Page 2 - Mergers & Acquisitions

Tata Consumer Products completes merger of three subsidiaries in India

FMCG maker Tata Consumer Products Ltd (TCPL) has merged its three wholly-owned subsidiaries after getting approval from NCLT and other regulatory clearances. TCPL has merged its wholly-owned subsidiaries Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd with the company, according to a statement from Tata Group FMCG arm. "We wish to inform you that the conditions outlined under Clause 17 of the Scheme, including the filing of certified copies of the order with the Registrar of Companies, of the respective companies, in Form INC-28, have been duly completed. Accordingly, in terms of the Scheme, the effective date of the scheme (of merger) is September 1, 2024," the company said in a regulatory filing. This is in line with the company's focus on simplifying and streamlining the business. This consolidation of legal entity structure will unlock efficiencies and synergies, it added. "There is no change in the operating structure for these business units a

GRM Overseas buys stake in Rage Coffee in push into new-age brands

The company becomes the largest shareholder in three-year-old Rage Coffee's parent, whose investors include Sixth Sense Ventures, and prominent figures such as cricketer Virat Kohli

US oil, gas M&A activity rose 57% in 2023 as industry consolidated: Report

The jump in spending on dealmaking and expanding reserves marks a shift in strategy following a years-long focus on shareholder returns over growth, which many firms had employed

Value of mergers and acquisitions at lowest level in at least 76 months

With 98 deals, the total value of M&A stood at $1.8 billion. In the same month last year, the value was $8 billion across 204 deals

Goldman Sachs taps BofA bankers for India dealmaking roles: Reports

India is the world's second busiest IPO market this year after the United States, with bankers expecting more activity amid a paucity of deals elsewhere in Asia, Reuters reported last month

Infosys to acquire German firm in-tech in 450 mn euro all-cash deal

Infosys will acquire a 100% stake in the German engineering R&D services provider, expanding its footprint in Europe

Magicrete completes process of acquisition of majority stake in Maxlite

Magicrete, which produces building product AAC Blocks, construction chemicals, and precast construction solutions, on Wednesday said it has completed the acquisition of a majority stake in Maxlite. The company did not disclose the actual stake that it has acquired and also the deal value. In a statement, Magicrete said this strategic acquisition would enhance its total installed capacity of AAC (Autoclaved Aerated Concrete) blocks to 1.8 million cubic metres per annum. Maxlite is an AAC Blocks manufacturer located in South India, headquartered in Bengaluru. It operates two AAC Blocks manufacturing facilities, one in Karnataka and the other in Tamil Nadu, boasting a combined annual capacity of 5,00,000 cubic meters. AAC Blocks serve as resource-efficient alternatives to traditional red clay bricks, offering superior thermal insulation and reducing construction time and structural load. They are about ten times larger than clay bricks and are manufactured using waste fly ash, thereb

Sony-Zee merger: ZEE promises legal action over termination notice

Culver Max and BEPL sent a termination notice with a $90 million fee to ZEEL after Sony cancelled the merger deal valued at $10 billion

Sony-Zee merger timeline: How leadership dispute ended the $10 bn deal

Sony Group Corp has called off its merger with Zee after nearly two years of negotiating the $10 billion deal, which was set to become India's fourth-largest media house

Sony Board to take call on $10 billion merger with Zee Entertainment today

Zee MD and CEO Punit Goenka has offered to step down from his chief executive role, ahead of the deadline for the merger deal on January 20

No rebranding plans for Ching's Secret, Smith & Jones, Organic India: Tata

Tata Consumer is set to acquire a controlling stake in Organic India at a valuation of Rs 1,800 crore and a 75 per cent stake in Capital Foods at a valuation of Rs 5,100 crore

Sony Group continues talks on merger with Zee amid reports on disputes

Sony Group and Zee Entertainment have faced disputes over the choice of the merged unit's CEO. However, terms of the deal are expected to be clarified by January 21

