Reliance Infra to turn cash surplus as MERC approves Mumbai op sale to Adani

Reliance Infra to turn cash surplus as MERC approves Mumbai op sale to Adani

2018-06-28T13:30:05+00:00 On

Anil Ambani-led Reliance Infrastructure said it has won approval from the Maharashtra Electricity Regulatory Commission for the sale of its Mumbai power business to Adani Transmission Ltd. It said it now expects to close the Rs 18,800 cr transaction next month. Reliance…

HCL buys Germany-based IT & engineering services provider

HCL buys Germany-based IT & engineering services provider

2018-06-27T11:35:07+00:00 On

HCL said it was buying H&D International Group, a Germany-based provider of IT and engineering services to the automotive industry, for an undisclosed sum. It described H&D International as one of the largest IT service providers in the German automotive industry. “H&D…

Fortis Healthcare drops plan to demerge SRL Diagnostics

Fortis Healthcare drops plan to demerge SRL Diagnostics

2018-06-14T09:17:20+00:00 On

Fortis Healthcare said it has cancelled its plan to demerge and list its diagnostics arm, SRL Ltd, and will withdraw the concerned application before the authorities. “The Scheme is currently pending for approval with the National Company Law Tribunal, Chandigarh Bench. Further,…

Fortis Healthcare calls for fresh bids from all three parties

Fortis Healthcare calls for fresh bids from all three parties

2018-05-29T15:44:57+00:00 On

Fortis Healthcare Ltd said it has decided to call for fresh bids for investing into the company for a controlling stake. The move follows a messy proposals and counter-proposals by the three main bidders — a team of promoters of Hero MotoCorp…

Future Retail buys Foodworld supermarket chain for Rs 41 cr

Future Retail buys Foodworld supermarket chain for Rs 41 cr

2018-05-22T08:52:36+00:00 On

Kishore Biyani-promoted Future Retail has bought Foodworld, a supermarket chain that is popular in Bangalore, for Rs 40.79 cr in cash. The acquisition of the grocery-focused retail chain will strengthen Biyani’s existing portfolio of super markets, particularly the smaller stores under the…

PE player L Catterton buys 10% in Future Lifestyle, owner of Brand Factory, Central

PE player L Catterton buys 10% in Future Lifestyle, owner of Brand Factory, Central

2018-05-21T13:21:10+00:00 On

L Catterton Asia, the Asian unit of the consumer‐focused private equity firm, will take a stake of around 10% in Future Lifestyle Fashions Ltd, the company that operates the Brand Factory and Central fashion stores in India. The valuation or the amount…

Strides Shasun, Apotex to merge Australian ops to create biggest generics player

Strides Shasun, Apotex to merge Australian ops to create biggest generics player

2018-05-09T12:07:22+00:00 On

Pharma player Strides Shasun said it has agreed in principle to merge its Australian business with the Australian operations of peer Apotex. Both have substantial businesses in Australia; Strides under the Arrow brand and Apotex under its primary brand. The merger will…

Malaysia’s IHH Healthcare releases details of Rs 4,000 cr bid for Fortis Healthcare

Malaysia’s IHH Healthcare releases details of Rs 4,000 cr bid for Fortis Healthcare

2018-04-24T17:27:08+00:00 On

Malaysia’s IHH Healthcare has come out with a binding offer to invest Rs 650 cr in Fortis Healthcare, and follow it up with Rs 3,350 cr after conducting three weeks of due diligence on the company’s account books. The move competes with…

Fortis Healthcare sets up expert committee to evaluate all bids

Fortis Healthcare sets up expert committee to evaluate all bids

2018-04-19T17:14:55+00:00 On

Hospital chain Fortis Healthcare said it has set up a special committee to evaluate the bids submitted by various parties to invest money into the company. It said the company has received binding offers from the Manipal – TPG consortium and the…

Munjals and Burmans sweeten their offer for Fortis Healthcare, drop conditions

Munjals and Burmans sweeten their offer for Fortis Healthcare, drop conditions

2018-04-19T09:08:58+00:00 On

Embattled hospital chain Fortis Healthcare said it received an improved combined offer from the Munjals of Hero MotoCorp and the Burmans of Dabur Ltd. Under the revised terms, the investors are willing to invest Rs 1,500 cr, against the Rs 1,250 cr…

HCL Infosystem’s attempt to sell Middle East unit falls through

HCL Infosystem’s attempt to sell Middle East unit falls through

2018-04-16T09:41:35+00:00 On

HCL Infosystems said its deal to sell its Middle East and Africa unit for about Rs 7.34 cr has been canceled after the buyer failed to make payment. “The closure of transaction was subject to certain conditions precedent as specified in the…

Supreme Court lifts HC stay on RCom asset sale to Jio, no relief in NCLT case

Supreme Court lifts HC stay on RCom asset sale to Jio, no relief in NCLT case

2018-04-05T15:21:59+00:00 On

Anil Ambani Group’s Reliance Communications cleared a major hurdle for the sale of its assets to Reliance Jio with the Supreme Court lifting the stay imposed by the Bombay High Court on the transaction. However, there was no immediate relief for the…

Tata Steel declared successful bidder for Bhushan Steel

Tata Steel declared successful bidder for Bhushan Steel

2018-03-23T09:12:17+00:00 On

Tata Steel said it has been declared as the successful resolution applicant by the Committee of Creditors of Bhushan Steel Limited, laying the ground for one of the biggest acquisitions in India’s iron and steel sector. Tata Steel said it has has…

Balesh Sharma to head Vodafone-Idea Cellular after merger, Himanshu Kapania moved to Group

Balesh Sharma to head Vodafone-Idea Cellular after merger, Himanshu Kapania moved to Group

2018-03-22T19:09:06+00:00 On

Aditya Birla Group and Vodafone have announced the list of office bearers who will run the company resulting from the merger of Vodafone India and Idea Cellular. Balesh Sharma, who is currently Chief Operating Officer of Vodafone India, has been chosen to…

RCom says confident of completing asset sale to Reliance Jio on time

RCom says confident of completing asset sale to Reliance Jio on time

2018-03-22T15:58:04+00:00 On

Anil Ambani-led Reliance Communications said it is confident of completing the sale of the assets related to its mobile network to Reliance Jio on time. The company’s statement was in the context of the Supreme Court refusing to give any urgent relief…