Page 22 - Acquisition

Ashok Leyland to acquire OHM India as part of EV plan, to invest Rs 300 cr

Hinduja group flagship firm Ashok Leyland on Monday said it will fully acquire OHM Global Mobility Pvt Ltd from OHM International Mobility Ltd and will invest Rs 300 crore into the acquired entity. OHM Global Mobility Pvt Ltd (OHM India) is a wholly-owned subsidiary of OHM International Mobility Ltd UK (OHM UK) and the promoter, Hinduja Automotive Ltd, directly holds 20 per cent and indirectly through other subsidiaries holds 43.23 per cent in OHM UK, Ashok Leyland said in a regulatory filing. The acquisition is a part of the company's EV strategy to engage in the business of eMaaS (e-Mobility as a Service). This would likely result in enhancing the operational efficiency and synergy, it added. OHM India is envisaged to operate in transportation, logistics operation and management and eMaaS. "The company also proposes to infuse fresh equity or preference capital of up to Rs 300 crore in one or more tranches into OHM India for its business requirements," Ashok Leyland said. OHM Ind

LS Digital buys Social Panga in 3rd acquisition after Langoor, F1 Studioz

The new creative agency will be India's largest integrated marketing platform

Jio Platforms' subsidiary Radisys completes acquisition of Mimosa Networks

Jio Platforms' subsidiary Radisys Corporation on Friday announced that it has completed the acquisition of Mimosa Networks, Inc. from Airspan Networks Holdings Inc. Earlier this year, the companies had announced the deal under which Radisys Corporation signed a definitive agreement with US-based Airspan Networks Holdings for the acquisition of Mimosa Networks for USD 60 million on a debt-free, cash-free basis. According to a release on Friday, "Radisys Corporation, a wholly owned subsidiary of Jio Platforms Limited and a global leader of open telecom solutions, today announced that it has completed the acquisition of Mimosa Networks, from Airspan Networks Holdings Inc." With this, Mimosa has become a wholly-owned subsidiary of Radisys. Radisys' acquisition of Mimosa will accelerate the availability of broadband access for advancing societies, the release said. Mimosa offers a diverse portfolio of point-to-point and point-to-multi-point connectivity products leveraging unlicensed ..

UBS ends Swiss govt's rescue packages that aided Credit Suisse takeover

UBS said Friday it has shut down rescue packages agreed with Swiss authorities that made available up to 200 billion Swiss francs (about USD 230 billion) to help shepherd through its takeover of ailing rival Credit Suisse and avert an international banking crisis. The Zurich-based banking giant, which completed the takeover on June 12, said it had moved to voluntarily terminate" rescue programmes that aimed to help mop up billions of losses and provide liquidity to the banks as they moved forward on the complex deal. UBS said it had repaid 50 billion francs in loans from the Swiss National Bank and 100 billion francs in liquidity support from the Swiss government, while ending a 9 billion franc loss protection agreement with the government. In total, UBS also paid some 730 million francs in commitment fees and risk premiums to Swiss authorities, comprised of 200 million to the government and 530 million to the national bank. Swiss authorities and UBS announced the hastily arranged

Ananya Birla's Svatantra to acquire Navi Group's Chaitanya for Rs 1,479 cr

The acquisition is set to position Svatantra as the second largest NBFC-MFI in India, fostering a boost to microfinance reach and impact

Adani Group's Ambuja Cements to acquire Sanghi Industries for Rs 5,000 cr

Purchase will entail purchase of 56.74% shares from Sanghi Industries' promoter group

Ambuja Cements gains 3% on acquisition of Sanghi Industries for Rs 5,000 cr

ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family.

Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr

The Adani group will invest Rs 4,500 cr in acquiring the promoters' stake and take over the company's debt of around 1,500 cr

Ambuja Cements to acquire majority stake in Sanghi Industries: Reports

Adani Group is India's second largest cement producer, behind UltraTech Cement. It owns Ambuja and its subsidiary ACC Ltd, which have a capacity to produce more than 65 million tonnes

ChrysCap joins Nirma, Sekhmet in race to snap up Glenmark Life Sciences

Nirma, Sekhmet Pharma also make binding bids

Coal India embarks on overseas acquisition of critical mineral assets

In a bold move to diversify its operations and integrate further into the value chain, Coal India Limited (CIL) is targeting the acquisition of lithium, cobalt, and nickel assets abroad. The company has recently amended its Memorandum of Association (MoA) to include non-ferrous and critical minerals, indicating its commitment to expand its presence in new sectors. In the past, the miner's attempt to acquire coal assets aboard did not fructify. In its pursuit of overseas assets, CIL is currently identifying suitable opportunities for mergers and acquisitions, the management informed its shareholders in its latest annual report. The strategic move reflects the company's vision to secure a steady supply of these critical minerals toward the Atmanirbhar mission of India. In 2022, the Ministry of Mines also created a joint venture company, Khanij Bidesh India Ltd (KABIL), with participating interest from NALCO, Hindustan Copper Ltd and Mineral Exploration Corporation Ltd (MECL). KABIL

