Page 12 - Acquisition

Max to acquire 64% stake in Jaypee Healthcare at Rs 1,660 cr valuation

Max Healthcare Institute on Friday said it will acquire 64 per cent stake in struggling Jaypee Healthcare for an enterprise value of Rs 1,660 crore. The company has entered into a strategic agreement with Lakshdeep Group, the promoter of Jaypee Healthcare Ltd (JHL) which is undergoing Corporate Insolvency Resolution Process (CIRP), Max Healthcare said in a regulatory filing. The collaboration and proposed acquisition will give Max Healthcare a controlling stake in JHL, including its flagship asset, the 500-bed Jaypee Hospital in Noida, it added. Under the agreement, Max shall organise debt for repayment of admitted claims of the financial creditors of JHL and proposes to simultaneously acquire 64 per cent stake in the company, with call and put option for the remaining stake, it said. The acquisition is based on an enterprise value of Rs 1,660 crore, reflecting JHL's strong market position, which includes two operational hospitals -- 500-bed Jaypee Hospital, Noida and 200-bed Jayp

Mankind Pharma plans Rs 9,000 crore raise for Bharat Serums acquisition

The move will position Mankind as a leader in the gynaecology-fertility segment, with an anticipated market share of around 20%, surpassing Emcure

Blackstone close to $13.5 billion deal to acquire Australia's AirTrunk

A deal hasn't been finalized and terms could change as talks continue, the people said. Representatives for Blackstone, Macquarie and PSP declined to comment

Adani Wilmar eyes FMCG expansion, sets aside $1 billion for 3 acquisitions

Adani Wilmar is planning to purchase at least three brands specialising in spices, ready-to-cook foods, and packaged edibles

Seven & I shareholder urges company for negotiations with Couche-Tard

he Canadian operator of Circle K hasn't disclosed terms or a price for its proposed buyout of Seven & i, which currently has a market value of 5.47 trillion yen ($37 billion)

BLS International acquires 51% stake in SLW Media for Rs 80.24 lakh

Visa processing and consular services provider BLS International on Saturday said it has acquired a 51 per cent stake in sports management company SLW Media for a value of Rs 80.24 lakh. The company has entered into a definitive share purchase agreement to acquire a 51 per cent stake in SLW Media for a value of Rs 80.24 lakh, SLW Media said in a statement. The acquisition aligns perfectly with BLS International's extensive global presence, allowing for seamless integration of golf events with its visa and travel services across more than 66 countries, it said. SLW Media is a prominent sports management company with over two decades of experience in the golf industry. "With this acquisition we are driving a transformative leap in our brand equity. This partnership acts as a powerful vehicle to elevate our global presence and position us strategically on the world stage. Our unified approach underscores our dedication to innovation and excellence, setting a new benchmark for success

GRM Overseas buys stake in Rage Coffee in push into new-age brands

The company becomes the largest shareholder in three-year-old Rage Coffee's parent, whose investors include Sixth Sense Ventures, and prominent figures such as cricketer Virat Kohli

Zomato completes acquisition of Paytm's entertainment ticketing biz

The new business will be spun off into a separate going-out app, District, in the coming few weeks

Medi Assist to fully acquire Paramount Health in a deal worth Rs 400 cr

Medi Assist Healthcare Services, which offers third-party administration services to insurance firms, on Monday said it will fully acquire Paramount Health Services & Insurance TPA in a deal valued at over Rs 400 crore. Medi Assist Insurance TPA, a wholly-owned subsidiary of Medi Assist Healthcare Services, has inked a pact with Fairfax Asia and Nayan Shah & family to acquire Mumbai-based Paramount Health Services & Insurance TPA. Paramount is a prominent player in the TPA space, owned by Fairfax Asia and the Shah family. With the acquisition of Paramount TPA, Medi Assist TPA's market share will grow to 36.6 per cent for the group segment and 23.6 per cent of the health insurance industry, by premiums managed, the company said. The deal was concluded at an enterprise value of about Rs 311 crore, and around Rs 110 crore of cash equivalents will be paid as part of the acquisition, it added. The acquisition represents one of the largest TPA deals in India, subject to ...

Medi Assist Insurance TPA to acquire Paramount Health for Rs 312 crore

Paramount TPA works with 30 insurers and more than 3,000 group customers and retail policyholders

Zydus Life shares sink as analysts wary of 'premium' Sterling Biotech buy

Despite the acquisition effort, analysts await details on the joint venture's renewed strategy and planned investments to revitalise SBL's prospects

Suraksha Group invests Rs 250 cr in Jaypee Infratech, secures Rs 3K cr loan

Suraksha Group has infused Rs 250 crore in Jaypee Infratech after acquiring it through insolvency process and has also arranged a Rs 3,000 crore loan facility, as it gears up to complete around 20,000 unfinished flats in Delhi NCR. Around Rs 1,000 crore cash is lying in the balance sheet of the Jaypee Infratech Ltd, which the bankrupt company has accumulated from real estate business and toll income of Yamuna Expressway that connects Greater Noida and Agra. According to sources, Suraksha Group has infused Rs 250 crore in Jaypee Infratech Ltd (JIL) as equity and debt after taking control of the latter in early June. JIL currently has Rs 1,250 crore fund, including Rs 1,000 crore internal cash and Rs 250 crore infusion from Suraksha group. That apart, Suraksha Group has also arranged a credit line of Rs 3,000 crore to ensure that there is no paucity of funds for completion of all stalled projects, they added. Sources said the Suraksha Group will require Rs 6,500-7,000 crore investme

