Page 4 - Acquisition

US FTC sues Microsoft to block its $69 bn Activision Blizzard acquisition

The deal would enable Microsoft to suppress competitors to its Xbox gaming consoles and its rapidly growing subscription content and cloud-gaming business

HUL hits 52-week high as company forays into health & wellbeing category

The company will be buying a majority stake in Zywie Ventures, promoter of brand OZiva, for Rs 264.28 crore and up to 20 per cent stake in Nutritionalab for Rs 70 crore.

HUL set for health and wellbeing foray with two investment deals

To acquire majority stake in OZiva maker, 19.8% in Nutritionalab

HUL to acquire majority stake in OZiva and 19.8% in Wellbeing Nutrition

Leading FMCG maker HUL on Thursday announced the acquisition of a majority stake in OZiva and a 19.8 per cent equity in Wellbeing Nutrition with a total investment of Rs 335 crore to foray into the health and wellbeing segment. Hindustan Unilever Limited (HUL) will acquire a 51 per cent stake in Zywie Ventures Private Ltd, which owns the brand OZiva, for a consideration of Rs 264.28 crore, making its entry into the health and wellbeing segment. Besides, HUL has also announced the acquisition of a 19.8 per cent stake in Nutritionalab Pvt Ltd (Wellbeing Nutrition) for a cash consideration of Rs 70 crore. Health and wellbeing segment is a fast-evolving category in India, which according to Euromonitor Data has a total potential market size of Rs 30,000 crore. In OZiva, HUL will acquire a 51 per cent equity stake through a combination of primary infusion and secondary buyouts, said a statement from the FMCG major. "The balance 49 per cent will be acquired at the end of 36 months based

Fullerton acquisition deal: Sumitomo Mitsui Group faces $670-mn tax bill

The South Asian govt's tax department has asked the bank to pay the amount on behalf of seller Fullerton Financial Holdings Pte, arguing that it should have withheld the sum during the acquisition

Adani group becomes single-largest shareholder in NDTV with 37.4% stake

Conglomerate can now propose reconstitution of board, say proxy advisory firms

Considering options on Electrosteel: Vedanta Resources' Anil Agarwal

"But it has to have world-class capacity, and cannot be a small plant. We have a capacity of about 3 million tonnes (mt)... we are contemplating. We have to take it to 15-20 mt"

Senior journalist Ravish Kumar resigns from NDTV amid Adani takeover

Ravish Kumar has been an integral part of NDTV for more than two decades and has been conferred with the prestigious Ramon Magsaysay award and Ramnath Goenka Excellence in Journalism Award twice

AM/NS bulks up for the future, focuses on acquisitions to secure infra

Nearly Rs 90,000 crore worth of capital expenditure has been incurred so far on various asset acquisitions and projects, with a major investment of about Rs 42,000 crore

Cognizant acquires US-based management consulting firm AustinCSI

The privately-held company has more than 175 consultants who design and deliver cloud and automation solutions

Mankind Pharma acquires stake in Upakarma Ayurveda for undisclosed sum

Mankind Pharma on Monday said it has acquired a majority stake in Upakarma Ayurveda, engaged in developing, manufacturing and selling ayurvedic and herbal products for an undisclosed amount. The company's decision to invest will empower Upakarma Ayurveda to develop a wider range of products and offerings, the drug firm said in a statement. "The current lifestyle has become strenuous where people find it difficult to focus on their health. To fulfil their requirements, consumers are considering Ayurvedic remedies for long-term sustenance and boosting immunity over time. "As Mankind Pharma works towards improving the healthcare of people, we have associated with Upakarma Ayurveda in order to cater to the emerging needs of consumers," Mankind Pharma Vice Chairman and Managing Director Rajeev Juneja said. Mankind Pharma acquired the ayurvedic soulutions firm through one of its subsidiaries. Upakarma Ayurveda Founder & Managing Director Vishal Kaushik said that with the partnership, ..