BPEA to acquire 60% stake in India's largest fertility clinic Indira IVF

The deal values Indira IVF at $1.1 billion, cementing its position as a global leader in fertility services, with BPEA EQT set to become the new majority investor

Marico signs agreement to acquire majority stake in Satiya Nutraceuticals

In an all cash deal, the maker of Parachute Coconut oil will buy the stake in the company for an aggregate consideration of upto Rs 369 crore

Samil to acquire Germany-based Dr Schneider Group for over Rs 1,000 crore

Apart from the aforementioned three major global acquisitions, Samil has done seven other smaller acquisitions in India and other parts of the world in 2023

Diversified Dharampal Satyapal Group acquires Viceroy Bangalore Hotels

Diversified Dharampal Satyapal Group on Friday said it has acquired Viceroy Bangalore Hotels Pvt Ltd for an undisclosed sum following a bidding process. The acquisition expands the group's hospitality footprint into Southern India, Dharampal Satyapal Group (DS Group) said in a statement. Viceroy Hotels-owned and the Marriott-managed Renaissance Bengaluru is situated on 1.8 acres of prime land and has 275 rooms. This hotel's strategic location in the Central Business District (CBD) made it an enticing addition to DS Group's hospitality portfolio, it added. The group said it is now actively strategising approaches to further elevate the hotel's appeal. "With this acquisition, the DS Group expands its hospitality footprint and reinforces its continued commitment to the hospitality business," DS Group Vice Chairman Rajiv Kumar said. DS Group's hospitality portfolio comprises brands such as The Manu Maharani in Nainital and Namah in Jim Corbett National Park.

Microsoft, Activision Blizzard extend deadline to close $69 bn deal

The deadline for Microsoft's USD 69 billion acquisition of video game company Activision Blizzard has been extended to as the companies seek to close a deal that has been challenged by regulators in the US, as well as by UK's Competition and Markets Authority. Microsoft believes that pushing back the deadline to Oct. 18 will provide enough time to work through the remaining regulatory issues, said Brad Smith, the company's president. We are confident about our prospects for getting this deal across the finish line, Smith said. The extension comes with a bigger termination fee, should the deal be called off, and a number of other new agreements. Tuesday marked an important deadline for the deal announced 18 months earlier. Both Microsoft and Activision had agreed that either party could walk away from the planned merger if it hadn't closed by then, triggering Microsoft to potentially have to pay a USD 3 billion breakup fee unless both sides decided to renegotiate. That termination

Bikaji Foods International acquires 49% equity stake in Bhujialalji

Bhujialalji Pvt Ltd (BPL) is a new entrant to this industry with its product portfolio comprising popular bhujia and namkeen variants

Sheela Foam to acquire 94.66% stake in Kurlon Enterprises for Rs 2,150 cr

Sheela Foam Ltd, the maker of popular mattress brand Sleepwell, on Monday said it will acquire a 94.66 per cent stake in Kurlon Enterprises Ltd for Rs 2,150 crore. The company also said it will acquire a 35 per cent stake in online furniture firm House of Kieraya Pvt Ltd for Rs 300 crore. The company's board at its meeting held on July 17, 2023, has approved the acquisition of Kurlon Enterprise Ltd and House of Kieraya Pvt Ltd, Sheela Foam said in a regulatory filing. "The company is acquiring 94.66 per cent of KEL's (Kurlon Enterprises Ltd ) share capital at an equity valuation of Rs 2,150 crore, subject to customary adjustments for net working capital, debt and surplus cash, if any," it said. KEL deals mainly in the manufacture and marketing of foam and coir-based home comfort products across the 'sit and sleep' categories like mattresses, furniture cushions, pillows and coverings. It was established in 1962 as Karnataka Coir Products, part of South India-based Pai family busine

Reliance to acquire Alia Bhatt-promoted kidswear brand Ed-a-Mamma

Reliance Brands, part of Reliance Retail Ventures Ltd (RRVL), is planning to buy Ed-a-Mamma, a kidswear brand promoted by Bollywood actress Alia Bhatt, according to an industry source. The leading retailer would ultimately acquire the company, which specialises in providing sustainable clothing options for kids at affordable rates. Talks between Reliance Brands and the kidswear retailer, which mainly sells online are in the final stages, the industry source said. According to a media report, the deal is estimated to be around Rs 300 crore. The deal would help strengthen Reliance Brands' play into the branded kidswear segment, which is rapidly growing in the country. Ed-a-Mamma brand is owned by Eternalia Creative and Merchandising, in which Alia Bhatt is a director. The company was incorporated in 2019. An e-mail sent to Reliance Brands remained unanswered by the time of filing of the story. Established in 2007, Reliance Brands has collaborated with of over 50 international bran

Pfizer's proposed $43 bn takeover of Seagen faces EU investigation

If the takeover goes through, Seagen's portfolio would double Pfizer's pipeline of early-stage experimental cancer therapies, Pfizer has said