Page 6 - Merger And Acquisition

M&A activity: Deals fell 60% in April to $5.19 bn despite more transactions

The overall deal activity by value declined by a sharp 60 per cent to USD 5.192 billion in April as compared to the preceding March's USD 12.934 billion, a report said on Monday. This was despite a 24 per cent increase in the number of deals at 176 during the month, the report by a consultancy firm said. The highest decline by value was in the merger and acquisitions transactions, which came down 75 per cent to USD 2.526 billion when compared with USD 10.212 billion in March, while the private equity transactions by value were marginally down at USD 2.666 billion, the report by Grant Thornton Bharat said. Within the broader M&A, the decline was sharpest in outbound deals that plummeted to USD 24 million as against USD 9.072 billion a month ago, it said. The Adani group's 8 per cent stake increase in Ambuja Cement and ACC for a cumulative USD 1.8 billion in two transactions was the highest M&A activity of the month, it said. "The deal outlook for 2024 continues to remain ...

Venturi Partners purchases stake of $27 million in K12 Techno Services

K12 Techno is a platform operating in the private education sector in India

Adani Energy Solutions arm to acquire 100% stake in Pointleap Projects

Adani Electricity Mumbai Ltd on Thursday signed an agreement to acquire 100 per cent stake in Pointleap Projects Pvt Ltd (PPPL) for a consideration of Rs 13.15 crore. Adani Electricity Mumbai Limited (AEML) is a subsidiary of Adani Energy Solutions Ltd (AESL). "AEML today executed Share Purchase Agreement (SPA) with Windson Projects LLP (WPLLP) for acquiring 100 per cent equity shares of PPPL," AESL said in a regulatory filing. The acquisition is expected to be completed within 4-5 working days from the execution date of SPA, it said.

Airtel appoints Ambareesh Mandelia as head of M&A, business development

Bharti Airtel on Wednesday said it has appointed Ambareesh Mandelia as head of M&A and business development. Before joining Airtel, Mandelia was heading the corporate health and wellness business units at Tata 1mg, along with corporate strategy. "Ambareesh Mandelia has been appointed as Head M&A and Business Development of the Company with effect from May 01, 2024," Airtel said in a regulatory filing. Mandelia is a qualified chartered accountant from the Institute of Chartered Accountants of India, 2003 batch. He has over 20 years of experience in investment banking, mergers and acquisitions, strategy and corporate development.

CESC acquires co building 300 MW solar park in Rajasthan for Rs 3.84 cr

CESC Ltd on Friday said one of its step-down subsidiaries has completed the acquisition of a company that is in the process of implementing a 300-MW solar park in Rajasthan. The acquisition aims at bolstering the renewable energy portfolio of the power utility. In a regulatory filing, CESC said Purvah Green Power has completed the acquisition of the 100 per cent stake in Bhadla Three SKP Green Ventures at a consideration of Rs 3.84 crore. The power utility said that the acquired company is developing a solar park with a capacity of 300 MW in Phalodi district of Rajasthan, and its operations are entirely based in India. "The target company has not yet generated any revenue, as its project is still under development. However, it has obtained the necessary approval from the central transmission unit for interstate evacuation of solar power with a capacity of 300 MW and has partially acquired land," CESC said in the filing. The power utility did not provide details regarding the ...

Sandur Manganese & Iron Ores to acquire 80% stake in Arjas Steel

Sandur Manganese & Iron Ores Ltd (SMIORE) on Friday said its board has approved purchase of 80 per cent stake in Arjas Steel Pvt Ltd by entering into a share purchase pact. The company did not reveal the financial details of the deal. However, the enterprise value of Arjas Steel Pvt Ltd (ASPL) is Rs 3,000 crore. "The board of directors.... approved strategic business acquisition through purchase of 80 per cent equity share capital of ASPL, by entering into a share purchase agreement," the company said in a BSE filing. Additionally, 19.12 per cent stake in ASPL will be acquired by BAG Holdings Pvt Ltd --an entity owned by Bahirji A Ghorpade, one of the promoters of SMIORE. The deal is expected to complete within seven months, subject to regulatory conditions of the share purchase agreement. "This acquisition marks a significant milestone for SMIORE as we venture into steel and value-added products manufacturing. It not only unlocks numerous synergies but also represents a ...

