Page 10 - Acquisition
Torrent Power to acquire 50 MW solar plant from SkyPower Group
Torrent Power has inked a share purchase pact to acquire 100 per cent equity in a 50 MW solar plant of SkyPower Group at an enterprise value of Rs 417 crore. Torrent Power Ltd has entered into a Share Purchase Agreement (SPA) with SkyPower Southeast Asia III Investments Limited and SkyPower Southeast Asia Holdings 2 Limited (the Sellers) for the acquisition of 100 per cent securities of Sunshakti Solar Power Projects Private Ltd (the SPV special purpose vehicle). The SPV operates a 50 MW Solar Power Project in the state of Telangana. Long-term Power Purchase Agreement (PPA) for the Project is with Northern Power Distribution Company of Telangana Limited (NPDCTL) for a period of 25 years at a fixed tariff of approx Rs 5.35 per kWh, with remaining useful life of about 20 years. The enterprise value for this acquisition is around Rs 417 crore, subject to closing price adjustments, if any, the company said in a statement. The acquisition is further subject to customary conditions for
 "Torrent Power to acquire 50 MW solar plant from SkyPower Group")
Flipkart buys full-stack e-commerce enabler ANS for undisclosed sum
Flipkart's M&A strategy is helping it tap new business areas, get access to innovation and vie with players like Amazon, Reliance's JioMart and Tata-backed BigBasket, say to analysts
 "Flipkart buys full-stack e-commerce enabler ANS for undisclosed sum")
Asahi Songwon Colors enters API biz via Atlas Life Sciences acquisition
The blue pigment maker buys 78% stake in the firm for Rs 48 cr to take control of Ahmedabad works
 "Asahi Songwon Colors enters API biz via Atlas Life Sciences acquisition")
US-based Nithia Capital acquires steel maker CREST for Rs 600 crore
CREST is an integrated plant with a sponge iron capacity of 225 kilo tonne per annum (KTPA)
 "US-based Nithia Capital acquires steel maker CREST for Rs 600 crore")
Asian Paints to acquire stake in White Teak, Weatherseal Fenestration
The size of the current market is more than Rs 11,000 crore and the market share of organised players is about 40 per cent
 "Asian Paints to acquire stake in White Teak, Weatherseal Fenestration")
What does the Axis-Citi deal mean for Citi's India customers?
Citigroup has sealed the deal with Axis Bank to sell its consumer businesses for nearly $2 bn. What does Citi's exit from India mean for its customers here? And what Axis is going to gain from it?
 "What does the Axis-Citi deal mean for Citi's India customers?")
SBI to buy entire share of three stakeholders in SBI Global Factors
The decision was taken in a meeting of the Executive Committee of Central Board (ECCB) of SBI held on March 29, 2022
 "SBI to buy entire share of three stakeholders in SBI Global Factors")
Alembic Pharma fully acquires Aleor Dermaceuticals from JV partner
Picks up remaining 40% stake from JV partner Orbicular Pharmaceutical
 "Alembic Pharma fully acquires Aleor Dermaceuticals from JV partner")
Alembic acquires 100% stake in Aleor Dermaceuticals from JV partner
The move is aimed at strengthening its skin-related manufacturing and marketing footprint
Aurobindo's Veritaz acquisition unlikely to add much value: Analysts
Deal is nonetheless a stepping stone in the drug firm's strategic plan to focus on domestic formulations market, where it aims to have Rs 1,000-cr sales in three years
 "Aurobindo's Veritaz acquisition unlikely to add much value: Analysts")
Aurobindo Pharma acquires Veritaz' domestic business for Rs 171 cr
Move marks Aurobindo's increasing focus on Indian market
Aurobindo Pharma acquires Veritaz formulation business for Rs 171 crore
The transaction comes into effect from April 1, 2022 and is expected to close by May 2022
Airtel to acquire Vodafone's 4.7% stake in Indus Towers for Rs 2,388 cr
Telecom company Bharti Airtel will acquire a 4.7 per cent stake in Indus Towers from Vodafone Group for about Rs 2,388 crore, according to a company filing
 "Airtel to acquire Vodafone's 4.7% stake in Indus Towers for Rs 2,388 cr")
Why the mega acquisition of Blinkit may give Zomato digestion problems
Market sentiment, inadequate data and unsustainable unit economics are stacked against the acquisition plan and 10-minute food delivery.
 "Why the mega acquisition of Blinkit may give Zomato digestion problems")
Triveni Turbine arm to acquire 70% stake in S African firm TSE Engineering
With the acquisition of these shares, TSE will become a step down subsidiary of Triveni Turbine Ltd
 "Triveni Turbine arm to acquire 70% stake in S African firm TSE Engineering")
BabyChakra acquires Tinystep to build India's largest mother-baby platform
Deal, whose value wasn't disclosed, will allow BabyChakra to expand regional footprint with a platform covering 9 languages
 "BabyChakra acquires Tinystep to build India's largest mother-baby platform")
Infosys to acquire German digital marketing firm Oddity for Euro 50 mn
With more than 300 digital experts, Oddity is one of the largest independent digital agencies from Germany. For CY21 the company had revenue of Euro 21.6 mn
 "Infosys to acquire German digital marketing firm Oddity for Euro 50 mn")
PhonePe acquires GigIndia, top network for freelance micro-entrepreneurs
Transaction value not disclosed; GigIndia to bring 1.5 million entrepreneurs and over 100 enterprises on its platform as part of its integration with PhonePe under the deal
 "PhonePe acquires GigIndia, top network for freelance micro-entrepreneurs")
Bizongo buys Clean Slate Tech, aims to help 100 factories adopt IoT by 2023
Deal size not revealed; Clean Slate team to join acquirer
 "Bizongo buys Clean Slate Tech, aims to help 100 factories adopt IoT by 2023")
M&As add to the growth engine for Persistent Systems' stock: Brokerages
The stock remains one of the top picks among brokerages in the mid-cap IT space
 "M&As add to the growth engine for Persistent Systems' stock: Brokerages")
