Page 9 - Merger And Acquisition

Deal activity doubles in Nov to $6.5 bn as large transactions surge: Report

Deal activity more than doubled to USD 6.541 billion in November as compared to October on the back of a surge in high-value transactions, according to a report on Tuesday. In October, the total deal activity in India was pegged at USD 2.687 billion in value terms, consultancy firm Grant Thornton Bharat said in the report. In terms of the number of transactions, November saw a decline to 132 deals as against 167 in October, primarily because of a decline in private equity investments, the report said. German major Siemens AG's 18 per cent stake buy in local unit Siemens for USD 2.28 billion was the largest transaction in November, while AU Small Finance Bank's USD 529 million acquisition of Fincare Small Finance Bank was the second largest, it said. The overall merger and acquisition activity stood at USD 4.4 billion, making November the busiest one for such deals in 2023. "The remarkable surge in M&A deal values to the USD 4-billion mark set a record for 2023, which is heartening

Venture capital Sauce.vc acquires around 3% stake in GRM Foodkraft

Basmati rice company GRM Overseas on Monday said it has sold more than 3 per cent stake in its subsidiary GRM Foodkraft to venture capital fund Sauce.vc for an undisclosed amount. Sauce has also acquired an additional 1 per cent stake from other shareholders in GRM Foodkraft, which focuses on domestic foods business. Atul Garg, MD, GRM Overseas Ltd. said the company has roped in Sauce.vc as a strategic investor. "We look forward to deriving substantial advantages from the wealth of experience and a demonstrable history of creating new-age brands by the Sauce team. Our goal is to evolve our brands into distinguished names in their respective product categories," he said. The company would intend to work with the Sauce team to identify emerging areas for launching new brands in packaged foods and to explore deepening its presence in digital channels including e-grocers, quick commerce, and e-commerce. "Sauce's investment aligns with our commitment to rapidly scale and diversify our

Axiscades Technologies acquires Hyderabad-based Epcogen for Rs 26 crore

Axiscades Technologies (Axiscades) on Wednesday said it has acquired 100 per cent stake in Hyderabad-based Epcogen. Epcogen specialises in engineering design and providing solutions for the energy sector, Axiscades said in a statement. Axiscades has acquired Epcogen for Rs 26.25 crore to fortify its position in the energy markets of the Middle East and North America, it said. "This acquisition marks a pivotal moment for both companies. Axiscades acquiring Epcogen at Rs 26.25 crore, with an additional 3-year earn-out of Rs 7 crore based on performance. The move underscores the company's commitment to driving engineering excellence and innovation in the energy sector," the statement said. Axiscades CEO and MD Arun Krishnamurthi said Epcogen has significant operations in the North American and Middle East geographies. "This strategic move not only augments our competency but also propels our expansion as a service provider into the global energy industries," he said. Bengaluru-based

L&T Finance Holdings completes merger of 3 of its subsidiaries with itself

LTFH also announced the appointment of Amresh Kumar as its chief risk officer for two years effective from December 4

Persistent Systems adds 4 execs to leadership team to fuel growth plans

Digital engineering services firm has a target of doubling annual revenue to $2 bn by 2026

CCI approves Titan's acquisition of additional stake in CaratLane

Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared the acquisition of additional stake purchased by Titan in CaratLane. CaratLane is engaged in the business of manufacture and sale of gems and jewellery in India. The combination relates to the acquisition of 27.18 per cent share capital of CaratLane (a subsidiary of Titan) by Titan Company Ltd, on a fully diluted basis, from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti, according to a release. Titan, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), is active in several businesses through lifestyle brands, including jewellery, eye care, fragrances, and fashion accessories. In August, jewellery maker Titan announced that it is going to increase its stake in its subsidiary and new-age jewellery brand CaratLane to 98.28 per cent by acquiring an additional 27.18 per cent for Rs 4,621 crore. CaratLane was started as a purely online

Buffett owned Berkshire Hathaway's cash at record $157 bn after deal slump

The hoard - which Berkshire has largely parked in short-term Treasuries - surpassed the previous high set two years ago, the Omaha, Nebraska-based firm said on Saturday

M&A activity dips amid geopolitical concerns, only 5 mega deals this year

By the end of August 2023, about 21,500 M&A deals had been announced, with a total value of $1.18 trillion. This represents a 14 per cent decrease in the number of deals

TMS Ep541: Maruti expansion, India Inc restructuring, market, Nobel disease

What is Maruti's expansion plan all about? Why is India Inc riding a merger-demerger wave? Which 5G stock is a better bet - Jio or Airtel? What is 'Nobel disease'? All answers here

Only no objection certificate given for NE SFB-Slice merger proposal: RBI

No change in approach to banking license to fintechs

Reliance Brands to acquire majority of Superdry's IP assets in India

In this JV, RBUK and Superdry will own 76 per cent and 24 per cent of the entity, respectively

Anil Agarwal's Vedanta to split biz into 6 companies to unlock value

For every share of the company, stockholders to get one additional share of each of 5 new entities

India's M&A deal value falls to lowest in the last five years, shows data

Deal value falls 69% in first nine months of 2023

M&As to pick up substantially as economy grows, says Moelis India CEO

India probably is the only market in the world where despite valuations being sticky and high, valuations haven't corrected as much, said Girotra

USA's PowerSchool acquires Indian edtech firm Neverskip for undisclosed sum

The deal will lead to the two companies creating a unified technology platform for school operations

MediBuddy raises $18mn in additional funding, to grow via acquisitions

A substantial portion of these funds will be meticulously channelled into strategic acquisitions and fortifying its existing offerings

NCLT approves Vedanta's acquisition of Meenakshi Energy at Rs 1,440 crore

Meenakshi Energy holds a substantial coal-based power plant generating 1,000 MW of electricity

Ananya Birla's Svatantra to acquire Navi Group's Chaitanya for Rs 1,479 cr

The acquisition is set to position Svatantra as the second largest NBFC-MFI in India, fostering a boost to microfinance reach and impact

Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr

Ambuja Cements' acquisition of Sanghi Industries is expected to be completed in the next three to four months

Morgan Stanley profit drops 18% in second quarter as deal doldrums persist

Global M&A activity fell 36% in the second quarter versus a year earlier, according to Dealogic. Still, its climb from the first quarter has sparked hopes of a nascent recovery