Strong demand, demerger hopes positive for Hindustan Zinc's stock

For FY25, the management expects mined metal production of 1,100-1,125 kt and refined metal production of 1,075-1,100 kt

ITC Infotech to acquire Pune-based Blazeclan Technologies for Rs 485 crore

This acquisition is expected to augment ITC Infotech's capabilities to service its customers in a multi-cloud and hybrid cloud environment

Zee-Sony deal: ZEE withdraws merger implementation application from NCLT

The Zee statement said the Board took the step based on legal advice after a detailed consultation with legal experts

Still early days for GenAI on revenue side, says LTIMindtree CEO & MD

The desired results of the merger have been impacted by the prolonged slowdown that the industry is witnessing

Pilots raise burnout concerns as Vistara tries to resolve flight crisis

Vistara Airlines, soon to merge with Air India, hoped to run flights on normal schedule by the weekend after town hall with pilots

Blackstone to invest $2 bn annually in India with primary focus on infra

PE major wants India to expedite M&A clearances and enhance commercial dispute resolution

Aon completes transaction to acquire Global Insurance Brokers in India

The process is expected to be completed later this year. In the meantime, Global Insurance Brokers will operate independently as an Aon company

Blackstone to invest $2 bn yearly in India, wants quicker M&A clearances

Global private equity major Blackstone Group is confident of investing USD 2 billion annually in India, a top official said on Wednesday. Its chief operating officer Jonathan D Gray pitched for a slew of measures to improve the ease of doing business for firms like it in India, including quicker approvals on mergers and acquisitions, easier privatisation of listed companies, and improvements in dispute resolution in commercial matters. The New York-based group, which has been operational in India for nearly two decades, said Indian PE investments have delivered the highest return for it worldwide, and the investment in realty, which made it the largest landlord in the country, has also delivered well. "We plan to invest around USD 2 billion every year in India," its senior managing director Amit Dixit told reporters here. The firm has invested a total of USD 50 billion in the country till now, and the value of its assets, after accounting for the exits, stands at USD 30 billion. It

LatentView Analytics board approves acquisition of Decision Point

The strategic acquisition would enhance LatentView's prospects in data engineering, data science, data visualisation, advisory services, and GenAI readiness

M&A deals hit slow lane, drop 43% in deal value since January 2024

Indian companies had reported deal value worth $23.5 billion between January to 22 March 2023

Govt proposes exempting certain M&A deals from CCI approval requirement

The government has proposed exempting intra-group transactions and certain other mergers and acquisitions from the requirement of Competition Commission approval, a move that is likely to help in reducing the regulatory burden on the watchdog. Draft rules to exempt certain categories of combinations from the Competition Commission of India (CCI) approval requirement have been issued by the corporate affairs ministry. Vaibhav Choukse, Partner & Head - Competition Law at JSA Advocates & Solicitors, said the draft rules enlist certain kinds of M&A (Merger & Acquisition) transactions which will not require approval from the CCI. These include intra-group transactions, certain types of minority and creeping acquisitions, and rights issue as they will not have an impact on the competition in the market, he added. According to him, the rules will replace and modify the existing categories of M&A transactions that are exempt. The rules also modify the affiliate test ...

Ferrovial arm Cintra to acquire 24% stake in IRB Infra Invit from GIC

The trust is an infrastructure investment trust (InvIT), a special investment vehicle in which IRB Infra holds a 51 per cent stake and 49 per cent equity is held by affiliates of GIC

Triveni Engineering acquires 25.43% stake in Sir Shadi Lal Enterprises

Sugar company Triveni Engineering & Industries Ltd has acquired a 25.43 per cent stake in Sir Shadi Lal Enterprises Ltd (SSEL) for Rs 35 crore and launched an open offer to shareholders for acquiring an additional 26 per cent stake. Triveni Engineering is one of the leading integrated sugar producers in the country. It is also into engineered-to-order high speed gears & gearboxes and water and waste water management business. In a statement, the company said it has acquired a 25.43 per cent stake in SSEL. Pursuant to a share purchase agreement executed with Vivek Viswanathan and Radhika Viswanathan Hoon on January 30, 2024, the company on Monday acquired 25.43 per cent equity stake in SSEL for an aggregate consideration of Rs 35 crore, i.e. at a price of Rs 262.15 per equity share of SSEL. To acquire a majority stake in SSEL, the company had launched an open offer to the shareholders of SSEL to acquire up to 26 per cent of the outstanding voting share capital at Rs 262.15 per .

CIEL Group acquires strategic stake in Courseplay, plans IPO in FY25

HR solutions provider says acquisition will help it expand business abroad