HOME > MERGERS AND ACQUISITIONS

PVR acquires stake in US luxury theater chain iPic

PVR Limited, India's largest theater chain, said it agreed to acquire a minority stake in US-based luxury restaurant-and-theater company iPic-Gold Class Entertainment, LLC.The US company operates 16 luxury theaters with 121 screens across 10 States in the United States, PVR said.Ajay Bijli, Chairman and Managing Director of PVR, will join the board

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American Tower Corp buys towers of Idea and Vodafone in India for $1.2 bln

Vodafone India and IdeaCellular Ltd said they agreed to sell their standalone tower businesses in India to the local unit of American Tower Corp for an aggregate enterprise value of Rs 7,850 cr (US $1.2 billion).In case the sale is completed before the merger of Vodafone India and Idea,

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Just Dial says no acquisition proposal from Google ‘yet’

Just Dial, the local classifieds company, said it "does meet relevant corporates for exploring any business or strategic opportunities and tie-ups", but there is no proposal to be acquired by Google "as of now".The statement came in response to a report in the Business Standard daily that said Google

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TeamLease buys 40% of education technology start-up Schoolguru

TeamLease Services, one of India’s largest staffing companies, said it has agreed to acquire 40% of Schoolguru Eduserve Private Limited, an Online Learning company that works with 18 Universities.Established in 2012, Schoolguru provides services to Indian Universities to help them deliver online courses for their students.It targets open universities

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RCom says still talking to Brookfield, others to sell towers

Reliance Communications said it is in talks with several parties, including Brookfield Asset Management, to sell its tower assets."The Company is renegotiating the tower transactions with all the interested parties including Brookfield Infrastructure Group," it said.The clarification comes after reports that Brookfield had withdrawn from the tower deal completely sent

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Ruchi Soya Industries sold to Devonshire Capital

Ruchi Soya Industries said global private equity player Devonshire Capital will buy 51% of the company and 100% of certain of its 'branded packaged oils distribution business'.The money will be substantially utilized for payment to all lenders over a period of time, it said.Devonshire will pay Rs 4,000 cr for

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UFO Moviez, Qube announce merger, ratio 64:36

Two of India's top satellite-based cinema feed providers, UFO Moviez and Qube Cinema Technologies, have decided to merge to take advantage of higher scale.The merger ratio and valuation will be 63.6% for UFO and 36.4% for Qube Digital.Currently, UFO supplies its movie feeds to around 4,000 screens while Qube provides

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Alembic Pharma buys US-based generics manufacturer

Alembic Pharmaceuticals said it bought New Jersey-based generic drug developer Orit Laboratories LLC, which will bring seven approved generics and four applications with it.Orbit has "a team of eight highly experienced scientists," Alembic said, adding that the firm focuses on developing and filing oral solid and liquid products."We Welcome

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RCom to issue shares to MTS, to pay earn-out fees in case of 4G conversion

Reliance Communications said it the company's board has approved the issue of fresh shares in the company to the shareholders of Sistema Shyam Teleservices Ltd, which operates the MTS brand of telecom services in India.RCom's merger with MTS received the government's approval a few days ago.Since companies in India

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Bharti Infratel to try to buy Vodafone & Idea stake in Indus Towers

Bharti Infratel, the tower arm of Bharti Airtel, said it has decided to explore the possibility of buying out the stakes of Idea Cellular and Vodafone in rival tower company Indus.Bharti and Vodafone currently own about 42% each in Indus, while Idea holds about 11%. As a result, anyone

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Cognizant to beef up digital practice with acquisition of Zone

Continuing the trend of IT outsourcing companies topping up their digital practice with targeted acquisitions, Cognizant said it agreed to acquire Zone, a digital agency specializing in customer experience, digital strategy, technology and content creation.The transaction is expected to close in the fourth quarter of 2017, subject to

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Wipro increases stake in Oracle cloud specialist Drivestream to 44%

IT company Wipro Ltd said it increased its stake Drivestream, which focuses on implementing Oracle's cloud solutions, to 43.7% from 26.1% by investing around Rs 26 cr.Wipro had first invested in the company about four months ago, and seems to have liked what it saw. It made the latest

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Reliance Communications says MTS merger to be closed in 2 weeks, gets DoT nod

Reliance Communication Ltd said it received the approval of Department of Telecommunication (DoT) for its merger with Sistema Shyam Teleservices Limited or SSTL, which runs MTS branded services in India.With this, the Anil Ambani Group company has received all the major regulatory approvals for the merger. The closure of

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XL Catlin to buy 20% of Mahindra Insurance Brokers

Mahindra Finance said global insurance major XL Group will take a 20% stake in its subsidiary Mahindra Insurance Brokers Ltd, including the 15% currently held by LeapFrog Financial Inclusion Fund."XL Group will help support MIBL’s endeavours to increase insurance awareness and penetration in underpenetrated markets and across under-served customers

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Bharti Airtel merges Ghana arm with Tigo of Millicom

Bharti Airtel said it is merging its operations in the African nation of Ghana with the local unit of Millicom International Cellular."Under the joint agreement, Airtel and Millicom will have equal ownership (50:50) and governance rights in the combined entity, which will have revenues of approximately USD 300 million,"

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Tata Tele acquisition good for Bharti Airtel – Fitch

Bharti Airtel Limited's (BBB-/Stable) announcement that it plans to acquire the consumer mobile operations of Tata Teleservices and Tata Teleservices (Maharashtra) Ltd (Tata Telecom business) is positive for the deal participants as well as the industry, Fitch Ratings said.Bharti's credit profile will improve slightly as it is paying no

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Tata Teleservices to merge mobile business with Bharti Airtel

Bharti Airtel Limited, India’s largest telecommunications services provider and Tata, India’s leading conglomerate, today announced that they have entered into an understanding to merge Consumer Mobile Businesses (CMB) of TTSL and TTML into Bharti Airtel.The move is likely to give Airtel access to sub-GHz spectrum for expanding its

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