at Noida, Greater Noida and Noida Extension. Asian Fidelis Hospital comes with 175-bed capacity, which can be further expanded to 200 beds. Yatharth Hospital also reported a 38 per cent increase in profit after tax (PAT) at Rs 29.5 crore in the third quarter ended December 2023. The company had reported a PAT of Rs 21.3 crore in the October-December quarter of last fiscal. Revenue from operations rose to R

State Bank to buy out SBI Capital Markets' stake in SBICAP Ventures

State Bank of India on Tuesday announced that it has got the approval of the executive committee of its central board to acquire a 100 per cent stake held by SBI Capital Markets in SBICAP Ventures. The lender said the cost of the acquisition is Rs 708 crore. "...executive committee of the central board of the bank has accorded final approval for acquiring 100 per cent stake held by SBI Capital Markets Ltd in SBICAP Ventures Ltd by State Bank of India," the country's largest lender said in a regulatory filing. The bank said that SBICAP Ventures is engaged in the business of asset and investment management having assets under management (AUM) to the tune of Rs 33,055 crore as of December 2023. The stake acquisition from SBI Capital Markets is for better governance, the lender said. The proposed transaction of acquisition is being done on an arm's length basis. The RBI and SEBI have also accorded their approvals, the lender said. According to the regulatory filing, the acquisition

S P Apparels announces acquisition of Young Brand Apparel for Rs 223 cr

This includes the garment unit situated at Palladam of Bannari Amman Spinning Mills, and the land and building situated at SIPCOT