Broadcasting company TV Today Network said it has decided to write off nearly Rs 273 cr of accumulated losses at its Mail Today newspaper business and merge it with the parent company for better synergies. TV Today Network runs one of India’s most popular television network, including the channels India Today and Aaj Tak. The […]
Torrent Pharmaceuticals said it completed its previously announced acquisition of the branded formulation business of Unichem Laboratories for India and Nepal, including its Sikkim manufacturing facility. The deal was signed on 3rd November, 2017. With this, Torrent has entered the list of top pharma firms in the Indian market. “From today, Torrent begins the Integration […]
Pharma company Eris LifeSciences said it has completed its purchase of the India branded generics of Strides Shasun for Rs 500 cr in cash. “We now wish to confirm that the transaction ahs achieved closure,” said Eris Lifesciences. Last month, Strides Shasun said it was selling the India branded business as part of its portfolio […]
Bharti Airtel and Tata Teleservices said they have started moving customers of Tata DoCoMo to the Bharti Airtel network using what is called an ‘intra-circle roaming’ or ICR agreement. This essentially means that Tata Teleservices will continue to operate a network in a technical and legal sense, but is free to decommission all its towers […]
Pharma major Strides Shasun said it agreed to sell its India branded generics business to Eris LifeSciences Limited for Rs 500 cr in cash. “This transaction is the outcome of the company’s portfolio reprioritization, to focus more sharply on larger regulated markets,” it said. The India branded generics business being divested by Strides had sales […]
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 of directors of […]
Cox and Kings said Private Equity firm SSG Capital acquired the 34.42% stake held by Rohatyn Group in its subsidiary Prometheon Holdings (UK) Limited. SSG Capital Group also owns 2.72% stake in Cox & Kings Ltd. Prometheon Holdings is the Holding company of Holidaybreak, which in turn operates brands PGL, NST, EST, Travel Works and […]
Tata Teleservices, the mobile telecom arm of the Tata Group that was sold to Bharti Airtel last month, lost about 7.3% of its nearly 7 mln mobile subscribers in Maharashtra and Goa, according to a regulatory filing by the company. Tata Telservices Maharashtra Ltd, as the company is know in the two circles of Mumbai […]
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, Vodafone India will receive Rs […]
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 has started talks with Just […]
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 or those that have […]
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 RCom’s shares plunging […]
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 the branded packaged […]
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 its feed to […]
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 Dr. Satish Patel, Founder […]
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 can get an extension […]
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 who buys the stakes of […]
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 satisfaction of certain closing conditions, it […]
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 investment by converting some of […]
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 the transaction is expected by […]