Global corporate landscape 2023: Mergers, closures, and leadership shifts

From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023

Samvardhana Motherson Intl to acquire Lumen Gr, Deltacarb SA for Rs 575 cr

Auto components major Samvardhana Motherson International Ltd on Friday announced acquisitions of Australia's Lumen Group and Deltacarb SA of Switzerland for nearly Rs 575 crore. The company's board approved the two acquisitions of the Lumen Group and Deltacarb SA by its wholly-owned arm Samvardhana Motherson Automotive Systems Group BV, Samvardhana Motherson International Ltd (SAMIL) said in separate regulatory filings. Lumen Group comprises Lumen Australia Pty Ltd, Lumen International Holdings Pty Ltd (which further holds 100 per cent in Lumen North America, Lumen Thailand, Lumen Europe and 90 per cent in Lumen South Africa), Lumen Engineering Solutions Pty Ltd and Lumen Special Conversions Pty Ltd, it said. However, it will not include Lumen South Africa and merger control approvals are required from the authorities in South Africa, the company said. The acquisition of Lumen group is expected to be closed by the fopurth quarter of FY2023-24 subject to satisfactory completion of

Ambuja Cements completes acquisition of Sanghi Industries at Rs 5,185 crore

As part of the deal's completion, Ambuja Cements also executed a trade (in on and off-market trade) to acquire 54.51 per cent of the voting share capital from the promoters of Sanghi Industries

Investment firm BlackRock stake in Suzlon Energy surpasses 5% level

Investment firm BlackRock Inc's equity holding has surpassed the five per cent level in renewable energy solution provider Suzlon Energy with the acquisition of about 24.73 lakh shares. "The aggregate holdings of BlackRock, Inc. (on behalf of discretionary management clients) in Suzlon Energy Limited has moved above 5 per cent," a regulatory filing has said. The filing showed that BlackRock has acquired 24,73,442 shares (0.02 per cent of total share capital) in Suzlon Energy, in addition to 68,02,13,598 shares (4.99 per cent of the total share capital) already held in the company. After the acquisition of 24,73,442 shares on November 30, 2023, BlackRock's aggregate holding has increased to 5.01 per cent in Suzlon Energy. Now, BlackRock holds 68,26,87,040 shares (5.01 per cent of the total shareholding) in the Suzlon Energy.

Biocon Biologics integrates Viatris' biosimilar biz in 31 European nations

Biocon Biologics on Thursday said it has completed the integration of the acquired biosimilar business from Viatris Inc in 31 European countries. Following the deal closure in November 2022, the company, a unit of Biocon Ltd, had earlier announced the integration of Viatris Inc's business in over 70 countries in emerging markets, effective July 1, 2023, and North America in September 2023. "The integration of the Viatris biosimilar business in Europe ahead of schedule is another important milestone for Biocon Biologics in our journey as a global biosimilar leader. We are pleased to expand access to lifesaving treatments for patients across Europe," Biocon Biologics CEO and MD Shreehas Tambe said in a statement. The pipeline of 20 products will allow the company to better address patient needs and be a reliable partner to health organisations, he added. Biocon Biologics and its partners will commercialise biosimilar products in various European countries like Albania, Austria, Belgi

Jubilant Foodworks plans to acquire additional 51.16% stake in DP Eurasia

Jubilant Foodworks Ltd on Tuesday said it plans to acquire an additional 51.16 per cent stake in DP Eurasia NV, the exclusive master franchisee of the Domino's Pizza brand in Turkey, Azerbaijan and Georgia, through a subsidiary for a consideration of up to EUR 73.36 million (nearly Rs 670 crore). Jubilant Foodworks Netherlands B.V (JFN), the company's wholly-owned arm holds 48.84 per cent ordinary shares of DP Eurasia -- which is the largest pizza delivery company in Turkey, Jubilant Foodworks Ltd (JFL) said in a regulatory filing. JFN proposes to acquire, through any permissible mode including open offer, market purchase, the entire issued and outstanding ordinary share capital of DP Eurasia NV not already held by it at a price of up to 85 pence per share from existing shareholders of DP Eurasia, the filing added. "Aggregate purchase consideration shall be up to EUR 73.36 million approximately," it said adding it would be an all-cash consideration. DP Eurasia, together with its ..

Lenskart acquires computer vision startup Tango Eye for undisclosed amount

In stores, Tango Eye's technology analyses CCTV footage to provide analytics, optimise customer flow and ensure proper adherence to all procedures

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