Page 19 - Acquisition

CCI clears acquisition of Hitachi Astemo by HMCL, Japan Investment Corp

Fair trade regulator Competition Commission of India (CCI) on Tuesday said it has cleared the acquisition of certain shareholding in Hitachi Astemo Ltd (HAL) by Japan Investment Corporation and Honda Motor Co Ltd (HMCL). The proposed deal relates to the acquisition of 20 per cent voting rights in HAL by JICC, an affiliate of Japan Investment Corporation, together with certain control rights, board representation and other rights, according to an official release. JICC-01 Ltd Partnership is managed by JICC G.K, an affiliate of the Japanese government's sovereign wealth fund Japan Investment Corporation (JIC). Also, the regulator approved the acquisition of an additional 6.6 per cent of voting rights in HAL by HMCL, such that 40 per cent of the voting rights in HAL are held by HMCL. In addition, CCI also gave its nod to the acquisition of a 49 per cent stake in Hitachi Astemo Electric Motor Systems (HAEMS) by HAL, such that 100 per cent of the shareholding of HAEMS is held by ...

Exxon Mobil nears $60 bn acquisition of shale driller Pioneer Natural

The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998

Energy exchange IEX to acquire 10% stake in Enviro Enablers India

Energy exchange IEX on Friday said it will acquire a 10 per cent stake in Enviro Enablers India Private Limited. The association will fulfil IEX's commitment towards sustainability and decarbonisation in line with India's net zero commitments, Indian Energy Exchange (IEX) said in a BSE filing. "IEX entered into a share subscription agreement and shareholders' agreement with Enviro Enablers India Private Limited (EEIPL) to acquire a 10 per cent stake in the company through compulsory convertible preference shares (CCPS)," it said. This platform will catalyse solutions for compliant waste management, including segregation, processing, recycling, tracking, tracing, and valorization of waste fractions, all while uplifting informal waste pickers, SN Goel, Chairman and Managing Director of IEX, said. "This strategic alliance sets the stage for a transformative journey towards sustainability and circularity within India's energy landscape," Govindaswamy Mahesh Babu of EEIPL said.

Sajjan Jindal's firm, SAIC Motor to take over MG Motor India: Report

There will be no JSW Group companies involved in the deal and Jindal will participate through his private company

IQuest Enterprises to acquire active pharma ingredient business of Viatris

Multi-sector investment firm IQuest Enterprises will acquire the active pharmaceutical ingredients (API) business of Viatris in India for an undisclosed amount. The investment firm has entered into a definitive agreement to acquire the API operations of global pharmaceutical major Viatris in India, IQuest Enterprises said in a statement on Monday. IQuest emerged as the preferred investor following a global competitive bid, it added. As part of the deal, the company will acquire six API manufacturing facilities, three each in Vizag and Hyderabad, an R&D facility in Hyderabad, and third-party API sales. "We are excited about our largest investment in the pharmaceutical sector till date. Our investment comes at an opportune time when India is drawing significant attention amongst the global pharma industry," IQuest Enterprises Executive Director Gunupati Swathi Reddy noted. IQuest Enterprises is a multi-sector investment company. It has invested in various entities like AIG ...

EKI Energy Services picks up 26% stake in WOCE Solutions for Rs 80 lakh

EKI Energy Services Ltd on Friday said it has completed the acquisition of a 26 per cent stake in WOCE Solutions Private Limited (WOCE) for around Rs 80 lakh. In March 2023, its Board of Directors approved to subscribe to 35,140 equity shares of Rs 10 each at a premium of Rs 217.66 per share of WOCE Solutions Private Limited (WOCE), which resulted in the acquisition of 26 per cent of the equity capital of WOCE, EKI Energy Services Ltd (EKESL) said in a regulatory filing. "EKESL has successfully acquired 35,140 equity shares of WOCE, constituting 26 per cent of the equity shares capital of WOCE. As a result of the same WOCE has become an associate of the company," it said. A consideration of Rs 79.99 lakh will be paid in cash for the subscription of shares. EKESL said the acquisition will enhance the company's sustainability services by extending the facility to calculate and track carbon footprint. EKI Energy Services is a carbon credit developer and supplier across the globe.

