Page 10 - Merger And Acquisition

M&As in India collapse 76% in H1 2023 on global macros, Hindenburg

In May last year, Adani Group was the major player in M&As by buying Ambuja Cement in a $10.5 billion transaction

HDFC-HDFC Bank merger: The story behind success of housing finance behemoth

In a press conference on June 27, HDFC's chairman Deepak Parekh said that the board of these two companies will meet on June 30 to finalise the merger and it will be effective on July 1

ThoughtSpot acquires business intelligence firm Mode Analytics for $200 mn

Deal to take ThoughtSpot's ARR past $150 million, double its customer base; will also expand its presence in India to Kolkata, where 31 Mode Analytics staffers will join ThoughtSpot team

PFC Consulting takes over SPV to develop independent transmission projects

PFC Consulting Limited has incorporated a special purpose vehicle (SPV) as a wholly-owned subsidiary for the development of independent transmission projects, according to a regulatory statement. PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation Limited (PFC), under the Ministry of Power, is the nodal agency for the development of integrated power development scheme(IPDS), ultra mega power projects (UMPPs) and bid process coordinator for independent transmission projects (ITPs). "Bikaner III Neemrana II Transmission Limited for development of transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-1: Bikaner Complex) Part-C", a special purpose vehicle (SPV) for development of independent transmission projects has been incorporated as a wholly-owned subsidiary of PFC Consulting Ltd," Power Finance Corporation informed the exchanges. The SPV has to be transferred to the successful bidder selected through the International ...

Deal activity plunges 87% YoY in May to $4.6 bn in value, 45% in volume

Deal activities fell a steep 87 per cent in May to USD 4.6 billion in value and by 45 per cent in volume terms to just 106 deals, according to an industry report. May 2022 witnessed four multi-billion-dollar deals totalling USD 31.5 billion, while the reporting month saw big-ticket transactions, industry tracker Grant Thornton said on Monday. The domestic market is also experiencing a downturn in deal activity following the turmoil in the global markets as a whole, especially in the global banking sector and the rising interest rates leading to high levels of volatility and uncertainty in the deal street, Shanthi Vijetha, a partner at Grant Thornton said. M&As saw a steep 98 per cent fall in value and 45 per cent decline in volume compared to last May, recording only 22 deals valued at USD 675 million as there were practically no cross-broader deals, owing to global macroeconomic challenges, concerns of a potential recession and uncertainty surrounding valuations. Domestic volumes

Nazara's Nodwin Gaming raises $28 mn of equity investment from 5 investors

Funds will be utilised for IP development, geographic expansion and M&A

Ministry of corporate affairs notifies timelines for fast-track M&As

Experts however said that while the government move is a step in the right direction, on the ground the implementation would be hard

Exploring M&A opportunities in overseas markets; plan to launch IPO: Vinsys

IT services company Vinsys on Wednesday said it is exploring acquisition opportunities in overseas markets, including the US and the UK, to expand its global reach and also announced plans to launch its maiden public issue. Pune-based Vinsys offers customised courses for sectors such as BFSI, telecom, and government departments, where training for IT and processes is essential. It has a team of over 800 professionals certified by major tech companies and institutions. The company clocked a revenue of Rs 157.30 crore and a net profit of Rs 16.02 crore during the last fiscal year, Vinsys said in a statement. Currently, Vinsys operates in the UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, the UK, and the US. As part of the expansion plan, the company said it is actively seeking inorganic growth opportunities to expand its reach in new markets, including the US and the UK, while continuing to consolidate its position in the Middle East. The company also plans to open a new corporate

Nam Estates-Embassy One merger faces delay, says Indiabulls Real Estate

The company's market valuation fell Rs 748.59 crore to Rs 2,997.63 crore

Merge, acquire, survive: Startups on consolidation route as funding slows

49 M&A deals in the first quarter of 2023 already as consolidation continues in the ecosystem

Stay away from expensive M&As: Lenders to Anil Agarwal's Vedanta

Group cannot take recourse to VRL, Vedanta's books to bid for BPCL

Butterfly Gandhimathi slips 5% on merger with Crompton Greaves Consumer

Crompton Greaves will issue 22 fully paid up shares of Rs 2 each for every five fully paid up shares of Rs 10 each of Butterfly

With a 38% jump, India's M&A activity touched all-time high in 2022

Outbound M&A activity increased 31.6% year-on-year to hit $9.8 billion

CCI approves acquisition of 100% equity share capital of L&T IDPL, KTL

The Competition Commission of India (CCI) approved the acquisition of 100 per cent of the equity share capital of L&T Infrastructure Development Projects Limited (L&T IDPL) and Kudgi Transmission Limited (KTL), by Epic Concesiones Private Limited (ECPL) and Infrastructure Yield Plus II (IYP II), respectively, under Section 31(1) of the Competition Act, 2002.

Dealmakers in India should expect another strong year for M&As: JPMorgan

It's unlikely for the country to repeat such a high mark this year, there will be decent deal flow to keep the bankers busy, said Nitin Maheshwari, JPMorgan's head of M&A for India

A question of quorum

Understrength CCI undermines business climate

Compass Group's Elior India acquisition stalled due to governance glitches

The tribunal directed Elior India to deposit Rs 9 crores as interim relief for dues payable to the former CEO Sanjay Kumar should it decide to proceed with the sale

Competition Commission to invoke 'doctrine of necessity' for M&A deals

In a significant move, the Competition Commission in the absence of requisite quorum will soon invoke the 'doctrine of necessity' principle to examine merger and acquisition deals, according to sources. Currently, the Competition Commission of India (CCI) has only two members and the post of Chairperson is vacant since Ashok Kumar Gupta retired on October 25, 2022. For examining mergers and acquisitions, also known as combinations in the CCI parlance, the fair trade regulator needs a quorum of three members. Since there is a lack of quorum, many deals are awaiting approvals. Against this backdrop, the sources said that Attorney General R Venkataramani has given a favourable opinion to the corporate affairs ministry with respect to the CCI invoking the 'doctrine of necessity' for examining combinations. Generally, the 'doctrine of necessity' allows carrying out certain activities which are not permitted in the normal course. The corporate affairs ministry is the administrative mini

Budget 2023: GIFT City gets a big boost as govt announces several sops

The Budget provided acquisition financing by units of foreign banks set up at the IFSC-a move that will bring down the cost of financing for outbound mergers and acquisitions (M&A)

India bucked slowdown to emerge as global M&A hotspot in 2022: Report

In the country's fourth straight year of a steady increase in strategic M&A, deal volumes hit record levels and deal value rose by 139% in 2022