Acquisition

PhonePe in talks with BNPL firm to hire some staff left after acquisition talks fail

This is an unnecessary overhang, since the company has not been on an investment spree

Fair-trade regulator CCI on Thursday said it has approved the acquisition of SREI Infrastructure Finance by National Asset Reconstruction Company Ltd and India Debt Resolution Company Ltd. The deal has been cleared under the green channel route. National Asset Reconstruction Company Ltd (NARCL) is an asset reconstruction company while India Debt Resolution Company Ltd (IDRCL) provides debt management services to NARCL. Both entities are backed by the Government of India. The proposed transaction involves the acquisition of a majority of equity share capital of the Srei Infrastructure Finance (SIFL) by NARCL and IDRCL, according to a CCI notice. NARCL has submitted a resolution plan in relation to the corporate insolvency resolution process (CIRP) of SIFL and its wholly-owned subsidiary, SREI Equipment Finance Ltd (SEFL). Thereafter, NARCL's resolution plan was approved by the Committee of Creditors (CoC) of the SIFL on February 14, the notice said. The Competition Commission of I

Jindal Stainless Ltd (JSL) on Thursday said Crisil Ratings has revised its outlook on the stainless steelmaker's long-term bank facilities and debt programme to 'AA' with a positive outlook. The rating agency has revised its outlook in view of the company's improved business risk profile, an expected uptick in scale and forward integration with capacity expansion and acquisitions, JSL said in a statement. "JSL has earned an outlook upgrade of Positive from Stable from the CRISIL Ratings on the long-term bank facilities and debt programme, and a reaffirmed rating at CRISIL AA-. Meanwhile, the rating on the short-term bank facilities has been reaffirmed at CRISIL A1+," it said. Some of the parameters that CRISIL Ratings took note of in order to elevate the outlook include the completion of the merger process of Jindal Stainless Hisar Limited (JSHL) with the company, the healthy financial risk profile of the company led by strong liquidity, its strategic acquisitions, an agile business

APSEZ will spend another Rs 850 cr over time to upgrade infrastructure and reduce the logistics cost for customers

Last year, Capital Food's three main shareholders decided to put their stake up for sale, it is expected to fetch them $1-1.25 billion

Apple has quietly acquired WaveOne, a California-based startup that develops AI algorithms for video compression

Billionaire Gautam Adani's AMG Media Networks has acquired about a 49 per cent stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd for about Rs 48 crore. In a stock exchange filing, Adani Enterprises Ltd said its subsidiary AMG Media Networks Ltd has completed the acquisition which was originally announced in May last year. The transaction was completed on March 27 for "Rs 47.84 crore", it said. Quintillion Business Media runs the news platform Bloomberg Qunit, now called BQ Prime. Adani group had set up AMG Media Networks for its foray into businesses of "publishing, advertising, broadcasting, distribution of content over different types of media networks". In May last year, it had signed a shareholders' agreement with Quintillion Media Ltd (QML) and QBML. In September 2021, it hired veteran journalist Sanjay Pugalia to lead its media company Adani Media Ventures.

TII will acquire 67 per cent, while Premji Invest will acquire the remaining 33 per cent

The narrowing of the probe echoes a similar step at European Union level where the bloc is said to be only focusing on cloud gaming services.

This is Accenture's third acquisition of such a company in India in recent years

Soon after the announcement late on Sunday, the US Federal Reserve, European Central Bank and other major central banks came out with statements to reassure markets

At the prodding of regulators, UBS has put aside its initial opposition to a deal and is exploring possible structures that could be executed quickly to halt a deep crisis of confidence

AGI Greenpac has received approval from Competition Commission of India for the proposed acquisition of Hindusthan National Glass & Industries Limited through Corporate Insolvency Resolution Process

Shares of Univar rose nearly 14% to $35.40 in premarket trading

Given the muted response to the deal on Monday, analysts seem skeptical that this will be as easy as Pfizer makes it sound

The promoters have also prepaid a $500-million facility taken for Ambuja acquisition financing

Govt planning OFS to sell 15% stake by March-end, will lose special rights over company; sources says Vedanta is looking raise about $1 billion from three foreign banks to fund the acquisition

Tailwinds for the industry in the form of decline in gas prices are also near-term positive

Goldman Sachs Asset Management and Bain, along with private equity firms TDR Capital and TPG, have tabled indicative offers for Subway, the news outlet reported