Bikaji Foods International acquires majority stake of 55% in Ariba Foods

Snacks manufacturer Bikaji Foods International on Friday said it has acquired majority stake in Ujjain-based Ariba Foods, which specialises in snacks and frozen foods. Bikaji Foods International has acquired a 55 per cent equity stake in the company totalling Rs 60.49 crore, which will help Bikaji to enhance its frozen food production capabilities and expand its market presence, according to a joint statement. "This strategic move not only strengthens our capacity for export growth but also supports our entry into the Quick Service Restaurant (QSR) segment. By integrating Ariba's state-of-the-art production capabilities, we aim to enhance our frozen snacks and savouries manufacturing," Managing Director Deepak Agarwal said. In the last few years, consumption of frozen foods has increased and the sector has witnessed rapid growth driven by technological advancements. "With our advanced production facilities and export expertise, we are well-positioned to meet Bikaji's production ...

Adani Power gets approval to acquire Lanco Amarkantak Power for Rs 4,101 cr

Adani Power on Thursday said the NCLT Hyderabad bench has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 4,101 crore. LAPL is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, a BSE filing said. According to the filing, the acquisition shall be subject to the satisfaction of conditions precedent mentioned under the resolution plan. Adani Power will acquire 100 per cent shareholding in the LAPL for a cash consideration, the filing said. LAPL owns and operates a 2x300 MW (600 MW) thermal power plant (Phase-I) at Pathadi Village in Korba District of Chhattisgarh. The majority of the power generated from the Phase-I capacity is supplied to Haryana and Madhya Pradesh Discoms under long-term power purchase arrangements through Power Trading Corporation Ltd. It has 2.784 MMT of long-term fuel supply agreement with Coal India Limited's subsidiary South Eastern Coalfields Ltd (SECL). LAPL i

IndusInd Holdings gets nod to acquire majority stake in 2 Invesco entities

Fair trade regulator CCI on Tuesday approved the acquisition of majority stake in each of Invesco Asset Management and Invesco Trustee by IndusInd International Holdings Ltd. "The proposed combination pertains to the acquisition of 60 per cent shareholding in each of Invesco Asset Management (India) Pvt Ltd (Invesco AMC) and Invesco Trustee Pvt Ltd (Invesco Trustee) by IndusInd International Holdings Ltd (IIHL). "IIHL will be holding the investment through its wholly-owned and controlled subsidiary, IIHL AMC Holdings Ltd (IIHL AMC), which has been incorporated specifically for the purposes of proposed combination," the regulator said in a release. IIHL is a global business license (Category 1) licensee company incorporated in the Republic of Mauritius. It is a investment holding whereby IIHL holds shares in different companies spread across sectors. The Competition Commission of India (CCI) said it has cleared the deal. Invesco Trustee and Invesco AMC are the trustee company and a

CG Power and Industrial completes acquisition of G G Tronics for Rs 319 cr

CG Power and Industrial Solutions has completed the acquisition of G G Tronics for Rs 319 crore, the company said. In a BSE filing on Tuesday, the company said it has completed the acquisition of G G Tronics on August 20. Last month, the company entered into definitive agreements for acquisition of 55 per cent stake of GG Tronics through a combination of purchase of equity shares from GGT promoters and by way of subscription to compulsorily Convertible Preference Shares for an aggregate consideration of Rs 319.38 crore. Pursuant to the completion of the said acquisition, GG Tronics is now a subsidiary of the company with effect from August 20, 2024, it said.

Big overseas buys: Boost for footprint, mixed bag for bottom line

Profitability has been a mixed bag amid operational challenges

Adani-led Ambuja Cements completes acquisition of Penna Cement Industries

Ambuja Cements' board of directors had approved the acquisition of 100% stake in Penna Cement at an enterprise value of Rs 10,422 crore in June, expanding the firm's southern footprint

Mars, maker of M&M's and Snickers, to buy Kellanova for nearly $30 billion

M&M's maker Mars is buying Kellanova, the maker of Cheez-Its and Pop-Tarts for nearly USD 30 billion, vastly expanding the number of household-name brands under one roof. Kellanova was created last year when the Kellogg Co. split into three companies. Kellanova sells many of the former company's most profitable brands, including Pringles, Eggo, Town House, MorningStar Farms and Rice Krispies Treats. It had net sales of more than USD 13 billion last year and has approximately 23,000 employees. Mars Inc. said Wednesday that it will pay USD 83.50 per share in cash. The company put the total value of the transaction at USD 35.9 billion, including debt. It is the biggest deal in the sector since J.M. Smucker bought Hostess for USD 5.6 billion last year, and among the largest of 2024, coming in second to Exxon Mobil's USD 60 billion acquistion of Pioneer Natural Resources. Mars' purchase of Kellanova is expected to close in the first half of next year. Once it's complete, Kellanova will

CVC Capital makes open offer to acquire 26% more stake in Aavas Financiers

The open offer was made after CVC Capital acquired 26.47 per cent stake in the company from existing shareholders, Kedaara Capital, and Partners Group