Page 30 - Acquisition

Google completes $5.4 bn acquisition of cyber security firm Mandiant

Google has completed the $5.4 billion acquisition of cyber-security firm Mandiant, Google Cloud CEO Thomas Kurian announced

JPMorgan to boost payments business with US firm Renovite purchase

Renovite's founder and chief executive Viren Rana called JPMorgan's payments division a "natural home" for the company's people and technology

Tata group in talks with Bisleri to acquire a stake in company: Report

Tata Group is understood to have initiated talks with Bisleri International to acquire a stake in the packaged water company, according to sources. It is in a very preliminary stage and would be premature to say a deal would fructify, a person in the know of the development said. The Tata Group houses its consumer business under Tata Consumer Products Ltd (TCPL) which also sells packaged mineral water under the brand Himalayan and with brands as Tata Copper Plus Water and Tata Gluco+ in the hydration segment. The talks are understood to have been initiated by the Tata group FMCG arm TCPL. However, when contacted both the companies denied commenting over the development. "Tata Consumer Products does not comment on market speculation," said a Tata Consumer Products spokesperson in an e-mailed reply. A Bisleri International spokesperson also said it "does not comment on market speculation". According to industry observers, if the deal is finalised, it would provide the Tata group F

Ambuja Cements and ACC stocks close much above the offer prices

The shares of Ambuja Cement closed at Rs 453 a share -- far above the open offer price of Rs 385 a share -- making the offer unattractive for its shareholders.

Kotak Securities buys investment platform for advisors, MF distributors

Over 2,300 distributors use the FundExpert Fintech platform to manage mutual fund portfolios worth over Rs 15,000 crore

Varde Partners to pick up 15% in Reliance Power for Rs 933 crore

Reliance Power's stock price closed trade at Rs 21.30 a share on Thursday, down 1.62 per cent over the previous day's close

Reliance Retail buys into 'desi' power by acquiring local consumer brands

By acquiring a string of local consumer brands, the conglomerate is looking to build volumes and scale in its private label retail business

Reliance Industries to acquire 79.4% stake in US-based SenseHawk for $32 mn

California-based SenseHawk, which was founded in 2018, is an early-stage developer of software-based management tools for the solar energy generation industry

CCI clears PayU's $4.7 billion BillDesk acquisition after a year

BillDesk, founded in 2000, is an Indian success story and one of the leading payment businesses in the country

Will NDTV turn out to be Adani's most challenging acquisition?

Gautam Adani is on an acquisition spree of late. But one of his recent takeover attempts seems to have run into rough weather. Acquisition of NDTV may not be as easy like others. Find out why

After Patanjali, Reliance Retail could be the next big disruptor in FMCG

Other FMCG companies will have to increase their advertising spends in segments Reliance makes a meaningful acquisition in order to stay competitive.

Tata Steel infuses around Rs 54 cr in TSML via additional shares

The funds will be used by TSML to meet capital expenditure requirements, a regulatory filing said.

How an unpaid loan aided Adani firms to make hostile takeover bid for NDTV

Adani group's acquisition of 34-year-old broadcaster NDTV will help its owner Gautam Adani, the world's fourth-richest man, to join a club of global tycoons in the media business. But behind that acquisition is an unpaid loan that New Delhi Television's (NDTV) founders Prannoy and Radhika Roy had taken from a company linked to rival billionaire Mukesh Ambani in 2009-10. Vishvapradhan Commercial Pvt Ltd had loaned Rs 403.85 crore to NDTV promoter company RRPR Holding Pvt Ltd. Against this interest-free loan, RRPR issued warrants to VCPL entitling it to convert them into a 99.9 per cent stake in RRPR in case it isn't paid-back. VCPL ownership changed hands in 2012. Adani group firm first acquired VCPL from its new owner and exercised the option to convert unpaid debt into a 29.18 per cent stake in the news channel company. Thereafter, it made a Rs 493 crore open offer to buy an additional 26 per cent stake from the public in line with the country's takeover norms. Roys considered ...

TVS to acquire 48% stake in two-wheeler startup DriveX for Rs 85 cr

TVS Motor Company on Wednesday said it will acquire 48 per cent stake in Narain Karthikeyan's pre-owned two-wheeler startup 'DriveX' for a consideration of Rs 85 crore. The company said it will acquire 48.27 per cent stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the brand DriveX', through primary and secondary investments. Founded by Formula 1 driver Karthikeyan, DriveX is into leasing of two-wheeler motorcycles and scooters and selling, trading, and distributing pre-owned two-wheeler motorcycles and scooters. "DriveX has a vision to bring a change in this segment by building trust, assurance, and transparency through end-to-end, high-quality products and customer experience through innovative solutions. We are confident of DriveX ability to deliver on this vision," TVS Motor Company Managing Director Sudarshan Venu said in a statement. DriveX Founder and CEO Karthikeyan said DriveX is a digital first business, serving all brands with ...

Adani to launch open offer to acquire stake in ACC, Ambuja Cement on Aug 26

The Adani Group is likely to launch next week an open offer worth Rs 31,000 crore to acquire 26 per cent stake each in Swiss firm Holcim's two Indian listed entities Ambuja Cements and ACC, from public shareholders. In May this year, the Adani Group announced that it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. Markets regulator Sebi granted approval for the open offer this week. The open offer is estimated at over Rs 31,000 crore if fully subscribed. In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment. As per the revised schedule submitted by ICICI Securities and Deutsche Equities India - which are the managers of open offer - tendering of the shares in the open will start from August 26 as against the earlier date of July 6. This will end on September 9, 2022. In Ma

Adani Power to acquire DB Power for Rs 7,017 crore enterprise value

Adani Power on Friday said it will acquire DB Power Ltd, which owns and operates a 2 x 600 MW thermal power plant at district Janjgir Champa in Chhattisgarh, at an enterprise value of Rs 7,017 crore for cash consideration. DB Power has long- and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably, it added. "Adani Power Ltd has agreed to acquire DB Power Limited ("DB Power"), which owns and operates a running 2x600 MW thermal power plant at District Janjgir Champa in Chhattisgarh," the company said in a BSE filing. The cost of acquisition will at enterprise value of Rs 7,017 crore, subject to adjustments on the closing date, for cash consideration. Adani Power will acquire 100 per cent of the total issued, subscribed and paid up equity share capital and preference share capital of Diliigent Power Private Limited (DPPL). DPPL is the holding company of DB Power, and

Mike Novogratz's Galaxy Digital terminates $1.2-bn acquisition of BitGo

"We are committed to continuing our process to list in the US and providing our clients with a prime solution that truly makes Galaxy a one-stop shop for institutions," he added.

CCI approves acquisition of stake in IIFL Home indirectly by ADIA Group

The proposed transaction relates to the acquisition of up to 20 per cent stake in IIFL Home Finance by Platinum Owl C 2018 RSC Ltd, a trustee acting for Platinum Jasmine Trust.

CCI clears acquisition of Holcim's stake in ACC, Ambuja by Adani Group

The proposed combination involves acquisition of 100 per cent stake in Holderind Investments Ltd by Endeavour Trade and Investment Ltd.

Share acquisition case: Let RIL access documents, Supreme Court tells Sebi

'Regulator has a duty to act fairly', says apex court in order that gives relief to the company