Cabinet Empowers Pses To Divest Subsidiaries, Units, Jvs

The Union Cabinet Wednesday empowered the boards of public sector enterprises (PSEs) to recommend and undertake disinvestment or closure of the parent’s subsidiaries, units and stakes in joint ventures. The move is expected to give PSEs more power and autonomy to decide on disinvestments of their own units, in line with the new PSE policy … Read more

Richest Asian Gautam Adani is also busiest dealmaker with a $17 billion spree

Indian billionaire Gautam Adani became the richest person in Asia this year. Now, a vast empire-building exercise is making him one of the region’s busiest dealmakers. A $10.5 billion pact announced Sunday to buy the Indian operations of Swiss building-materials firm Holcim Ltd., capped a run of some 32 acquisitions for Adani the past year, … Read more

Adanis Bring In $3bn As Promoter Equity For The Holcim Deal

The Adani family plans to bring in $3 billion as promoter equity for its $10.5 billion buyout of Holcim Ltd’s stake in ACC Ltd and Ambuja Cements Ltd, while banks will finance the rest, two people aware of the financing agreement said. On 15 May, the Adani family said the acquisition would be funded through … Read more

Reliance to acquire dozens of brands in $6.5 billion consumer goods play-sources

India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, … Read more

Adani group wins race to buy Ambuja Cements, ACC for $10.5 bn from Holcim

Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim’s stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd’s … Read more

Finland’s bid to join NATO

What does Finland’s entry into NATO mean for Russia and the European Union? Will the move escalate the security crisis? “ The Lord’s our shepherd”, says the Psalm But just in case, we better get a bomb!’ -Tom Lehrer, Who’s next? The story so far: The strategic geopolitical ambiguity of Finland has finally come to … Read more

How Apple Became a Trillion-Dollar Company and Lost Its Soul

“After Steve: How Apple Became a Trillion-Dollar Company and Lost Its Soul” is a genuinely engrossing new book. It follows the paths of two men who shaped the post-Steve Jobs period at Apple: Tim Cook and Jony Ive. This is an opinion column. The thoughts expressed are those of the author. Something is loading. When … Read more

Uae-based Emirates Telecom Buys 9.8% Stake In Vodafone For $4.4 Bn

Emirates Telecommunications Group Company PJSC “e&” (Etisalat Group) on Saturday announced the acquisition of approximately 2,766 million shares in Vodafone Group Plc aggregating to $4.4 billion. The shares represent 9.8% of Vodafone’s issued share capital. The transaction is in line with e&’s ambition to be a global player in telecom and technology and to increase … Read more

Tesla, Twitter shares drop as Elon Musk’s legal issues grow

Shares of Tesla and Twitter have tumbled this week as investors deal with the fallout and potential legal issues surrounding Tesla CEO Elon Musk and his $44 billion bid to buy the social media platform. Of the two, Musk’s electric vehicle company has fared worse, with its stock down almost 16% so far this week … Read more