Trend is expected to grow as firms explore alternative debt sources
Germany's Lufthansa Group on Friday finalised its acquisition of Italian airline ITA Airways, closing a long period of uncertainty for Italy's former flagship carrier. Under the 325-million-euro (USD 350 million) deal, Lufthansa takes an initial 41 per cent stake in ITA, formerly Alitalia, from the Italian government, gaining full control by 2033 with a total investment of 829 million euros. The remaining 59 per cent will initially continue to be held by the Italian Treasury. This deal was originally announced in May 2023 and was approved by the European Commission following a year-long investigation and with conditions to protect competition. The commission noted that Lufthansa, ITA and its partners, for example, control most routes from Rome and Milan to North America. Under the deal, the merged company must make it possible for rival airlines to launch non-stop flights between Rome or Milan and central European airports, where competition is limited; make room for rivals on ...
Listed entities of top five groups collectively account for 15.3% of total value
Acquisition to increase the fifth-largest cement maker's capacity by 20 per cent
The brand, which started in 2020, is known for its ingredient-based skincare products and raised funds in its Series A from Unilever Ventures and Sequoia Capital India
Vishal Mega Mart Ltd.'s trading debut Wednesday underscored this insatiable appetite for IPOs - shares of the retailer surged more than 40 per cent. The feeding frenzy is set to roll into 2025
Under the deal, Ambuja Cements will issue 12 equity shares of the face value of Rs 2 each for every 100 equity shares of Sanghi Industries of face value Rs 10 each
statement comes after shares of US Steel tumbled more than 10 per cent on Tuesday afternoon following a Bloomberg report suggesting the deal would be killed in short order
Buys 100% stake in Core Diagnostics through cash, stock for Rs 247 crore
Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost USD 26 billion. Shareholders of The Interpublic Group of Companies Inc. will receive 0.344 Omnicom shares for each share of Interpublic common stock that they own. Omnicom shareholders will own 60.6 per cent of the combined company and Interpublic shareholders will own 39.4 per cent after the transaction is complete. The combined company will keep the Omnicom name and trade under the OMC ticker symbol on the New York Stock Exchange. The deal is expected to have annual cost savings of USD 750 million. The transaction is targeted to close during the second half of next year. It still needs the approval of Omnicom and Interpublic shareholders. Shares of Interpublic jumped more than 15 per cent before the market open on Monday, while Omnicom's stock fell more than 2 per cent.
MCTM then approached the Supreme Court against the High Court's order
The deal is projected as a strategic partnership to accelerate global growth, but regulatory approvals are still pending
Reliance Industries holds a 16.34 per cent stake in the JV, while its step-down unit Viacom18 holds 46.82 per cent and Disney the rest 36.84 per cent
The goal for Japan's largest lender is to push up its buyouts and investment in India
Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1 per cent stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49 per cent shareholding. Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49 per cent interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1 per cent equity interest in the enlarged Air India. Post-merger, SIA expects to recognise a non-cash accounting gain of around 1.1 billion Singapore dollars and also start equity accounting for its share of Air India's financial results. According to a release on Friday, the merger includes an ...
Obtaining regulatory approvals has become more difficult over the past few years, according to people familiar with the matter, who asked not to be named discussing a sensitive topic
The acquisition will help Bandhan Group expand its global footprint with new offices in the US, UK, and India, significantly enhancing its presence in these markets
The rise in the share price came after the company announced that it has acquired 100 per cent stake in Naturell (India) Private Limited (NIPL), including its wholly owned subsidiary, for Rs 390 crore
Home-grown FMCG and Ayurvedic products maker Dabur on Wednesday announced the acquisition of Sesa Care, engaged in the Ayurvedic personal care and wellness segment, at an enterprise value of Rs 315-325 crore. This new acquisition will help Dabur to expand in the Rs 900 crore ayurvedic hair oil market, the company said in a regulatory filing. It has entered into an agreement to acquire the majority 51 per cent stake from its shareholder True North (a private equity fund) for Rs 12 crore at face value. "The enterprise value is estimated to be in the range of Rs 315-325 crore, including debt of Rs 289 crore, which will be backed by the corporate guarantee of Dabur," it added. While the remaining 49 per cent shares in Sesa, there will be a share swap for the equity shares. "The share swap for the equity shares and remaining 49 per cent CRPS in Sesa will be decided at the time of filing the scheme of merger, based on the valuation reports," it said. This merger aligns with Dabur's ...
The acquisition marks Lockton's strategic expansion into the Indian market, where it aims to address the growing demand for advanced risk consulting and management services