Page 5 - Mergers & Acquisitions

Time ripe for M&A in financial services

Financial services have been a mainstay for the broader M&A markets across cycles in India

IndiGrid inks pact to acquire 74% stake in Parbati Koldam from Reliance Infra

India Grid Trust on Saturday said that it has inked an agreement to acquire 74 per cent stake in Parbati Koldam TransmissionCompanyfrom Reliance Infrastructure. "India Grid Trust has signed sharepurchase agreement on November 28th, 2020 for acquisition of 74 per centin Parbati Koldam TransmissionCompany Ltd(PKTCL) from Reliance Infrastructure Ltd," a BSE filing said. The completion of acquisition would dependupon receipt of relevant approvals and completion of contractual obligations, it added. According to filing, the implied enterprise value (for 100% equity shares) is Rs900 croreinclusive of cash & cash reserves andnormalised tariff receivables, subject to adjustments on account of movement in cash, deviation in outstandingdebt, tariff receivables, assets, liabilities outstanding. PKTCL was incorporated on September 2, 2002. PKTCLis joint venture between Reliance Infrastructure Limited (74%) and Power Grid Corporation of India Limited(26%). PKTCL operates 458 circuitkilometres

Dr Reddy's to acquire select brands from Glenmark in Russia, Ukraine

Dr Reddy's Laboratories on Saturday said it had inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan

JSW, Liberty group may participate in strategic sale of NMDC steel plant

Nagarnar Steel Plant with 3 mn tonne capacity is likely to be commissioned by June-July next year. disinvestment process is expected to be completed by September 2021

NIIF enters road and highway sector with acquisition of two Essel projects

The deal, done through NIIF Master Fund, is pegged at Rs 1,500-1,800 crore though the firms did not divulge the figure

Tata Power sells Defence business to Tata Advance Systems to prune debt

Sale will garner enterprise value of Rs 1,076 cr as upfront payment; was completed as per a 'Scheme of Arrangement' approved by NCLT

Private equity group Inspire Brands to buy Dunkin' in $11.3 billion deal

The deal is one of the largest transactions ever in a restaurant industry that's being upended by the pandemic.

Nvidia nears deal to buy chip designer Arm for more than $40 bn: Report

(Reuters) - Nvidia Corp is close to a deal to buy British chip designer Arm Holdings from SoftBank Group Corp <9984.T> for more than $40 billion (£31.26 billion) in a deal which would create a giant in the chip industry, according to two people familiar with the matter.

BP spending $1.1 billion to enter offshore wind market with Equinor

The British oil and gas company has set itself a target of increasing its renewable power generation capacity 20 fold over the coming decade to 50 gigawatts (GW)..

Tata Power announces merger of three wholly-owned subsidiaries with itself

The company said the merger is part of a strategic initiative to simplify the group holding structure and a broader plan to set the company for future growth through fiscal consolidation

Wipro completes acquisition of Belgian firm 4C for 68 million euros

Wipro had said the acquisition would significantly strengthen its position as a leading provider of Salesforce solutions in various markets.

CG Power acquisition likely to double revenues of Tube Investments

But turnaround could stretch its finances in short term

ITC acquires spice-maker Sunrise in all-cash deal for Rs 2,150 crore

With the transaction, the company has added a 70-year-old brand and a market leader in eastern India to its portfolio

Cash-rich Indian IT services companies go aggressive in M&A space

As capital allocation is altered, dividend payout to dip in the ongoing financial year

India Inc's deal activity at a 6-year low amid Covid-19 pandemic

Last year, India Inc sealed deals worth $88.88 billion in the January-July period, but this year the total transactions are $56.73 billion, fueled mainly by RIL-Jio deals

Pension funds, PE may invest in renewable projects, roads after lockdown

Even as the lockdown has affected mergers and acquisitions (M&A) in various businesses, companies and deal consultants are certain that renewable power assets would be the first on the sale table.

In a locked-down world, investment bankers ensuring the show goes on

Billion-dollar deals aplenty for right business

Kurl-on looks at acquisitions, aims to become a home furnishings company

The company plans to achieve a turnover of Rs 1,500 crore by next year

Report predicts M&A deals worth $52 bn in India in 2019, 7% GDP growth

India M&A to remain stable despite a slowdown, says a report by Baker McKenzie.

Global economic uncertainties dampen India's M&A activity in August

the prevailing economic uncertainties resulted in August recording 36 per cent decline in terms of number of deals and 49 per cent fall in value terms