Electric Vehicles (EV) is a hot theme nowadays. No one wants to be left behind. Endurance Technologies Limited (ETL) has joined the list and is acquiring 100% of Maxwell Energy Systems Private Limited (Maxwell). Key points to note – Maxwell is a Mumbai based wholly owned subsidiary of a US company, ION Energy Inc. (“ION”) … Read more
Adani Enterprises Limited (AEL) has announced the acquisition through it’s wholly owned subsidiary, AMG Media Networks Limited (AMG). Key points to note – Acquisition is of 49% stake in Quintillion Business Media Limited (QBML) QBML owns and operates a business and financial news digital media platform, viz., www.bqprime.com (formerly known as www.bloombergquint.com). Previously on March … Read more
The event was widely anticipated since 2019, when Larsen & Toubro (L&T) had bought a majority stake in Mindtree – termed as India’s first major hostile takeover. Key points to note – L&T currently owns 60.99% of Mindtree and 74.05% of Larsen & Toubro Infotech (LTI) Given the common parent and similar business, the merger … Read more
This is what some investors had wanted and that’s exactly what Varroc Engineering Ltd (VEL) has decided. Key announcements – VEL has entered into a definitive agreement with Compagnie Plastic Omnium SE, France to divest its 4-Wheeler lighting business in the Americas and Europe Agreed consideration is an Enterprise Value of EUR 600 mn (approx … Read more
Borosil Renewables Ltd (BRL) is currently in the process of quadrupling it’s production capacity to about 2000 tonnes per day (TPD) over the next couple of years. The Company has now announced 100% acquisition of Interfloat Group, Europe’s largest manufacturer of solar glass. Key points to note – Interfloat Group comprises of two entities – … Read more
After years’ of speculation, HDFC group today finally announced reverse merge of HDFC Limited (HL – the mortgage arm) into HDFC Bank (HB). Listed below are some key factual points for your perusal. Shareholders of HL will receive 42 shares of HB (FV Re. 1/- each) for every 25 shares of HL (FV Rs. 2/-each). … Read more
Tejas is acquiring 100% of Saankhya Labs (SL), a Bengaluru headquartered Company focused on developing telecom products and equipment. Key points to note – Acquisition is in two stages 1st stage – 64.40% for Rs 283.94 crore cash to be completed in 90 days 2nd stage – Balance 35.60% after 1st stage through merger or … Read more
Finally after months of speculation, Axis has formally announced the acquisition. What is Axis acquiring? Consumer banking businesses of Citibank India – credit cards, retail banking, wealth management and consumer loans. Citi’s non-banking financial company, Citicorp Finance (India) Ltd – Commercial Vehicle loans, Construction Equipment Loans and Personal Loans. Access to Citi’s 7 offices, 21 … Read more
Tata Consumer Products (TCPL) has decided to restructure the business of it’s 57.48% subsidiary Tata Coffee Limited (TCL). The proposed restructuring includes the following – Demerger of TCL’s plantation business into a new 100% subsidiary of TCPL. Merger of the remaining TCL’s business into TCPL. TCPL’s shareholding in TCL would be cancelled and non-promoter TCL’s … Read more