Page 29 - Acquisition

Dalmia Bharat dips 5% a day after inking deal to buy Jaiprakash's biz units

Meanwhile, Jaiprakash Associates dipped 8 per cent to Rs 10.81, falling 13 per cent from its intra-day high, and Jaiprakash Power Ventures declined 5 per cent to Rs 7.90 on the BSE.

TVS Motor's Singapore arm to acquire EV related tech, assets in Germany

TVS Motor Company on Friday said its Singapore-based subsidiary has inked a pact to acquire Electric Vehicle (EV) related technology and assets in Germany. The company, through its wholly-owned subsidiary TVS Motor (Singapore) Pte Ltd (TVSM Singapore) has signed an agreement to acquire the assets, TVS Motor Company said in a statement. TVS Singapore will be acquiring the assets through its subsidiary BBT Vermogensverwaltungs GmbH (name proposed to be changed to Celerity Motor GmbH), it added. The purchase will help strengthen the company's expansion in the electric two-wheeler market globally, TVS Motor said. The company, however, did not disclose financial details.

upGrad's acquisition of test-prep provider Exampur may hit roadblock

Disagreement over valuation of Noida-based company which wants more from the deal, says source

V-Guard to acquire Sunflame Enterprises for Rs 660 crore in all-cash deal

Electricals and home appliances player V-Guard Industries on Friday said it will acquire Sunflame Enterprises for Rs 660 crore in an all-cash deal. The acquisition of the Delhi-based Sunflame will help V-Guard scale up its kitchen appliances business while also unlocking synergy benefits. "We have entered into a definitive agreement to acquire 100 per cent stake of Sunflame Enterprises for Rs 660 crore in an all cash deal," the Kochi-based company said in a statement. Sunflame is a debt-free company and has around Rs 50 crore cash in-hand which does not include in the deal -- implying the promoter of the selling company will take out that money before the deal is concluded. It had a topline of Rs 350 crore in FY22. The acquisition is in line with V-Guard's strategy to become a significant player in the domestic kitchen appliances segment, it added. Sunflame has a large brand portfolio which includes cooktops, chimneys, pressure cookers, mixer grinders, small kitchen appliances ...

US FTC sues Microsoft to block its $69 bn Activision Blizzard acquisition

The deal would enable Microsoft to suppress competitors to its Xbox gaming consoles and its rapidly growing subscription content and cloud-gaming business

HUL hits 52-week high as company forays into health & wellbeing category

The company will be buying a majority stake in Zywie Ventures, promoter of brand OZiva, for Rs 264.28 crore and up to 20 per cent stake in Nutritionalab for Rs 70 crore.

HUL set for health and wellbeing foray with two investment deals

To acquire majority stake in OZiva maker, 19.8% in Nutritionalab

HUL to acquire majority stake in OZiva and 19.8% in Wellbeing Nutrition

Leading FMCG maker HUL on Thursday announced the acquisition of a majority stake in OZiva and a 19.8 per cent equity in Wellbeing Nutrition with a total investment of Rs 335 crore to foray into the health and wellbeing segment. Hindustan Unilever Limited (HUL) will acquire a 51 per cent stake in Zywie Ventures Private Ltd, which owns the brand OZiva, for a consideration of Rs 264.28 crore, making its entry into the health and wellbeing segment. Besides, HUL has also announced the acquisition of a 19.8 per cent stake in Nutritionalab Pvt Ltd (Wellbeing Nutrition) for a cash consideration of Rs 70 crore. Health and wellbeing segment is a fast-evolving category in India, which according to Euromonitor Data has a total potential market size of Rs 30,000 crore. In OZiva, HUL will acquire a 51 per cent equity stake through a combination of primary infusion and secondary buyouts, said a statement from the FMCG major. "The balance 49 per cent will be acquired at the end of 36 months based

Fullerton acquisition deal: Sumitomo Mitsui Group faces $670-mn tax bill

The South Asian govt's tax department has asked the bank to pay the amount on behalf of seller Fullerton Financial Holdings Pte, arguing that it should have withheld the sum during the acquisition