Saregama acquires majority 51.8% stake of Pocket Aces for Rs 174 crore

Saregama, the country's oldest music label company owned by the RP-Sanjiv Goenka Group, on Thursday announced the acquisition of a majority 51.8 per cent stake in Pocket Aces Pictures, the youth-focussed digital content creator and publisher, for Rs 174 crore in an all-cash deal. The over 100-year-old Saregama, which was formerly known as The Gramophone Company of India, will also be picking up an additional 41 per cent in the fast-growing digital entertainment company over the next 15 months, the RPG Group statement said, adding the transaction completed is an all-cash deal. Pokcet Acers owns direct relationship with over 95 million younger digital-first customers across Instagram, Youtube, etc and boasts of an IP catalogue of over 3,000 content pieces ranging across web series, sketches, music videos and reels on its channels Filtercopy, Nutshell and Gobble, and releases over 30 new pieces of content every day. Its talent management arm, Clout, manages over 100 digital influencers

Emami enters into definitive agreement to acquire 26% of Axiom Ayurveda

Axiom has its own manufacturing facility in Ambala, Haryana and is setting up a fully automated new facility in Jammu (Kathua) at a cost of Rs 160 crore

TMS Ep529: Acquisition appetite, Krishna Ella, markets, sports associations

Why are business families in acquisition mode? How does Krishna Ella view Bharat Biotech's future? Is it time to bottom-fish in stock market? What happens when sports associations are suspended?

CCI clears Carlsberg's acquisition of additional 33.33% stake in CSAPL

Competition Commission of India (CCI) on Tuesday cleared Carlsberg Breweries' proposed acquisition of an additional 33.33 per cent stake in Carlsberg South Asia Pte Ltd. The deal has been cleared under the green channel route. The proposed transaction entails Carlsberg Breweries A/S (CBAS) buying an additional 33.33 per cent of equity share capital (on a fully-diluted basis) in Carlsberg South Asia Pte Ltd (CSAPL). CBAS is involved in the business of manufacturing, marketing, and distributing alcoholic beverages under numerous brands worldwide. The company is present through Carlsberg India Pvt Ltd (CIPL) and does not have any other direct or indirect business presence in the country. CSAPL is the holding company of South Asian Breweries Pte Ltd, Singapore, which, in turn, is the holding company of CIPL. "There are no horizontal overlaps, vertical/complementary links between the activities of the parties and their respective groups/affiliates," CCI said. "The proposed transactio

Lupin inks pact to acquire five legacy brands from Menarini Group

Lupin has secured the rights to five brands - Piclin, Menoctyl, Sucramal O, Pyridium and Distaclor

Manipal acquires majority stake in AMRI Hospitals for Rs 2,300 cr

Manipal Group plans to add more beds over the next 18-36 months through the inorganic route, taking its bed count to 12,000 beds across India

CCI clears acquisition of 11% of TVS Credit Services by Premji Invest

Fair trade regulator CCI on Wednesday said it has cleared the proposed acquisition of about 11 per cent stake in TVS Credit Services Ltd by PI Opportunities Fund-I Scheme-II (PIOF-II) and certain individuals. PI Opportunities Fund-I Scheme-II, is a Sebi-registered Alternative Investment Fund (AIF), owned and controlled by Premji Invest Ltd. "The combination relates to the proposed acquisition of 10.98 per cent stake of target (TVS Credit Services) by the acquirers," an official release said. "PIOF-II shall be acquiring about 10.79 per cent of shareholding in the TVS Credit (target), whereas the individual acquirers shall collectively be acquiring 0.19 per cent shareholding," it stated. The individual acquirers are senior-level management employees, partners, consultants of Premji Invest and its affiliates. TVS Credit Services Ltd is a non-banking financial company. In a separate release, the Competition Commission of India (CCI) approved the proposed acquisition of additional uni

UBS names South Korea, India, others as 'slow' on Credit Suisse approval

The uncertainties could lead to winding down businesses and asset sales, when UBS faces "difficult jurisdictions or regulators", the Swiss bank said in the document

Torrent pharma in advance talks with CVC Capital to buyout Cipla promoters

Torrent had reached out to several private equity (PE) funds, including Bain Capital to secure the necessary funds to buyout the promoter family of Cipla

Byron Allen submits $10 billion bid for ABC, other Disney networks

Allen is basing his offer on the assumption that the properties generated $1.25 billion in earnings before interest, taxes, depreciation and amortization over the past 12 months

Cipla on the block: Who's a better fit and what it means for shareholders?

As per IIFL Securities, Cipla with a dominating market share of 7% and 23% in acute therapies like respiratory and anti-infectives, respectively, would strengthen Torrent's position in these

Razorpay acquires digital invoicing, customer engagement startup BillMe

With this acquisition, Razorpay will get access to BillMe's client base of over 4,000 merchants

Adani, Emirates, Tata interested in SriLankan Airlines, claims report

Private companies, including Tata Sons, Adani Group, and Emirates, engage in discussions as the Sri Lankan government looks to privatise SriLankan Airlines

Ind-Swift Labs to sell pharma ingredients ops to Synthimed Labs for $198 mn

Ind-Swift Labs will sell its active pharmaceuticals ingredients (API) and contract research and manufacturing services (CRAMS) business