In a major consolidation move in the Indian courier industry, Delhivery has announced acquisition of it’s rival Ecomm Express. The deal is all cash of Rs 1,407 cr for 99.4% stake It is a distress sale for the struggling Gurgaon-based company that cancelled its IPO last year amid declining business. After Ecomm Express filed it’s … Read more
This is further to the ongoing consolidation/ restructuring at Akzo Global. The Indian entity has been in the market to sell its decorative paints business. Now, it’s selling the power coatings business and the R&D centre to the Netherlands-based parent entity. Akzo Nobel N.V. (the parent) will be paying Rs 2,073 crore and Rs 70 … Read more
After acquiring majority in India Cements, UltraTech has now approved acquiring ~8.69% equity stake of Star Cement. Approval is for 3.7 cr shares @ price/ share not exceeding Rs 235 Total consideration is approved of Rs 851 cr (excluding STT, stamp duty and other levies) Shares are expected to be acquired from Star Cement Promoters … Read more
Pidilite, Indigo Paints and JSW Paints are speculated to be interested in 74.76% stake of Akzo Nobel in it’s Indian subsidiary. Talks with Adani and Aditya Birla Group didn’t proceed much. Valuations are expected to be $2.1-2.5 bn (Rs 18,000 – 21,000 cr against the current mcap of Rs 17,000 cr). Key draw is Akzo’s … Read more
Camso is a premium brand in construction equipment tyre and tracks with strong equity and market position in EU and North American aftermarket and OE segments. The acquisition will give CEAT access to 40 global OEMs and broaden its product offering into construction tyres and bias tracks. It’s an all cash deal valued at $225 … Read more
Board has in-principally approved to separate the Ice Cream business into a separate listed entity. Ice Cream business includes brands such as “Kwality Wall’s”, “Cornetto” and “Magnum” Decision is not final and is subject to the further evaluation and steps required as per the law. Final proposal for approval will be put in front of … Read more
Sona BLW Precision Forgings (Sona) has entered into an agreement to acquire the Railway Equipment Division (RED) of Escorts Kubota (Escorts). RED of Escorts is a leading supplier of critical components for Railways, such as brakes and suspension systems for various rolling stocks. The division reported revenues of Rs 950 cr in FY 24. In … Read more
As per the news reports, Alkem is now exploring a potential buyout of J B Chemicals & Pharmaceuticals (JB). Torrent that was the speculated front runner for JB has paused talks due to the valuation differences. EQT, a Swedish investment major has also been said to give the acquisition a pass due to the valuation … Read more
Gujarat Gas has announced a significant scheme of arrangement. It involves reverse merger of Gujarat State Petroleum Corporation (GSPC, unlisted), GSPC Energy (GEL, unlisted), and Gujarat State Petronet (GSPL, listed) into Gujarat Gas (GGL, listed). Additionally, GGL’s gas transmission business will be carved out and listed separately as GSPL Transmission Limited (GTL) on the stock … Read more