Page 6 - Merger And Acquisition

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

Intense merger activities impacted operations, business: ZEEL Chairman

Intense and prolonged merger-related activities have impacted operations and business, Zee Entertainment Chairman R Gopalan said adding the company has now taken several incremental steps to protect all stakeholders and enhance its intrinsic value through this phase. There is "significant room for performance enhancement" and a revival plan by the management team is already being put in action to accelerate growth and enhance profitability, said Gopalan in the opening remarks of an investor conference call of Zee Entertainment Enterprise Ltd (ZEEL) on Monday. The board has also decided to closely monitor the business model and plan presented by the MD & CEO of the company wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA. "We are fully cognizant that significant room for performance enhancement exists and a revival plan by the ZEEL management team is already being put in action to accelerate growth and .

JetBlue, Spirit terminate proposed $3.8 bn merger after court ruling

JetBlue and Spirit Airlines are ending their proposed USD 3.8 billion combination after a court ruling blocked their merger. JetBlue said on Monday that even though both companies still believe in the benefits of a combination, they felt they were unlikely to meet the required closing conditions before the July 24 deadline and mutually agreed that terminating the deal was the best decision for both. The Justice Department sued to block the merger last year, saying it would reduce competition and drive up fares, especially for travelers who depend on low-fare Spirit. In January, a federal district judge in Boston sided with the government and blocked the deal, saying it violated antitrust law. The airlines had appealed the ruling. The appeal hearing had been set for June.

We believe GenAI will create jobs at Bounteous and Accolite: Global CEO

US-based firms join forces, eyeing a $1 billion revenue target and doubling India's headcount

Advent PE begins merger process of Suven Pharma and Cohance Lifesciences

The merged platform will have mid-30s EBITDA margins, 30 per cent Return on Capital Employed (RoCE) and stable cash flow generation over FY20-23, the statement said

Reliance, Disney sign $8.5 bn deal to form JV, to merge media ops in India

Reliance, led by Asia's richest man Mukesh Ambani, will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake

Uday Shankar to be VC of merged Reliance-Disney media business: Report

Reliance and Disney are expected to make a formal announcement on Wednesday after signing a binding pact. Shankar is set to take a stake of around 9% in the new merged entity

M&A deal value in India declines 27% to $136 billion in 2023: Deloitte

M&A deal value in India fell 27 per cent in 2023 to USD 136 billion but the deals market is expected to remain steady in the current year, Deloitte India said in a report on Monday. "Amidst significant global challenges posed by high-interest rates, macroeconomic uncertainty, regulatory scrutiny, and geopolitical risks, India's M&A landscape stood resilient in 2023," 'India M&A Trends 2024' report said. "Despite global economic and geopolitical challenges, India's deals market is expected to remain steady, reflecting strong confidence from businesses and investors amidst a global economic slowdown," it added. In 2024, M&A (Merger and Acquisition) momentum is expected to remain steady with the manufacturing sector, driven by automotive, with deal growth expected in auto-components and Electric Vehicles (EVs). Also, the government's proactive initiatives to promote clean energy are expected to catalyse a significant rise in M&A within the energy sector. M&A in ..