GVK Power & Infrastructure Ltd said it has sold its 217 MW (Phase 1) Power Plant situated at Jegurupadu Village, in Rajahmundry in Andhra Pradesh to AP Transco, the Andhra Pradesh power transportation utility, as per an agreement. “GVK Industries Ltd has received a notice from the AP Transco stating that they have exercised their […]
Bharti Airtel said its deal with Helios Towers Africa to sell telecom towers in Tanzania and Tchad has fallen through. “…the agreements for sale of tower assets in Tanzania and Tchad between the respective subsidiaries of Bharti Airtel Limited and have lapsed and therefore stands terminated,” said the company. In July last year, Bharti Airtel […]
The proposed merger between petroleum producer Cairn India and its parent Vedanta Plc is “likely to be unlikely”, Edelweiss Securities said. Raising the question of minority interest, Edelweiss said the deal does not seem to offer any overt benefits to Cairn India. “From Cairn’s perspective, we fail to understand the benefits of any synergies that […]
Reliance Communications and Sistema Shyam Teleservices (MTS) announced that they were in exclusive discussions to merge their operations. While this was seen as being in the works, especially after a recent statement by Sistema’s Dmitry Shukov, analysts are saying that this merger will be a win-win for both parties. “If they can merge, then it […]
Debt-laden DLF group has sold its cinema chain, DT Cinemas, to the biggest operator in the space – PVR Ltd – for Rs 500 crore. In a statement, PVR said the acquisition of DT Cinemas would add 29 screens and 6,000 seats from 8 properties in the National Capital Region and Chandigarh. Over the next […]
Tata Consultancy Services Ltd has won shareholder approval for its ongoing merger with unit CMC Ltd. TCS had announced the merger late last year. A court convened meeting of shareholders of TCS was called yesterday, and over 99% of the votes cast on the subject were in favor of the merger. TCS already owned a […]
Nokia and Alcatel-Lucent said they were merging their operations into one company, answering the speculation that Nokia may buy out the wireless business of the French company. The announcement comes just a day after Nokia confirmed talks with Alcatel. The two companies have entered into a memorandum of understanding under which Nokia will make an […]
DLF Ltd said it had not sold the 2nd phase of its Pune IT Park to private equity firm Blackstone. DLF was responding to a query raised by the National Stock Exchange of India after the Hindu Business Line carried an item titled ‘Has DLF sold Pune IT Park 2nd Phase to Blackstone’. However, said […]
US-based pharma company Mylan Inc said it was buying “certain female health care businesses” from Famy Care Ltd of India. Famy is largely into generic oral contraceptive products (OCPs) for women. The acquisition will be for $750 million (Rs 4,600 cr) in cash plus additional contingent payments of up to $50 million. The deal makes […]
Welspun Enterprises Limited (WEPL), part of the $ 3 billion Welspun Group today completed the sale of Welspun Maxsteel Limited (WMSL) to JSW Steel Limited (JSW). The two companies had agreed to the transaction on 18th August 2014. The deal which included the sale of the entire shareholding of WMSL held by WEPL to JSW […]
Hines, the international real estate firm, has launched a new $250 mln investment vehicle known as Hines India Residential along with an international partner for investment into the Indian housing real estate sector. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest […]
Mphasis Ltd reported a growth of 2% in its organic revenue for the first quarter, net of rupee appreciation. However, total revenue fell 3.5% quarter on quarter to Rs 1,490 crore; Net of rupee appreciation, the decline is 2.6%. Gross margins fell 40 bps to 26.2% over the two months period ended 31st March 2014. […]
Global corporation Brightstar has acquired a majority interest in Beetel Teletech Ltd, part of the Bharti group. The aim is to bring latest mobile technologies and services to the Indian market, the companies said. Beetel is a maker of land phones and other telecom equipment, and offers communication services. “As the largest specialized wireless distributor […]
Reliance Industries said it will spend Rs 4,000 crore to acquire control of Network 18 Media & Investments Ltd, the owner of the CNN IBN channel and sister concerns like CNBC TV18, IBN 7, Firstpost.com etc. The Mukesh Ambani firm will make open offer to acquire shares held by minority shareholders in Network18. The acquisition […]
UST Global, an information technology solutions and services company for Global 1000 enterprises, said it had acquired Kanchi Technologies, a Milwaukee based award winning engineering solutions company. This acquisition will grow UST Global’s engineering services. Kanchi Technologies has operations in the US, Germany and India, it said. Kanchi Technologies provides end to end product development […]
The Tata Group will have to shell out at least $1.2 bln (7,250 crore) to NTT DoCoMo before June end if they are not able to find a buyer for its stake in Tata DoCoMo, the telecom company. Tata Group has been trying to get a buyer, but has so far met with little success. […]
Tech Mahindra said it has signed an agreement with BASF Business Services Holding, a unit of German chemical giant BASF, to acquire its business with third party customers. “This includes the 100%-owned subsidiary BASF Business Services Consult GmbH, based in Hamburg. BASF Business Services Holding GmbH will in future focus on providing information services, supply chain […]
The department of telecom’s decision to maintain a key clause about spectrum pricing in mergers and acquisitions will make such deals costly for both parties and has dampened industry enthusiasm considerably. In its announcement of guidelines for mergers and acquisitions for Indian telecom companies, the DoT has said that even if a company got its […]
There seems to be some delays in getting the valuations and finer details right for the Bharti Airtel-Loop agreement, going by the latest statement from Bharti Airtel. The company said it has agreed for a strategic network tie-up with Loop, which it expects later to lead to an integration of the two operations. It also […]
