Page 8 - Merger

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AI Express, AirAsia India exploring synergies in terms of customer base

Air India Express and AirAsia India, which has changed its name to AIX Connect, are exploring synergies in terms of having unified customer touch points ahead of their proposed merger, according to an official. Both the low-cost airlines and full-service carriers -- Air India and Vistara -- are owned by Tata group. On November 2, Air India said an operational review process is underway to integrate budget carrier AirAsia India with Air India Express, and the merger is likely to be completed by the end of 2023. Post-merger, the entity will be branded as Air India Express. AirAsia India has changed its name to AIX Connect Pvt Ltd, according to data available with the corporate affairs ministry. The official said the name of the budget airline has been changed as part of the ongoing merger process. Both airlines are looking at synergies with respect to customer touch points, such as having a common website, social media handles and call centre. Other aspects, including common boardin

V-Guard Industries to acquire Sunflame Enterprises for Rs 660 crore

Deal likely to close by mid-Jan 2023, will be funded by mix of internal accruals and debt

HDFC Bank files petition for NCLT approval to the proposed merger

The bank has already received the approval of the equity shareholders, which includes public shareholders, to the proposed merger scheme

What challenges could emerge from the Air India-Vistara merger?

India's second largest airline, Vistara, is being merged with Tata-owned Air India. Apart from the opportunities, what challenges will this merger pose for the airlines? Find out what the experts say

Why merging Brand Vistara with Air India makes sense: Experts explains

With a single airline brand, Tatas aim for quick business turnaround

BSNL-BBNL merger close to finalisation, Deloitte to submit report on Friday

On July 27, the government approved a DoT proposal for the "Revival of BSNL and merger of BBNL with BSNL"

L&T Infotech, Mindtree extend fall ahead of merger, down up to 7% in 3 days

The board of directors of LTI and Mindtree fixed November 24, 2022 as the 'Record Date' for the purpose of determining eligibility of Mindtree shareholders to get shares of the amalgamated company.

Tata Consumer and Tata Coffee shareholders approve merger at Nov 12 vote

Tata Consumer Products will issue one equity share for every 22 share held in Tata Coffee to existing shareholders

NHPC board approves merger with subsidiary Jalpower Corporation

State-run hydro power giant NHPC on Thursday said its board has approved a proposal to merge the company's arm Jalpower Corporation Ltd with itself. NHPC had acquired Jalpower Corporation Ltd (JPCL) and its 120 MW Rangit Stage-IV hydro power project in March 2021 through insolvency proceedings. "Board of Directors of NHPC Ltd (Company or Transferee Company) in its meeting held on Thursday, November 10, 2022 has inter-alia approved the scheme of merger/ amalgamation of Jalpower Corporation Ltd (Transferor Company) (a wholly owned subsidiary of NHPC) with the Company," it said in a BSE filing. It also stated that since the merger is between wholly-owned subsidiary and holding company, no cash or issue of new shares shall be undertaken. There will be no change in shareholding pattern post merger. Earlier in March 2021, the company had informed the bourses that it has completed the formalities for the takeover of Rangit Stage-IV Hydro Electric Project (120 MW) by remitting Rs 165 cror

BS Number Wise: Indian deal-making enters the slow lane, shows data

There is less money for companies as buyers slow down transactions amid geopolitical tension and higher capital cost.

Centre plans to provide legal power to CCI ahead of merger with NAA

The proposed amendments will require the GST Council's approval

Zee-Sony merger: Media groups agree to sell three Hindi channels

On October 4, CCI said it has cleared the proposed Zee-Sony merger deal, which was announced in September last year

Merger of PSBs haven't impacted financial inclusion adversely: RBI

Preserving financial system stability an overriding objective for regulators says deputy governor Rajeshwar Rao

Jewelry distributor Quality Gold to go public via nearly $1 bn SPAC deal

The deal with Tastemaker Acquisition Corp includes proceeds of $279 million from the special purpose acquisition company's (SPAC) trust account, assuming no redemptions

Redrawing the media map: Firms are discovering they are better together

Sony-Zee merger caps the massive round of consolidation in the media and entertainment space that is on the cusp of change

NSE floats consultation on index components ahead of HDFC-HDFC bank merger

Currently, the entity getting merged is removed from the index and later the weightage of the merged entity is increased

Pidilite may enter Nifty 50 once HDFC gets taken off after merger

The adhesive maker's inclusion to be ad hoc; analysts divided over treatment around HDFC's removal

HDFC twins may merge a few months ahead of schedule: HDFC Bank CFO

HDFC Bank reported a 20.1 per cent year-on-year increase in net profit to Rs 10,605.8 crore in July-September

Zee Entertainment gets shareholders' nod for merger with rival Sony

Zee Entertainment Enterprises Ltd (ZEEL) on Friday said its shareholders have approved the proposal to merge with the rival Culver Max Entertainment Pvt Ltd, formerly known as Sony Pictures Networks India (SPNI). ZEEL received 99.99 per cent of the total vote polled favouring the resolution for the composite scheme of arrangement between the transferor company Zee Entertainment and Bangla Entertainment Pvt Ltd (BEPL) with the transferee Culver Max Entertainment (CME), said a regulatory filing by home-grown media major. This comes almost weeks after the fair trade regulator CCI's conditional approval to the mega merger deal between Sony and Zee, which will create one of the largest media groups in the country. ZEEL had called a meeting of its equity shareholders on Friday following the orders of the National Company Law Tribunal, which had directed it to get the scheme of arrangement approved from them as per the procedures of the Companies Act. "The approval marks yet another firm