Adani group becomes single-largest shareholder in NDTV with 37.4% stake

Conglomerate can now propose reconstitution of board, say proxy advisory firms

Considering options on Electrosteel: Vedanta Resources' Anil Agarwal

"But it has to have world-class capacity, and cannot be a small plant. We have a capacity of about 3 million tonnes (mt)... we are contemplating. We have to take it to 15-20 mt"

Senior journalist Ravish Kumar resigns from NDTV amid Adani takeover

Ravish Kumar has been an integral part of NDTV for more than two decades and has been conferred with the prestigious Ramon Magsaysay award and Ramnath Goenka Excellence in Journalism Award twice

AM/NS bulks up for the future, focuses on acquisitions to secure infra

Nearly Rs 90,000 crore worth of capital expenditure has been incurred so far on various asset acquisitions and projects, with a major investment of about Rs 42,000 crore

Cognizant acquires US-based management consulting firm AustinCSI

The privately-held company has more than 175 consultants who design and deliver cloud and automation solutions

Mankind Pharma acquires stake in Upakarma Ayurveda for undisclosed sum

Mankind Pharma on Monday said it has acquired a majority stake in Upakarma Ayurveda, engaged in developing, manufacturing and selling ayurvedic and herbal products for an undisclosed amount. The company's decision to invest will empower Upakarma Ayurveda to develop a wider range of products and offerings, the drug firm said in a statement. "The current lifestyle has become strenuous where people find it difficult to focus on their health. To fulfil their requirements, consumers are considering Ayurvedic remedies for long-term sustenance and boosting immunity over time. "As Mankind Pharma works towards improving the healthcare of people, we have associated with Upakarma Ayurveda in order to cater to the emerging needs of consumers," Mankind Pharma Vice Chairman and Managing Director Rajeev Juneja said. Mankind Pharma acquired the ayurvedic soulutions firm through one of its subsidiaries. Upakarma Ayurveda Founder & Managing Director Vishal Kaushik said that with the partnership, ..

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

Tata's Bisleri International buyout may be biggest in India FMCG space

A majority stake for Rs 6K-7K cr to allow TCPL's expansion in beverage space

Tube Investments of India acquires 50% stake in X2Fuels and Energy

The acquisition would be by subscribing to 10,753 equity shares for a total consideration of Rs 6.15 crore

JK Paper to acquire Horizon Packs, Securipax Packaging for Rs 578 cr

Paper and packaging board company JK Paper on Monday said it will acquire Horizon Packs Private Ltd and Securipax Packaging Private Ltd in phases for about Rs 578 crore. HPPL and SPPL are India's leading corrugated packaging manufacturers with seven plants across the country, the company said in a regulatory filing. "JK Paper has entered into a share purchase and shareholders' agreements for the acquisition of 85 per cent shares of Horizon Packs Private Ltd (HPPL) and Securipax Packaging Private Ltd (SPPL), and the balance 15 per cent within 3 years as per the respective SPSHAs," the filing said. JK paper will acquire 26.92 crore equity shares in HPPL for Rs 19.33 per share and 4.63 lakh equity shares for Rs 1,256.95 apiece in SPPL -- representing an 85 per cent stake in each company. Incorporated in 2021, Horizon Packs is headquartered in Mumbai and has six plants across India. Delhi-based SPPL, incorporated in 1980, has its manufacturing facility at Roorkee. "It is a privilege t

RHI Magnesita to acquire DBRL's refractory business for Rs 1,708 crore

RHI Magnesita is in process of acquiring the refractory business of Dalmia Bharat Refractories Limited (DBRL) in India for about Rs 1,708 crore, Stefan Borgas, CEO of the Vienna-based company, has said. The share swap deal is being made through RHI Magnesita India, he added. "DBRL will transfer its business to Dalmia OCL (DOCL). Under the terms of a share swap agreement, RHI Magnesita will acquire all outstanding shares in DOCL in exchange for 27 million new shares in RHI Magnesita India Limited," Borgas said. Based on the issuance price of RHI Magnesita India Limited at Rs 632.5029 per share, the share consideration had a value of approximately Rs 1,708 crore (about 208 million euros), the CEO said. The acquisition will significantly increase RHI Magnesita's presence in the fast-growing Indian refractory market, with steel production in India expected to grow 12 per cent in 2022, and a 7-8 per cent compound annual growth rate until 2030, Borgas added. Refractory is used by a wide