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

Tata's Bisleri International buyout may be biggest in India FMCG space

A majority stake for Rs 6K-7K cr to allow TCPL's expansion in beverage space

Tube Investments of India acquires 50% stake in X2Fuels and Energy

The acquisition would be by subscribing to 10,753 equity shares for a total consideration of Rs 6.15 crore

JK Paper to acquire Horizon Packs, Securipax Packaging for Rs 578 cr

Paper and packaging board company JK Paper on Monday said it will acquire Horizon Packs Private Ltd and Securipax Packaging Private Ltd in phases for about Rs 578 crore. HPPL and SPPL are India's leading corrugated packaging manufacturers with seven plants across the country, the company said in a regulatory filing. "JK Paper has entered into a share purchase and shareholders' agreements for the acquisition of 85 per cent shares of Horizon Packs Private Ltd (HPPL) and Securipax Packaging Private Ltd (SPPL), and the balance 15 per cent within 3 years as per the respective SPSHAs," the filing said. JK paper will acquire 26.92 crore equity shares in HPPL for Rs 19.33 per share and 4.63 lakh equity shares for Rs 1,256.95 apiece in SPPL -- representing an 85 per cent stake in each company. Incorporated in 2021, Horizon Packs is headquartered in Mumbai and has six plants across India. Delhi-based SPPL, incorporated in 1980, has its manufacturing facility at Roorkee. "It is a privilege t

RHI Magnesita to acquire DBRL's refractory business for Rs 1,708 crore

RHI Magnesita is in process of acquiring the refractory business of Dalmia Bharat Refractories Limited (DBRL) in India for about Rs 1,708 crore, Stefan Borgas, CEO of the Vienna-based company, has said. The share swap deal is being made through RHI Magnesita India, he added. "DBRL will transfer its business to Dalmia OCL (DOCL). Under the terms of a share swap agreement, RHI Magnesita will acquire all outstanding shares in DOCL in exchange for 27 million new shares in RHI Magnesita India Limited," Borgas said. Based on the issuance price of RHI Magnesita India Limited at Rs 632.5029 per share, the share consideration had a value of approximately Rs 1,708 crore (about 208 million euros), the CEO said. The acquisition will significantly increase RHI Magnesita's presence in the fast-growing Indian refractory market, with steel production in India expected to grow 12 per cent in 2022, and a 7-8 per cent compound annual growth rate until 2030, Borgas added. Refractory is used by a wide

DSP Investment Managers to acquire 10% stake in Equitas Small Finance Bank

DSP Investment Managers Private Ltd (DSPIM) will buy a nearly 10 per cent stake in Equitas Small Finance Bank for an undisclosed amount, following approval from the Reserve Bank of India. The bank has received an intimation from the RBI on November 16, 2022, that it has granted approval to DSP Investment Managers Private Ltd (DSPIM) to acquire up to 9.99 per cent of the paid-up equity capital of the bank through the schemes of DSP Mutual Fund (DSPMF), Equitas SFB said in a regulatory filing on Thursday. The proposed acquisition of shares by DSPIM would be consequent to the scheme of amalgamation of Equitas Holdings (holding company) with the bank, it said. In May this year, Equitas Holdings and Equitas Small Finance Bank (SFB) were approved by their respective boards for their merger. The merger is aimed to meet the RBI's licensing conditions to bring down the shareholding of the holding company to 40 per cent within a period of five years from the date of commencement of business

Sembcorp to acquire Vector Green for Rs 2,780 cr, expand India presence

Sembcorp Industries will acquire Vector Green Energy for Rs 2,780 crore to expand its renewable energy footprint in India to 3 gigawatts (GW), the company said on Sunday. The completion of the acquisition will bring the Singapore-based group's gross renewable energy capacity to 8.5 GW, closer to its 2025 target of 10 GW of gross installed renewable capacity. "Sembcorp Industries (Sembcorp) announces that its wholly-owned subsidiary, Sembcorp Green Infra Limited, has signed an agreement with India Infrastructure Fund II, a fund managed by Global Infrastructure Partners India Pvt Ltd, to acquire 100 per cent interest in Vector Green Energy Private Limited (Vector Green) for a base equity consideration of approximately Rs 2,780 crore," it said in a statement. Vector Green is an independent power producer with renewable power generation assets across 13 Indian states. The portfolio includes 495 megawatts (MW) of solar capacity and 24 MW of wind capacity in operation, with 64 MW of solar

Canada pension fund's Indian arm acquires Peripheral Expressway

Deal for Rs 6,267 cr is the largest road acquisition under government's asset monetisation programme this year

After firing half of Twitter's workers, Musk now asks some to return

Some of those who are being asked to return were laid off by mistake, according to two people familiar with the moves